FormFactor, Inc. (NASDAQ:FORM) Short Interest Up 26.0% in October

FormFactor, Inc. (NASDAQ:FORM) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,280,000 shares, a growth of 26.0% from the October 15th total of 1,810,000 shares. Based on an average daily volume of 602,700 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.0% of the shares of the company are sold short.

FormFactor Trading Down 4.8 %

Shares of FORM stock traded down $1.89 on Friday, hitting $37.80. 1,058,642 shares of the company’s stock traded hands, compared to its average volume of 590,252. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.76. FormFactor has a one year low of $36.11 and a one year high of $63.63. The company’s fifty day simple moving average is $43.55 and its 200 day simple moving average is $50.35. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 21.72 and a beta of 1.12.

Insider Transactions at FormFactor

In other news, CEO Mike Slessor sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $45.28, for a total transaction of $181,120.00. Following the transaction, the chief executive officer now directly owns 530,276 shares of the company’s stock, valued at approximately $24,010,897.28. This trade represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Trading of FormFactor

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of FormFactor by 99.4% in the third quarter. Advisors Asset Management Inc. now owns 620 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 309 shares during the period. Innealta Capital LLC bought a new stake in shares of FormFactor in the second quarter worth approximately $38,000. Quarry LP grew its stake in shares of FormFactor by 131.7% in the third quarter. Quarry LP now owns 920 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 523 shares during the period. Redwood Wealth Management Group LLC purchased a new position in shares of FormFactor in the second quarter worth approximately $43,000. Finally, LRI Investments LLC purchased a new position in shares of FormFactor in the first quarter worth approximately $70,000. 98.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FORM shares. Needham & Company LLC cut their target price on shares of FormFactor from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com lowered shares of FormFactor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. TD Cowen cut their target price on shares of FormFactor from $60.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Finally, DA Davidson raised their target price on shares of FormFactor from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.38.

FormFactor Company Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.