Short interest sits light at 3.1% of float ahead of Tuesday's report. Five major firms lifted price targets in April as the stock rallied 31% in 30 days.
Short interest stands at 4.90 million shares as of April 23, representing 3.1% of the free float. The position declined 1.1% over the past day but edged 2.5% higher over the past week. Days to cover remains minimal at 1.64. Cost to borrow dropped sharply over the week, falling 33% to just 0.32%. Utilisation sits at a negligible 0.1%, down from 0.14% a week earlier—well below the 52-week high of 10.47%. The data shows short sellers are neither building conviction nor facing meaningful pressure.
The put-call ratio closed at 0.63 on April 24, above the 20-day mean of 0.58 and registering a z-score of 1.02. That marks a modest tilt toward put activity relative to recent weeks. The ratio sits well inside the 52-week range of 0.41 to 5.43. No extreme skew is evident.
Consensus data is unavailable, but the mean price target sits at $345—17.5% below the current $418 close. Four firms raised targets in April. UBS lifted to $440 from $325 on April 21, maintaining Buy. JP Morgan raised to $400 from $315 on April 16, holding Neutral. Susquehanna and Cantor Fitzgerald both increased targets to $415 and $400 respectively on April 9, each maintaining positive ratings. Benzinga's bull case highlights revenue expectations of $5.0 billion by CY27, driven by AI applications contributing over half of semiconductor test revenue and a doubling of HDD testing revenue by CY26. The bear case warns of protracted declines in smartphone and datacenter AI demand, market share erosion, and slower industrial automation growth.
The P/E ratio reached 57.0 as of April 24, up 8.7 points over 30 days. The P/B multiple stands at 17.5, rising 3.4 points in the same period. EV/EBITDA sits at 42.5. Factor scores show strength in EPS momentum: 30-day EPS momentum ranks in the 71st percentile, while 90-day momentum hits the 80th percentile. Forward 12-month EPS growth ranks in the 92nd percentile. Dividend score is 90th percentile.
Insiders sold $10.9 million net over the past 90 days, including a $1.7 million sale by CEO Gregory Smith on February 2. BlackRock increased its stake by 785,000 shares to 15.4 million as of March 31, representing 9.8% of shares outstanding. Assenagon Asset Management added 545,000 shares in Q1.
The stock reported on February 3, February 2 (twice), and January 28. The recent 31% one-month rally and 9.9% weekly gain suggest strong momentum heading into Tuesday's print.
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