TTM Technologies, Inc. (NASDAQ:TTMI) Sees Large Increase in Short Interest

TTM Technologies, Inc. (NASDAQ:TTMIGet Free Report) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,640,000 shares, a growth of 20.6% from the April 30th total of 1,360,000 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average trading volume of 633,200 shares, the days-to-cover ratio is currently 2.6 days.

TTM Technologies Trading Down 0.6 %

Shares of NASDAQ TTMI traded down $0.11 during mid-day trading on Friday, hitting $18.60. 696,744 shares of the company traded hands, compared to its average volume of 677,487. TTM Technologies has a 1 year low of $11.14 and a 1 year high of $19.00. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -929.54 and a beta of 1.37. The company has a quick ratio of 1.77, a current ratio of 2.09 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $16.26 and a two-hundred day moving average of $15.38.

TTM Technologies (NASDAQ:TTMIGet Free Report) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The business had revenue of $570.11 million during the quarter, compared to the consensus estimate of $553.01 million. TTM Technologies had a positive return on equity of 8.63% and a negative net margin of 0.11%. On average, sell-side analysts anticipate that TTM Technologies will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on TTMI shares. Stifel Nicolaus upgraded TTM Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $15.00 to $19.00 in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of TTM Technologies in a report on Thursday, May 2nd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TTM Technologies presently has a consensus rating of “Buy” and an average target price of $18.17.

View Our Latest Stock Analysis on TTMI

Insiders Place Their Bets

In other TTM Technologies news, insider Anthony Joseph Sandeen sold 23,683 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $17.53, for a total transaction of $415,162.99. Following the completion of the transaction, the insider now owns 28,056 shares in the company, valued at approximately $491,821.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anthony Joseph Sandeen sold 23,683 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $17.53, for a total value of $415,162.99. Following the completion of the sale, the insider now owns 28,056 shares in the company, valued at $491,821.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas L. Soder sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $18.01, for a total value of $450,250.00. Following the completion of the sale, the insider now owns 239,574 shares of the company’s stock, valued at approximately $4,314,727.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,712 shares of company stock worth $992,919. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TTMI. Victory Capital Management Inc. raised its position in TTM Technologies by 222.2% during the third quarter. Victory Capital Management Inc. now owns 101,299 shares of the technology company’s stock valued at $1,305,000 after buying an additional 69,857 shares during the period. Illinois Municipal Retirement Fund acquired a new position in TTM Technologies during the third quarter valued at $825,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in TTM Technologies by 10.3% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 75,941 shares of the technology company’s stock valued at $978,000 after buying an additional 7,062 shares during the period. Fox Run Management L.L.C. acquired a new position in TTM Technologies during the third quarter valued at $233,000. Finally, Barclays PLC raised its position in TTM Technologies by 11.8% during the third quarter. Barclays PLC now owns 61,157 shares of the technology company’s stock valued at $788,000 after buying an additional 6,479 shares during the period. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Company Profile

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TTM Technologies, Inc, together with its subsidiaries, manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments, PCB and RF&S Components. It offers range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, IC substrates, passive RF components, advanced ceramic RF components, hi-reliability multi-chip modules, beamforming and switching networks, PCB products, RF components, and backplane/custom assembly solutions, including conventional PCBs.

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