TTM Technologies, Inc. (NASDAQ:TTMI) Sees Significant Growth in Short Interest

TTM Technologies, Inc. (NASDAQ:TTMI) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,680,000 shares, a growth of 20.7% from the June 30th total of 2,220,000 shares. Based on an average daily trading volume, of 804,600 shares, the short-interest ratio is presently 3.3 days. Approximately 2.7% of the company’s shares are short sold.

Insider Activity at TTM Technologies

In related news, COO Philip Titterton sold 21,910 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.99, for a total value of $416,070.90. Following the transaction, the chief operating officer now directly owns 157,528 shares in the company, valued at $2,991,456.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Philip Titterton sold 21,910 shares of TTM Technologies stock in a transaction on Monday, June 24th. The shares were sold at an average price of $18.99, for a total transaction of $416,070.90. Following the transaction, the chief operating officer now directly owns 157,528 shares of the company’s stock, valued at $2,991,456.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Douglas L. Soder sold 15,286 shares of TTM Technologies stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $20.03, for a total transaction of $306,178.58. Following the transaction, the executive vice president now directly owns 214,207 shares in the company, valued at $4,290,566.21. The disclosure for this sale can be found here. Insiders have sold 124,721 shares of company stock worth $2,339,678 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of TTM Technologies by 46.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 36,648 shares of the technology company’s stock worth $712,000 after buying an additional 11,579 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of TTM Technologies by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 863,309 shares of the technology company’s stock worth $16,774,000 after buying an additional 12,789 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of TTM Technologies by 1.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 51,200 shares of the technology company’s stock worth $995,000 after buying an additional 600 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of TTM Technologies by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 53,788 shares of the technology company’s stock worth $1,045,000 after buying an additional 821 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of TTM Technologies by 8.7% during the 2nd quarter. Diversified Trust Co now owns 24,399 shares of the technology company’s stock worth $474,000 after buying an additional 1,954 shares during the period. Institutional investors own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TTMI shares. Stifel Nicolaus raised shares of TTM Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $19.00 in a research report on Thursday, May 2nd. B. Riley lifted their price target on shares of TTM Technologies from $20.75 to $25.50 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Needham & Company LLC raised their price objective on shares of TTM Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $20.50.

TTM Technologies Stock Up 2.2 %

TTM Technologies stock opened at $21.64 on Friday. The firm has a market capitalization of $2.20 billion, a PE ratio of -1,081.46 and a beta of 1.25. The company’s 50-day moving average is $19.59 and its 200-day moving average is $16.72. TTM Technologies has a fifty-two week low of $11.14 and a fifty-two week high of $22.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.09 and a quick ratio of 1.77.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $570.11 million for the quarter, compared to analyst estimates of $553.01 million. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. Sell-side analysts anticipate that TTM Technologies will post 1.29 earnings per share for the current year.

TTM Technologies Company Profile

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.