Short Interest in TTM Technologies, Inc. (NASDAQ:TTMI) Declines By 32.5%

TTM Technologies, Inc. (NASDAQ:TTMI) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,810,000 shares, a decline of 32.5% from the July 15th total of 2,680,000 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average daily volume of 910,300 shares, the short-interest ratio is currently 2.0 days.

Insider Buying and Selling

In other TTM Technologies news, VP Tony Sanchez sold 6,940 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $19.00, for a total transaction of $131,860.00. Following the transaction, the vice president now directly owns 21,502 shares in the company, valued at approximately $408,538. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Tony Sanchez sold 6,940 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $19.00, for a total value of $131,860.00. Following the transaction, the vice president now directly owns 21,502 shares in the company, valued at approximately $408,538. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Philip Titterton sold 21,910 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $18.99, for a total value of $416,070.90. Following the completion of the sale, the chief operating officer now owns 157,528 shares of the company’s stock, valued at approximately $2,991,456.72. The disclosure for this sale can be found here. Insiders sold 112,009 shares of company stock worth $2,110,159 in the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Several hedge funds have recently added to or reduced their stakes in TTMI. American Century Companies Inc. grew its holdings in TTM Technologies by 88.8% in the 2nd quarter. American Century Companies Inc. now owns 1,479,403 shares of the technology company’s stock valued at $28,745,000 after buying an additional 695,844 shares in the last quarter. Norges Bank acquired a new position in TTM Technologies in the 4th quarter valued at $10,616,000. Hood River Capital Management LLC acquired a new position in TTM Technologies in the 2nd quarter valued at $8,806,000. Archon Capital Management LLC bought a new stake in shares of TTM Technologies during the 1st quarter valued at $3,097,000. Finally, Algert Global LLC grew its holdings in shares of TTM Technologies by 137.5% during the 2nd quarter. Algert Global LLC now owns 218,938 shares of the technology company’s stock worth $4,254,000 after purchasing an additional 126,748 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial reaffirmed a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of TTM Technologies in a research report on Thursday, August 1st. B. Riley raised their target price on shares of TTM Technologies from $25.50 to $27.25 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of TTM Technologies from $19.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC raised their price objective on shares of TTM Technologies from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, TTM Technologies has a consensus rating of “Buy” and an average target price of $24.31.

TTM Technologies Stock Performance

Shares of TTM Technologies stock traded up $0.12 during trading on Friday, hitting $18.86. 468,366 shares of the stock were exchanged, compared to its average volume of 1,193,291. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $19.61 and a 200-day moving average price of $17.13. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -942.53 and a beta of 1.25. TTM Technologies has a 1-year low of $11.14 and a 1-year high of $22.70.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. TTM Technologies had a return on equity of 9.01% and a net margin of 0.74%. The business had revenue of $605.10 million for the quarter, compared to analyst estimates of $582.70 million. During the same period in the previous year, the firm earned $0.28 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that TTM Technologies will post 1.31 EPS for the current fiscal year.

About TTM Technologies

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.