TTM Technologies, Inc. (NASDAQ:TTMI) Short Interest Down 9.7% in July
TTM Technologies, Inc. (NASDAQ:TTMI) was the recipient of a large drop in short interest in the month of July. As of July 14th, there was short interest totalling 12,535,768 shares, a drop of 9.7% from the June 30th total of 13,880,244 shares. Based on an average trading volume of 798,949 shares, the short-interest ratio is currently 15.7 days. Approximately 13.9% of the shares of the stock are short sold.
A number of equities research analysts have recently commented on the company. BidaskClub upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday. Needham & Company LLC raised their target price on TTM Technologies from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, June 9th. TheStreet upgraded TTM Technologies from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Zacks Investment Research cut TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, J P Morgan Chase & Co upgraded TTM Technologies from a “neutral” rating to an “overweight” rating and set a $21.00 target price on the stock in a research report on Tuesday, April 4th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $19.75.
Shares of TTM Technologies (TTMI) opened at 18.93 on Friday. The company has a 50-day moving average price of $18.23 and a 200 day moving average price of $16.54. The firm has a market capitalization of $1.93 billion, a PE ratio of 26.59 and a beta of 1.47. TTM Technologies has a 12-month low of $9.21 and a 12-month high of $19.54.
TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, May 3rd. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.13. TTM Technologies had a net margin of 2.92% and a return on equity of 18.17%. The company had revenue of $625.20 million during the quarter, compared to analysts’ expectations of $615 million. During the same period last year, the company posted $0.14 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that TTM Technologies will post $1.70 earnings per share for the current year.
In other news, SVP Daniel J. Weber sold 3,605 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $17.92, for a total transaction of $64,601.60. Following the sale, the senior vice president now directly owns 48,270 shares in the company, valued at approximately $864,998.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenton K. Alder sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $18.43, for a total value of $55,290.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,074 shares of company stock worth $249,890 over the last 90 days. Insiders own 28.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its position in shares of TTM Technologies by 51.6% in the first quarter. Acadian Asset Management LLC now owns 3,259,213 shares of the technology company’s stock worth $52,571,000 after buying an additional 1,108,651 shares during the period. James Investment Research Inc. bought a new position in shares of TTM Technologies during the first quarter worth about $1,989,000. Navellier & Associates Inc boosted its position in shares of TTM Technologies by 5.4% in the first quarter. Navellier & Associates Inc now owns 49,439 shares of the technology company’s stock worth $797,000 after buying an additional 2,527 shares during the period. State of Alaska Department of Revenue boosted its position in shares of TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock worth $150,000 after buying an additional 140 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of TTM Technologies by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 34,400 shares of the technology company’s stock worth $555,000 after buying an additional 500 shares during the period. 95.16% of the stock is owned by institutional investors.
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TTM Technologies Company Profile
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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