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

TTM Technologies, Inc. (NASDAQ:TTMIGet Rating) was the target of a significant increase in short interest in December. As of December 30th, there was short interest totalling 1,960,000 shares, an increase of 28.9% from the December 15th total of 1,520,000 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 514,800 shares, the short-interest ratio is presently 3.8 days.

Analyst Ratings Changes

Several equities analysts have commented on TTMI shares. Needham & Company LLC dropped their price target on shares of TTM Technologies from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. StockNews.com downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 13th.

TTM Technologies Stock Performance

Shares of TTMI stock opened at $17.14 on Friday. TTM Technologies has a 12 month low of $9.76 and a 12 month high of $17.49. The company has a market cap of $1.75 billion, a P/E ratio of 18.23 and a beta of 1.46. The company has a current ratio of 1.94, a quick ratio of 1.66 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $15.68 and a 200 day moving average price of $14.84.

TTM Technologies (NASDAQ:TTMIGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. TTM Technologies had a net margin of 3.92% and a return on equity of 10.72%. The firm had revenue of $671.10 million during the quarter, compared to analysts’ expectations of $675.51 million. During the same period in the previous year, the company earned $0.29 earnings per share. TTM Technologies’s quarterly revenue was up 20.5% compared to the same quarter last year. Sell-side analysts predict that TTM Technologies will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TTM Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Ronald Blue Trust Inc. raised its holdings in shares of TTM Technologies by 286.3% in the fourth quarter. Ronald Blue Trust Inc. now owns 2,345 shares of the technology company’s stock valued at $31,000 after buying an additional 1,738 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of TTM Technologies by 345.1% during the second quarter. Quadrant Capital Group LLC now owns 2,564 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,988 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of TTM Technologies during the third quarter worth about $35,000. Nomura Asset Management Co. Ltd. increased its stake in shares of TTM Technologies by 42.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,700 shares of the technology company’s stock worth $36,000 after acquiring an additional 800 shares during the period. Finally, Larson Financial Group LLC acquired a new position in shares of TTM Technologies during the second quarter worth about $49,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

About TTM Technologies

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TTM Technologies, Inc, together with its subsidiaries, engages in the manufacture and sale of printed circuit boards (PCBs) worldwide. The company operates in two segments, PCB and RF&S Components. It offers PCB products, radio frequency (RF) components, conventional PCBs, RF and microwave circuits, high density interconnect PCBs, substrate-like PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, IC substrates, passive RF components, advanced ceramic RF components, multi-chip modules, and beamforming and switching networks.

Further Reading

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