TTM Technologies, Inc. (NASDAQ:TTMI) Short Interest Up 20.6% in May

TTM Technologies, Inc. (NASDAQ:TTMIGet Free Report) saw a large growth in short interest in 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 stock are sold short. Based on an average daily volume of 633,200 shares, the short-interest ratio is currently 2.6 days.

Analysts Set New Price Targets

TTMI has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of TTM Technologies in a research note on Thursday, May 2nd. Stifel Nicolaus upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $19.00 in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $18.17.

Read Our Latest Analysis on TTMI

Insiders Place Their Bets

In other news, insider Anthony Joseph Sandeen sold 23,683 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $17.53, for a total value 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 accessible through the SEC website. In other news, insider Anthony Joseph Sandeen sold 23,683 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 28,056 shares of the company’s stock, valued at approximately $491,821.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dale Martin Knecht sold 7,029 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $18.14, for a total value of $127,506.06. Following the completion of the transaction, the senior vice president now directly owns 90,024 shares of the company’s stock, valued at $1,633,035.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,712 shares of company stock worth $992,919. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of TTM Technologies by 0.5% during the first quarter. Vanguard Group Inc. now owns 13,610,120 shares of the technology company’s stock worth $212,998,000 after purchasing an additional 63,073 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in TTM Technologies by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,299,477 shares of the technology company’s stock valued at $131,216,000 after buying an additional 121,498 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of TTM Technologies by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,941,612 shares of the technology company’s stock valued at $30,697,000 after acquiring an additional 96,265 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of TTM Technologies by 2.7% during the 3rd quarter. Invesco Ltd. now owns 1,478,467 shares of the technology company’s stock worth $19,043,000 after acquiring an additional 39,445 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of TTM Technologies by 58.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,425,000 shares of the technology company’s stock worth $18,354,000 after acquiring an additional 525,000 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

TTM Technologies Stock Down 0.6 %

TTMI opened at $18.60 on Friday. The firm has a market cap of $1.89 billion, a P/E ratio of -929.54 and a beta of 1.37. The business’s fifty day simple moving average is $16.26 and its 200 day simple moving average is $15.38. TTM Technologies has a 52 week low of $11.14 and a 52 week high of $19.00. The company has a quick ratio of 1.77, a current ratio of 2.09 and a debt-to-equity ratio of 0.60.

TTM Technologies (NASDAQ:TTMIGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.25 earnings per share (EPS) 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 analysts’ expectations of $553.01 million. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. As a group, equities research analysts anticipate that TTM Technologies will post 1.29 EPS for the current fiscal year.

About TTM Technologies

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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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