Short Interest in TTM Technologies, Inc. (NASDAQ:TTMI) Grows By 15.1%

TTM Technologies, Inc. (NASDAQ:TTMI) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,900,000 shares, an increase of 15.1% from the January 15th total of 2,520,000 shares. Approximately 2.9% of the shares of the company are short sold. Based on an average trading volume of 666,400 shares, the days-to-cover ratio is presently 4.4 days.

Insiders Place Their Bets

In other TTM Technologies news, COO Philip Titterton sold 24,792 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total transaction of $633,683.52. Following the completion of the sale, the chief operating officer now directly owns 157,528 shares in the company, valued at approximately $4,026,415.68. The trade was a 13.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Douglas L. Soder sold 19,015 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $25.00, for a total value of $475,375.00. Following the sale, the executive vice president now owns 185,478 shares of the company’s stock, valued at approximately $4,636,950. This trade represents a 9.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,653 shares of company stock valued at $1,525,165. 1.30% of the stock is owned by company insiders.

Institutional Trading of TTM Technologies

A number of hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in TTM Technologies by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company’s stock worth $139,000 after acquiring an additional 442 shares during the last quarter. GAMMA Investing LLC increased its stake in TTM Technologies by 27.7% during the 4th quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company’s stock worth $51,000 after buying an additional 443 shares during the period. Envestnet Asset Management Inc. increased its stake in TTM Technologies by 3.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,797 shares of the technology company’s stock worth $490,000 after buying an additional 602 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in TTM Technologies by 5.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,394 shares of the technology company’s stock worth $244,000 after buying an additional 659 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of TTM Technologies by 8.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,652 shares of the technology company’s stock worth $288,000 after purchasing an additional 940 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC upped their price objective on TTM Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Stifel Nicolaus began coverage on TTM Technologies in a research report on Tuesday, February 11th. They issued a “buy” rating and a $33.00 target price on the stock.

TTM Technologies Price Performance

Shares of TTMI opened at $26.45 on Friday. TTM Technologies has a fifty-two week low of $13.43 and a fifty-two week high of $30.41. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 48.98 and a beta of 1.19. The firm has a 50-day simple moving average of $25.25 and a 200-day simple moving average of $22.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.70 and a current ratio of 1.99.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. On average, equities research analysts anticipate that TTM Technologies will post 1.74 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.