TTM Technologies, Inc. (NASDAQ:TTMI) Short Interest Up 5.3% in September

TTM Technologies, Inc. (NASDAQ:TTMI) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 15,030,000 shares, an increase of 5.3% from the August 30th total of 14,270,000 shares. Approximately 15.5% of the company’s stock are sold short. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is currently 13.4 days.

Several equities research analysts have recently commented on TTMI shares. Stifel Nicolaus increased their price objective on TTM Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded TTM Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 11th. ValuEngine raised TTM Technologies from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. B. Riley started coverage on TTM Technologies in a report on Thursday, September 5th. They issued a “buy” rating and a $17.75 price objective for the company. Finally, JPMorgan Chase & Co. downgraded TTM Technologies from an “overweight” rating to a “neutral” rating and set a $14.00 price objective for the company. in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.44.

TTMI opened at $12.32 on Thursday. TTM Technologies has a 1-year low of $8.49 and a 1-year high of $14.87. The stock’s fifty day simple moving average is $11.79 and its 200 day simple moving average is $10.99. The company has a current ratio of 1.91, a quick ratio of 1.71 and a debt-to-equity ratio of 1.21. The stock has a market cap of $1.27 billion, a PE ratio of 8.93 and a beta of 2.52.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. TTM Technologies had a return on equity of 6.56% and a net margin of 2.93%. The business had revenue of $633.04 million for the quarter, compared to analysts’ expectations of $622.68 million. During the same quarter in the prior year, the business earned $0.48 EPS. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. Equities analysts forecast that TTM Technologies will post 0.46 earnings per share for the current year.

In other news, SVP Daniel J. Weber sold 20,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $10.70, for a total value of $214,000.00. Following the completion of the sale, the senior vice president now owns 57,734 shares of the company’s stock, valued at approximately $617,753.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony J. Princiotta sold 23,222 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $10.09, for a total value of $234,309.98. Following the completion of the sale, the insider now directly owns 51,408 shares of the company’s stock, valued at approximately $518,706.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,939 shares of company stock valued at $784,007. Insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new stake in TTM Technologies in the 2nd quarter valued at $45,000. First Mercantile Trust Co. raised its stake in TTM Technologies by 304.1% in the 2nd quarter. First Mercantile Trust Co. now owns 8,809 shares of the technology company’s stock valued at $90,000 after acquiring an additional 6,629 shares during the period. Miles Capital Inc. bought a new stake in TTM Technologies in the 2nd quarter valued at $105,000. Advisor Partners LLC bought a new stake in TTM Technologies in the 3rd quarter valued at $134,000. Finally, Neuburgh Advisers LLC raised its stake in TTM Technologies by 30.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 11,568 shares of the technology company’s stock valued at $118,000 after acquiring an additional 2,720 shares during the period.

About TTM Technologies

TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments, PCB and E-M Solutions. The company offers a range of PCBs and electro-mechanical solutions, including conventional PCBs, high density interconnect PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, and IC substrates.

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