Short Interest in TTM Technologies, Inc. (NASDAQ:TTMI) Increases By 17.5%

TTM Technologies, Inc. (NASDAQ:TTMI) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,810,000 shares, a growth of 17.5% from the August 15th total of 1,540,000 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 950,300 shares, the days-to-cover ratio is currently 1.9 days.

Insiders Place Their Bets

In other TTM Technologies news, EVP Shawn A. Powers sold 7,000 shares of TTM Technologies stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $20.50, for a total transaction of $143,500.00. Following the completion of the transaction, the executive vice president now owns 101,741 shares of the company’s stock, valued at approximately $2,085,690.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other TTM Technologies news, EVP Daniel J. Weber sold 13,000 shares of TTM Technologies stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $19.00, for a total transaction of $247,000.00. Following the transaction, the executive vice president now directly owns 94,488 shares of the company’s stock, valued at $1,795,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Shawn A. Powers sold 7,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $20.50, for a total transaction of $143,500.00. Following the sale, the executive vice president now owns 101,741 shares of the company’s stock, valued at $2,085,690.50. The disclosure for this sale can be found here. Insiders sold 132,009 shares of company stock valued at $2,500,659 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTMI. Vanguard Group Inc. boosted its position 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 valued at $212,998,000 after buying an additional 63,073 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of TTM Technologies by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,299,477 shares of the technology company’s stock valued at $131,216,000 after purchasing an additional 121,498 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of TTM Technologies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,941,612 shares of the technology company’s stock worth $30,697,000 after purchasing an additional 96,265 shares during the last quarter. American Century Companies Inc. increased its stake in TTM Technologies by 88.8% in the 2nd quarter. American Century Companies Inc. now owns 1,479,403 shares of the technology company’s stock worth $28,745,000 after buying an additional 695,844 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in TTM Technologies by 4.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 934,498 shares of the technology company’s stock valued at $14,774,000 after buying an additional 40,111 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI traded down $0.06 during trading on Monday, hitting $18.20. 16,951 shares of the company’s stock were exchanged, compared to its average volume of 770,192. The business’s 50-day simple moving average is $19.51 and its 200 day simple moving average is $17.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.04 and a quick ratio of 1.74. TTM Technologies has a 52-week low of $11.14 and a 52-week high of $22.70. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -912.54 and a beta of 1.26.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. The business had revenue of $605.10 million for the quarter, compared to analysts’ expectations of $582.70 million. During the same quarter in the previous year, the company earned $0.28 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that TTM Technologies will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. B. Riley lifted their price objective on TTM Technologies from $25.50 to $27.25 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC increased their price target on shares of TTM Technologies from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their target price on TTM Technologies from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Truist Financial restated a “buy” rating and issued a $24.00 target price (up previously from $22.00) on shares of TTM Technologies in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, TTM Technologies presently has an average rating of “Buy” and an average target price of $24.31.

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.