TTM Technologies, Inc. (NASDAQ:TTMI) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 11,092,051 shares, a decrease of 11.5% from the July 14th total of 12,535,768 shares. Currently, 12.3% of the shares of the stock are sold short. Based on an average daily volume of 1,333,466 shares, the short-interest ratio is currently 8.3 days.
Shares of TTM Technologies (NASDAQ:TTMI) opened at 13.12 on Friday. TTM Technologies has a 1-year low of $10.04 and a 1-year high of $19.54. The stock has a 50 day moving average of $17.25 and a 200 day moving average of $16.57. The stock has a market cap of $1.34 billion, a PE ratio of 18.35 and a beta of 1.46.
TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $627.20 million during the quarter, compared to analyst estimates of $625.43 million. TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Equities research analysts forecast that TTM Technologies will post $1.53 EPS for the current year.
In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $18.43, for a total value of $55,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Daniel J. Weber sold 3,605 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total transaction of $64,601.60. Following the completion of the sale, the senior vice president now owns 48,270 shares of the company’s stock, valued at approximately $864,998.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,074 shares of company stock valued at $249,890. Insiders own 28.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in TTM Technologies during the first quarter worth $101,000. Riverhead Capital Management LLC raised its position in TTM Technologies by 71.5% in the second quarter. Riverhead Capital Management LLC now owns 6,860 shares of the technology company’s stock worth $119,000 after buying an additional 2,860 shares in the last quarter. Pacad Investment Ltd. purchased a new position in TTM Technologies during the second quarter worth $133,000. State of Alaska Department of Revenue raised its position in TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock worth $150,000 after buying an additional 140 shares in the last quarter. Finally, Sei Investments Co. raised its position in TTM Technologies by 197.1% in the second quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock worth $161,000 after buying an additional 6,127 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.
TTMI has been the subject of a number of recent research reports. TheStreet upgraded shares of TTM Technologies from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Tuesday, May 9th. Needham & Company LLC increased their price target on shares of TTM Technologies from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, June 9th. BidaskClub raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Finally, Stifel Nicolaus cut shares of TTM Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $18.50 to $19.00 in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.88.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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