TTM Technologies, Inc. (NASDAQ:TTMI) Short Interest Up 17.5% in August

TTM Technologies, Inc. (NASDAQ:TTMI) was the recipient of a large 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. Approximately 1.8% of the shares of the company are short sold. Based on an average daily volume of 950,300 shares, the days-to-cover ratio is currently 1.9 days.

Insider Buying and Selling

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 sale, the executive vice president now owns 101,741 shares of the company’s stock, valued at approximately $2,085,690.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Shawn A. Powers sold 7,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total value of $143,500.00. Following the sale, the executive vice president now directly 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 hyperlink. Also, insider Jeff Jankowsky sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $20.04, for a total transaction of $200,400.00. Following the transaction, the insider now owns 60,273 shares of the company’s stock, valued at $1,207,870.92. The disclosure for this sale can be found here. Insiders sold 132,009 shares of company stock worth $2,500,659 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in TTM Technologies by 5.1% in the fourth quarter. Russell Investments Group Ltd. now owns 73,495 shares of the technology company’s stock valued at $1,162,000 after buying an additional 3,586 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $30,697,000 after acquiring an additional 96,265 shares in the last quarter. Jump Financial LLC purchased a new stake in TTM Technologies during the fourth quarter worth approximately $731,000. Dimensional Fund Advisors LP increased its stake in TTM Technologies by 1.5% in 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 last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of TTM Technologies by 36.3% during the 4th quarter. Panagora Asset Management Inc. now owns 472,739 shares of the technology company’s stock worth $7,474,000 after buying an additional 125,810 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Trading Down 0.3 %

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

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. The business had revenue of $605.10 million for the quarter, compared to analyst estimates of $582.70 million. TTM Technologies had a return on equity of 9.01% and a net margin of 0.74%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. As a group, research analysts forecast that TTM Technologies will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About TTM Technologies

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.