TTM Technologies, Inc. (TTMI) Sees Significant Decline in Short Interest
TTM Technologies, Inc. (NASDAQ:TTMI) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 11,092,051 shares, a decline of 11.5% from the July 14th total of 12,535,768 shares. Approximately 12.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,333,466 shares, the days-to-cover ratio is presently 8.3 days.
TTMI has been the topic of several recent research reports. TheStreet upgraded shares of TTM Technologies from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. BidaskClub lowered shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Needham & Company LLC lifted their price target on shares of TTM Technologies from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Zacks Investment Research lowered shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, Stifel Nicolaus lowered shares of TTM Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $18.50 to $19.00 in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. TTM Technologies presently has a consensus rating of “Hold” and an average price target of $19.88.
TTM Technologies (NASDAQ:TTMI) opened at 13.20 on Tuesday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 18.46 and a beta of 1.46. TTM Technologies has a 1-year low of $10.04 and a 1-year high of $19.54. The company has a 50-day moving average of $17.11 and a 200-day moving average of $16.58.
TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.04. The business had revenue of $627.20 million for the quarter, compared to the consensus estimate of $625.43 million. TTM Technologies had a return on equity of 17.05% and a net margin of 2.97%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. Analysts predict that TTM Technologies will post $1.53 earnings per share for the current year.
In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through the SEC website. Also, SVP Daniel J. Weber sold 3,605 shares of TTM Technologies stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $17.92, for a total transaction of $64,601.60. Following the completion of the transaction, the senior vice president now owns 48,270 shares in the company, valued at approximately $864,998.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,074 shares of company stock worth $201,140. 28.40% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of TTMI. Teachers Advisors LLC increased its stake in shares of TTM Technologies by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 1,335,990 shares of the technology company’s stock valued at $18,210,000 after buying an additional 45,019 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of TTM Technologies by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 34,400 shares of the technology company’s stock valued at $555,000 after buying an additional 500 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of 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 valued at $150,000 after buying an additional 140 shares during the last quarter. Navellier & Associates Inc increased its stake in shares of TTM Technologies by 5.4% in the first quarter. Navellier & Associates Inc now owns 49,439 shares of the technology company’s stock valued at $797,000 after buying an additional 2,527 shares during the last quarter. Finally, James Investment Research Inc. purchased a new stake in shares of TTM Technologies during the first quarter valued at approximately $1,989,000. 95.16% of the stock is owned by hedge funds and other institutional investors.
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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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