TTM Technologies, Inc. (NASDAQ:TTMI) Short Interest Up 15.1% in January

TTM Technologies, Inc. (NASDAQ:TTMI) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,900,000 shares, an increase of 15.1% from the January 15th total of 2,520,000 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 666,400 shares, the days-to-cover ratio is currently 4.4 days.

Insider Buying and Selling

In related news, insider Jeff Jankowsky sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $24.23, for a total transaction of $121,150.00. Following the completion of the transaction, the insider now directly owns 55,273 shares of the company’s stock, valued at approximately $1,339,264.79. This represents a 8.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Philip Titterton sold 24,792 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $25.56, for a total value of $633,683.52. Following the transaction, the chief operating officer now directly owns 157,528 shares of the company’s stock, valued at $4,026,415.68. This trade represents a 13.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,653 shares of company stock worth $1,525,165. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of TTM Technologies

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its stake in TTM Technologies by 75.6% in the 3rd quarter. Jane Street Group LLC now owns 231,208 shares of the technology company’s stock valued at $4,220,000 after purchasing an additional 99,512 shares during the period. Natixis Advisors LLC boosted its stake in TTM Technologies by 131.7% in the 3rd quarter. Natixis Advisors LLC now owns 80,631 shares of the technology company’s stock valued at $1,471,000 after purchasing an additional 45,835 shares during the period. Quantbot Technologies LP bought a new stake in TTM Technologies in the 3rd quarter valued at $847,000. Geode Capital Management LLC boosted its stake in TTM Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,437,400 shares of the technology company’s stock valued at $44,491,000 after purchasing an additional 30,738 shares during the period. Finally, Mutual of America Capital Management LLC boosted its stake in TTM Technologies by 26.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 231,281 shares of the technology company’s stock valued at $4,221,000 after purchasing an additional 48,346 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TTMI has been the subject of several recent research reports. Stifel Nicolaus initiated coverage on TTM Technologies in a research report on Tuesday. They set a “buy” rating and a $33.00 price target for the company. Needham & Company LLC raised their price objective on TTM Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, February 6th.

TTM Technologies Stock Performance

Shares of TTMI traded up $0.29 during mid-day trading on Friday, reaching $26.45. The company’s stock had a trading volume of 536,698 shares, compared to its average volume of 746,067. TTM Technologies has a 1-year low of $13.43 and a 1-year high of $30.41. The stock has a market cap of $2.70 billion, a P/E ratio of 48.98 and a beta of 1.19. The business has a 50-day simple moving average of $25.25 and a two-hundred day simple moving average of $22.01. The company has a current ratio of 1.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. As a group, equities research analysts anticipate that TTM Technologies will post 1.74 earnings per share for the current fiscal year.

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.