TTM Technologies, Inc. (NASDAQ:TTMI) Sees Large Decline in Short Interest

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,120,000 shares, a drop of 29.6% from the March 15th total of 1,590,000 shares. Currently, 1.1% of the company's stock are sold short. Based on an average daily trading volume, of 716,000 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a "buy" rating and issued a $19.00 price target on shares of TTM Technologies in a report on Wednesday, January 31st.

Insider Buying and Selling at TTM Technologies

In other news, insider Tom Clapprood sold 3,500 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $16.48, for a total transaction of $57,680.00. Following the completion of the sale, the insider now owns 52,264 shares in the company, valued at approximately $861,310.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company's stock.

Institutional Trading of TTM Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in TTM Technologies in the 4th quarter worth $101,000. Counterpoint Mutual Funds LLC purchased a new position in TTM Technologies in the 3rd quarter worth $104,000. AXQ Capital LP purchased a new position in TTM Technologies in the 3rd quarter worth $144,000. Captrust Financial Advisors raised its position in TTM Technologies by 8.3% in the 4th quarter. Captrust Financial Advisors now owns 11,328 shares of the technology company's stock worth $171,000 after purchasing an additional 870 shares during the period. Finally, Royal Bank of Canada raised its position in TTM Technologies by 73.1% in the 2nd quarter. Royal Bank of Canada now owns 11,865 shares of the technology company's stock worth $164,000 after purchasing an additional 5,009 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Price Performance

NASDAQ:TTMI traded down $0.18 during trading hours on Friday, hitting $14.34. The stock had a trading volume of 324,753 shares, compared to its average volume of 689,777. The company has a 50 day simple moving average of $14.95 and a two-hundred day simple moving average of $14.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.03 and a quick ratio of 1.73. TTM Technologies has a one year low of $11.13 and a one year high of $16.53. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -79.66 and a beta of 1.39.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.05. The firm had revenue of $569.04 million for the quarter, compared to analysts' expectations of $572.03 million. TTM Technologies had a negative net margin of 0.84% and a positive return on equity of 7.83%. The business's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. Research analysts forecast that TTM Technologies will post 1.28 earnings per share for the current fiscal year.

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.