TTM Technologies, Inc. (NASDAQ:TTMI) Short Interest Update

Key Points

• Short interest in TTM Technologies fell sharply in June, dropping 46.6% to 2.35 million shares as of June 30. That represents about 2.3% of shares outstanding and only 0.6 days to cover.
• Insiders have been selling shares, including two executive vice presidents who sold stock in late June. Over the last 90 days, insiders sold 82,043 shares worth about $17.2 million.
• Analysts remain broadly bullish on TTMI, with five Buy ratings and one Hold, and an average price target of $212. The stock recently traded at $137.40, while the company also reported better-than-expected quarterly earnings and revenue growth.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 2,348,406 shares, a decline of 46.6% from the June 15th total of 4,398,332 shares. Approximately 2.3% of the company's shares are short sold. Based on an average daily volume of 3,776,221 shares, the days-to-cover ratio is presently 0.6 days.

Insiders Place Their Bets

In other news, EVP Catherine A. Gridley sold 8,966 shares of TTM Technologies stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the sale, the executive vice president owned 69,679 shares of the company's stock, valued at approximately $14,618,654.20. The trade was a 11.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Shawn A. Powers sold 9,856 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $2,067,788.80. Following the transaction, the executive vice president owned 119,268 shares in the company, valued at $25,022,426.40. This represents a 7.63% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 82,043 shares of company stock worth $17,191,859. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TTMI. Royal Bank of Canada raised its holdings in TTM Technologies by 66.6% during the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company's stock valued at $543,000 after acquiring an additional 10,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of TTM Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company's stock worth $1,232,000 after acquiring an additional 2,632 shares during the period. Goldman Sachs Group Inc. grew its position in shares of TTM Technologies by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after purchasing an additional 115,766 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of TTM Technologies by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company's stock worth $3,908,000 after purchasing an additional 13,691 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in TTM Technologies by 1,150.2% during the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock valued at $2,869,000 after purchasing an additional 128,700 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on TTMI shares. Stifel Nicolaus increased their target price on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Needham & Company LLC lifted their price objective on TTM Technologies from $208.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Weiss Ratings reissued a "buy (b-)" rating on shares of TTM Technologies in a research report on Monday, May 18th. Truist Financial upped their price target on shares of TTM Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, B. Riley Financial increased their price objective on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $212.00.

TTM Technologies Stock Performance

NASDAQ TTMI traded down $4.57 on Wednesday, hitting $137.40. 695,621 shares of the company traded hands, compared to its average volume of 2,555,815. The business's 50 day moving average price is $177.40 and its 200-day moving average price is $127.57. TTM Technologies has a 52-week low of $39.20 and a 52-week high of $223.83. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 74.25 and a beta of 2.10.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. TTM Technologies had a return on equity of 13.70% and a net margin of 6.29%.The company had revenue of $845.98 million during the quarter, compared to the consensus estimate of $789.84 million. During the same period in the previous year, the company posted $0.50 EPS. The firm's revenue was up 30.4% on a year-over-year basis. TTM Technologies has set its Q2 2026 guidance at 0.820-0.880 EPS. Equities analysts expect that TTM Technologies will post 3.66 earnings per share for the current year.

TTM Technologies Company Profile

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company's product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.