TTM Technologies, Inc. (NASDAQ:TTMI) Sees Significant Decrease in Short Interest

TTM Technologies, Inc. (NASDAQ:TTMIGet Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,950,000 shares, a decrease of 20.1% from the October 31st total of 2,440,000 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average trading volume of 742,000 shares, the days-to-cover ratio is presently 2.6 days.

Insider Transactions at TTM Technologies

In other news, EVP Catherine A. Gridley sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $25.15, for a total transaction of $125,750.00. Following the sale, the executive vice president now owns 115,296 shares of the company’s stock, valued at approximately $2,899,694.40. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Shawn A. Powers sold 6,400 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $23.74, for a total transaction of $151,936.00. Following the completion of the transaction, the executive vice president now directly owns 95,341 shares of the company’s stock, valued at approximately $2,263,395.34. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,044 shares of company stock worth $413,803. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TTM Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TTMI. CANADA LIFE ASSURANCE Co lifted its holdings in TTM Technologies by 6.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,880 shares of the technology company’s stock worth $1,421,000 after buying an additional 5,870 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in TTM Technologies by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,144 shares of the technology company’s stock valued at $989,000 after purchasing an additional 3,592 shares in the last quarter. Comerica Bank increased its stake in TTM Technologies by 9.4% in the first quarter. Comerica Bank now owns 116,629 shares of the technology company’s stock valued at $1,825,000 after purchasing an additional 9,999 shares during the last quarter. Cascade Investment Advisors Inc. acquired a new stake in TTM Technologies during the second quarter worth approximately $457,000. Finally, CWM LLC lifted its position in shares of TTM Technologies by 202.6% during the 2nd quarter. CWM LLC now owns 1,858 shares of the technology company’s stock worth $36,000 after buying an additional 1,244 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

TTM Technologies Stock Up 1.0 %

Shares of TTM Technologies stock opened at $24.38 on Monday. The company has a quick ratio of 1.70, a current ratio of 2.00 and a debt-to-equity ratio of 0.59. TTM Technologies has a 52-week low of $13.43 and a 52-week high of $25.49. The company has a market capitalization of $2.49 billion, a P/E ratio of 36.94 and a beta of 1.22. The company has a 50 day moving average of $21.14 and a 200 day moving average of $19.86.

Analyst Ratings Changes

Separately, Needham & Company LLC upped their price objective on TTM Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

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About TTM Technologies

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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.

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