TTM Technologies, Inc. (NASDAQ:TTMI) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 13,870,000 shares, an increase of 80.4% from the December 15th total of 7,690,000 shares. Based on an average trading volume of 1,450,000 shares, the short-interest ratio is presently 9.6 days. Approximately 14.1% of the shares of the stock are short sold.
Several analysts have recently weighed in on TTMI shares. Smith Barney Citigroup started coverage on shares of TTM Technologies in a research note on Monday, September 21st. They issued an “outperform” rating and a $15.00 price target for the company. Zacks Investment Research cut shares of TTM Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, October 8th. BidaskClub raised shares of TTM Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, December 8th. ValuEngine raised shares of TTM Technologies from a “hold” rating to a “buy” rating in a research report on Friday, October 30th. Finally, Craig Hallum assumed coverage on shares of TTM Technologies in a research report on Tuesday, September 29th. They set a “buy” rating and a $15.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $14.50.
In related news, SVP William Kent Hardwick sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $12.95, for a total transaction of $51,800.00. Following the completion of the sale, the senior vice president now owns 79,654 shares of the company’s stock, valued at approximately $1,031,519.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.85% of the stock is currently owned by corporate insiders.
TTM Technologies stock opened at $14.13 on Thursday. The firm has a market cap of $1.51 billion, a PE ratio of 6.63 and a beta of 1.79. TTM Technologies has a 52-week low of $8.06 and a 52-week high of $16.25. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $13.62 and its two-hundred day moving average is $12.34.
TTM Technologies (NASDAQ:TTMI) last released its earnings results on Wednesday, October 28th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.20. The company had revenue of $513.58 million for the quarter, compared to analyst estimates of $492.54 million. TTM Technologies had a net margin of 9.30% and a return on equity of 3.60%. On average, equities research analysts anticipate that TTM Technologies will post 0.17 earnings per share for the current fiscal year.
About TTM Technologies
TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. The company operates through two segments, PCB and E-M Solutions. The company offers a range of PCB products, radio-frequency (RF) components, and electro-mechanical solutions, including conventional PCBs, RF and microwave circuits, high density interconnect PCBs, substrate-like PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, IC substrates, passive RF components, advanced ceramic RF components, multi-chip modules, and beamforming and switching networks.
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