TTM Technologies, Inc. (NASDAQ:TTMI) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 13,871,308 shares, a decrease of 9.4% from the March 15th total of 15,303,002 shares. Currently, 15.6% of the company’s shares are sold short. Based on an average daily volume of 1,156,726 shares, the short-interest ratio is currently 12.0 days.

In other TTM Technologies news, CFO Todd B. Schull sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the sale, the chief financial officer now owns 126,385 shares of the company’s stock, valued at $1,895,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas L. Soder sold 6,666 shares of the company’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $15.00, for a total transaction of $99,990.00. Following the completion of the sale, the insider now directly owns 91,749 shares of the company’s stock, valued at approximately $1,376,235. The disclosure for this sale can be found here. Insiders sold 4,140,348 shares of company stock valued at $65,082,708 in the last ninety days. Insiders own 28.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of TTM Technologies during the fourth quarter worth approximately $28,113,000. Two Sigma Investments LP raised its stake in shares of TTM Technologies by 175.6% in the fourth quarter. Two Sigma Investments LP now owns 1,508,915 shares of the technology company’s stock worth $20,567,000 after buying an additional 961,319 shares during the period. Macquarie Group Ltd. raised its stake in shares of TTM Technologies by 80.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,911,887 shares of the technology company’s stock worth $26,059,000 after buying an additional 853,059 shares during the period. Numeric Investors LLC raised its stake in shares of TTM Technologies by 129.2% in the fourth quarter. Numeric Investors LLC now owns 1,455,350 shares of the technology company’s stock worth $19,836,000 after buying an additional 820,300 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of TTM Technologies by 54.9% in the fourth quarter. Systematic Financial Management LP now owns 1,942,231 shares of the technology company’s stock worth $26,473,000 after buying an additional 688,007 shares during the period. Institutional investors and hedge funds own 80.99% of the company’s stock.

Shares of TTM Technologies (NASDAQ:TTMI) opened at 16.02 on Friday. The stock’s 50 day moving average is $15.97 and its 200 day moving average is $14.45. TTM Technologies has a 12 month low of $6.22 and a 12 month high of $17.86. The company has a market cap of $1.61 billion, a P/E ratio of 47.12 and a beta of 1.39.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, February 8th. The technology company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.13. The business earned $706.50 million during the quarter, compared to analyst estimates of $671.57 million. TTM Technologies had a net margin of 1.38% and a return on equity of 15.90%. TTM Technologies’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. On average, analysts anticipate that TTM Technologies will post $1.60 EPS for the current fiscal year.

Several equities research analysts have commented on TTMI shares. Stifel Nicolaus upped their target price on shares of TTM Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Needham & Company LLC upped their target price on shares of TTM Technologies from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. TheStreet downgraded shares of TTM Technologies from a “b-” rating to a “c” rating in a research note on Wednesday, March 22nd. Zacks Investment Research raised shares of TTM Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Finally, JPMorgan Chase & Co. downgraded shares of TTM Technologies from an “overweight” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Friday, February 17th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. TTM Technologies currently has a consensus rating of “Buy” and an average price target of $19.00.

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About TTM Technologies

TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.

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