TTM Technologies, Inc. (NASDAQ:TTMI – Get Free Report)’s stock price was up 9% during mid-day trading on Tuesday. The stock traded as high as $83.72 and last traded at $83.4610. Approximately 280,508 shares changed hands during trading, a decline of 90% from the average daily volume of 2,760,938 shares. The stock had previously closed at $76.58.
Wall Street Analysts Forecast Growth
TTMI has been the subject of several research reports. Weiss Ratings cut TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Wall Street Zen lowered TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Stifel Nicolaus cut their price target on TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Zacks Research cut TTM Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Truist Financial lowered their price objective on TTM Technologies from $231.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.25.
Check Out Our Latest Research Report on TTM Technologies
TTM Technologies Trading Down 15.2%
The business’s 50 day simple moving average is $111.32 and its 200-day simple moving average is $127.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.67 and a quick ratio of 1.49. The stock has a market capitalization of $6.55 billion, a P/E ratio of 24.79 and a beta of 2.25.
TTM Technologies (NASDAQ:TTMI – Get Free Report) last issued its earnings results on Thursday, October 22nd. The technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.25 by $0.21. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The business’s revenue for the quarter was up 59.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. As a group, analysts forecast that TTM Technologies, Inc. will post 4.36 EPS for the current year.
Insider Activity at TTM Technologies
In other TTM Technologies news, SVP Dale Knecht sold 26,198 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the transaction, the senior vice president owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. This represents a 39.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Edwin Roks bought 5,000 shares of TTM Technologies stock in a transaction on Wednesday, October 28th. The shares were bought at an average price of $88.07 per share, for a total transaction of $440,350.00. Following the acquisition, the chief executive officer owned 64,483 shares of the company’s stock, valued at approximately $5,679,017.81. The trade was a 8.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 35,000 shares of company stock worth $3,092,050. 1.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Investment Advisory LLC bought a new position in shares of TTM Technologies in the 2nd quarter valued at about $29,000. GoalVest Advisory LLC increased its position in shares of TTM Technologies by 456.7% in the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock valued at $31,000 after acquiring an additional 137 shares during the last quarter. Root Financial Partners LLC bought a new stake in TTM Technologies during the third quarter worth about $31,000. Parallel Advisors LLC raised its holdings in TTM Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after acquiring an additional 87 shares in the last quarter. Finally, Signature Equity Partners LLC acquired a new position in TTM Technologies during the first quarter valued at approximately $40,000. Institutional investors own 95.79% of the company’s stock.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.
TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.
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