TTM Technologies (NASDAQ:TTMI) Shares Up 13.2% on Insider Buying Activity

TTM Technologies, Inc. (NASDAQ:TTMI)’s share price shot up 13.2% during trading on Monday following insider buying activity. The company traded as high as $74.91 and last traded at $75.2780. Approximately 1,258,851 shares were traded during trading, a decline of 55% from the average daily volume of 2,823,564 shares. The stock had previously closed at $66.51.

Specifically, Director Philip G. Franklin bought 5,000 shares of TTM Technologies stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $61.92 per share, with a total value of $309,600.00. Following the completion of the purchase, the director directly owned 161,725 shares of the company’s stock, valued at approximately $10,014,012. This trade represents a 3.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wajid Ali bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average price of $63.15 per share, with a total value of $631,500.00. Following the acquisition, the director directly owned 45,835 shares in the company, valued at $2,894,480.25. The trade was a 27.91% increase in their position. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Truist Financial reduced their price objective on TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Needham & Company LLC dropped their price objective on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Wall Street Zen cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 1st. Weiss Ratings lowered shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Finally, Stifel Nicolaus reduced their target price on shares of TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, TTM Technologies has an average rating of “Moderate Buy” and a consensus price target of $173.25.

TTM Technologies Stock Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 1.67. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 30.20 and a beta of 2.25. The company’s fifty day simple moving average is $108.96 and its two-hundred day simple moving average is $126.91.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Thursday, October 22nd. The technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.21. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. TTM Technologies had a return on equity of 19.19% and a net margin of 7.01%. TTM Technologies’s quarterly revenue was up 59.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. Equities research analysts predict that TTM Technologies, Inc. will post 4.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TTM Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Investment Advisory LLC purchased a new position in TTM Technologies during the second quarter valued at approximately $29,000. GoalVest Advisory LLC boosted its holdings in TTM Technologies by 456.7% during 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 period. Root Financial Partners LLC bought a new stake in shares of TTM Technologies in the third quarter valued at approximately $31,000. Parallel Advisors LLC grew its position in TTM Technologies by 36.2% in the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after purchasing an additional 87 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in TTM Technologies during the third quarter valued at about $35,000. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

TTM Technologies, Inc designs and manufactures printed circuit boards (PCBs) and radio-frequency (RF) and microwave components and assemblies. Its products support the development and operation of electronic systems used in communications, data infrastructure, aerospace and defense, automotive, medical, and industrial applications.

The company provides engineering and manufacturing services, including PCB design support, prototyping, and production. TTM serves customers around the world through operations in North America and Asia.

Founded in 1998, TTM Technologies is headquartered in Santa Ana, California.