Insider Selling: TTM Technologies, Inc. (NASDAQ:TTMI) EVP Sells 20,170 Shares of Stock

TTM Technologies, Inc. (NASDAQ:TTMI) EVP Daniel J. Weber sold 20,170 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total transaction of $595,216.70. Following the sale, the executive vice president now owns 74,983 shares of the company’s stock, valued at approximately $2,212,748.33. This represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

TTM Technologies Price Performance

NASDAQ TTMI opened at $29.10 on Friday. The company has a 50 day moving average price of $21.69 and a two-hundred day moving average price of $23.61. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. TTM Technologies, Inc. has a 12-month low of $15.77 and a 12-month high of $30.41. The stock has a market capitalization of $2.96 billion, a PE ratio of 53.89 and a beta of 1.20.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The business had revenue of $648.67 million during the quarter, compared to analysts’ expectations of $621.44 million. During the same period in the previous year, the company earned $0.28 earnings per share. TTM Technologies’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts predict that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies announced that its Board of Directors has authorized a share buyback program on Friday, May 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of TTM Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC lifted its stake in shares of TTM Technologies by 1,070.1% in the first quarter. Cubist Systematic Strategies LLC now owns 470,679 shares of the technology company’s stock worth $9,654,000 after buying an additional 430,453 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of TTM Technologies by 66.6% in the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company’s stock worth $543,000 after buying an additional 10,565 shares during the last quarter. Graham Capital Management L.P. increased its position in TTM Technologies by 143.1% during the first quarter. Graham Capital Management L.P. now owns 110,755 shares of the technology company’s stock worth $2,272,000 after acquiring an additional 65,204 shares during the period. Paradigm Capital Management Inc. NY increased its position in TTM Technologies by 23.0% during the first quarter. Paradigm Capital Management Inc. NY now owns 53,500 shares of the technology company’s stock worth $1,097,000 after acquiring an additional 10,000 shares during the period. Finally, Quarry LP increased its position in TTM Technologies by 249.9% during the first quarter. Quarry LP now owns 2,110 shares of the technology company’s stock worth $43,000 after acquiring an additional 1,507 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TTMI. B. Riley lifted their target price on shares of TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Needham & Company LLC lifted their target price on shares of TTM Technologies from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Stifel Nicolaus began coverage on shares of TTM Technologies in a research note on Tuesday, February 11th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Truist Financial reduced their target price on shares of TTM Technologies from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, May 1st.

About TTM Technologies

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.