Daniel J. Weber Sells 20,170 Shares of TTM Technologies, Inc. (NASDAQ:TTMI) Stock

TTM Technologies, Inc. (NASDAQ:TTMI) EVP Daniel J. Weber sold 20,170 shares of the business’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 completion of the sale, the executive vice president now owns 74,983 shares in the company, valued at $2,212,748.33. The trade was a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TTM Technologies Stock Performance

TTM Technologies stock opened at $29.10 on Friday. The firm’s 50 day simple moving average is $21.69 and its 200-day simple moving average is $23.61. The company has a market cap of $2.96 billion, a P/E ratio of 53.89 and a beta of 1.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $30.41.

TTM Technologies (NASDAQ:TTMI) last released its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The business had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. As a group, equities research analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies declared that its board has authorized a stock repurchase program on Friday, May 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TTMI. Barclays PLC increased its position in shares of TTM Technologies by 59.8% in the third quarter. Barclays PLC now owns 407,524 shares of the technology company’s stock worth $7,437,000 after acquiring an additional 152,456 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of TTM Technologies by 262.5% during the third quarter. Franklin Resources Inc. now owns 309,724 shares of the technology company’s stock worth $5,937,000 after purchasing an additional 224,286 shares during the period. GAMMA Investing LLC boosted its holdings in shares of TTM Technologies by 27.7% during the fourth quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company’s stock worth $51,000 after purchasing an additional 443 shares during the period. USA Financial Formulas acquired a new stake in shares of TTM Technologies during the fourth quarter worth approximately $25,000. Finally, KBC Group NV boosted its holdings in shares of TTM Technologies by 47.4% during the fourth quarter. KBC Group NV now owns 4,404 shares of the technology company’s stock worth $109,000 after purchasing an additional 1,416 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.