Insider Selling: TTM Technologies, Inc. (NASDAQ:TTMI) EVP Sells 24,972 Shares of Stock

TTM Technologies, Inc. (NASDAQ:TTMI) EVP Douglas L. Soder sold 24,972 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total transaction of $749,160.00. Following the sale, the executive vice president now owns 173,026 shares of the company’s stock, valued at $5,190,780. This trade represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TTM Technologies Stock Performance

Shares of NASDAQ:TTMI opened at $29.37 on Friday. The company’s 50 day simple moving average is $21.84 and its 200 day simple moving average is $23.68. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 54.39 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 1 year low of $15.77 and a 1 year high of $30.41.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The business had revenue of $648.67 million for the quarter, compared to analysts’ expectations 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, research analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its Board of Directors has initiated a share repurchase plan on Friday, May 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TTMI. USA Financial Formulas bought a new position in TTM Technologies in the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC increased its stake in TTM Technologies by 670.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,220 shares during the last quarter. Quarry LP increased its stake in TTM Technologies by 249.9% in the first quarter. Quarry LP now owns 2,110 shares of the technology company’s stock valued at $43,000 after acquiring an additional 1,507 shares during the last quarter. Sterling Capital Management LLC boosted its position in TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company’s stock valued at $79,000 after buying an additional 2,831 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in TTM Technologies in the fourth quarter valued at approximately $83,000. 95.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on TTMI shares. Truist Financial lowered 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. Stifel Nicolaus started coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They set a “buy” rating and a $33.00 target price on the stock. Needham & Company LLC raised 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. Finally, B. Riley raised 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.

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.