Insider Selling: TTM Technologies, Inc. (NASDAQ:TTMI) Insider Sells 10,000 Shares of Stock

TTM Technologies, Inc. (NASDAQ:TTMI) insider Tom Clapprood sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the transaction, the insider now directly owns 34,037 shares in the company, valued at approximately $1,004,091.50. This represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

TTM Technologies Trading Up 8.5%

Shares of TTMI stock opened at $32.39 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.29 billion, a P/E ratio of 59.98 and a beta of 1.20. The stock has a 50 day simple moving average of $23.60 and a 200 day simple moving average of $24.18. TTM Technologies, Inc. has a 1 year low of $15.77 and a 1 year high of $32.44.

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

TTM Technologies declared that its board has approved a stock 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 purchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On TTM Technologies

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its holdings in TTM Technologies by 7.8% in the 4th quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company’s stock valued at $28,700,000 after buying an additional 84,137 shares during the period. Victory Capital Management Inc. increased its holdings in TTM Technologies by 391.6% in the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock valued at $24,268,000 after buying an additional 781,058 shares during the period. Emerald Mutual Fund Advisers Trust increased its holdings in TTM Technologies by 5.0% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 582,525 shares of the technology company’s stock valued at $14,417,000 after buying an additional 27,980 shares during the period. Deutsche Bank AG increased its holdings in TTM Technologies by 46.8% in the 4th quarter. Deutsche Bank AG now owns 86,547 shares of the technology company’s stock valued at $2,142,000 after buying an additional 27,584 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in TTM Technologies by 33.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 40,122 shares of the technology company’s stock valued at $993,000 after buying an additional 9,980 shares during the period. 95.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TTMI has been the subject of a number of recent research reports. B. Riley boosted their price objective on shares of TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Truist Financial dropped their price target on shares of TTM Technologies from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC boosted their price target on TTM Technologies from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus assumed coverage on TTM Technologies in a research note on Tuesday, February 11th. They issued a “buy” rating and a $33.00 price target for the company.

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.