Insider Selling: TTM Technologies (NASDAQ:TTMI) SVP Sells $3,720,116.00 in Stock

TTM Technologies, Inc. (NASDAQ:TTMI) SVP Dale Martin Knecht sold 26,198 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the transaction, the senior vice president owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. This represents a 39.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Dale Martin Knecht also recently made the following trade(s):

• On Thursday, June 25th, Dale Martin Knecht sold 2,014 shares of TTM Technologies stock. The shares were sold at an average price of $208.94, for a total transaction of $420,805.16.
• On Tuesday, June 23rd, Dale Martin Knecht sold 6,754 shares of TTM Technologies stock. The stock was sold at an average price of $209.79, for a total transaction of $1,416,921.66.

TTM Technologies Stock Up 5.6%

Shares of NASDAQ:TTMI opened at $138.10 on Thursday. The firm’s 50-day simple moving average is $159.10 and its 200-day simple moving average is $134.75. TTM Technologies, Inc. has a fifty-two week low of $39.20 and a fifty-two week high of $223.83. The company has a market cap of $14.55 billion, a price-to-earnings ratio of 62.21 and a beta of 2.14. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was up 37.4% on a year-over-year basis. As a group, equities research analysts predict that TTM Technologies, Inc. will post 3.92 earnings per share for the current year.

Wall Street Analyst Weigh In

TTMI has been the subject of several research analyst reports. Weiss Ratings raised shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Stifel Nicolaus increased their price objective on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Needham & Company LLC upped their price objective on shares of TTM Technologies from $208.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, B. Riley Financial raised their price objective on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, TTM Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $214.25.

Institutional Investors Weigh In On TTM Technologies

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of TTM Technologies during the 2nd quarter valued at about $2,053,347,000. Invesco Ltd. boosted its holdings in shares of TTM Technologies by 3.5% in the fourth quarter. Invesco Ltd. now owns 4,980,091 shares of the technology company’s stock valued at $343,626,000 after buying an additional 166,188 shares during the period. Whale Rock Capital Management LLC increased its position in shares of TTM Technologies by 112.1% during the fourth quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company’s stock worth $295,066,000 after acquiring an additional 2,260,035 shares in the last quarter. Polar Capital Holdings Plc bought a new position in TTM Technologies during the 3rd quarter worth about $176,376,000. Finally, Geode Capital Management LLC raised its stake in shares of TTM Technologies by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock valued at $184,119,000 after purchasing an additional 81,588 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.