Insider Buying: TTM Technologies (NASDAQ:TTMI) CEO Acquires $440,350.00 in Stock

TTM Technologies, Inc. (NASDAQ:TTMI) CEO Edwin Roks purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, October 28th. The shares were purchased at an average cost of $88.07 per share, with a total value of $440,350.00. Following the completion of the transaction, the chief executive officer owned 64,483 shares of the company’s stock, valued at approximately $5,679,017.81. The trade was a 8.41% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edwin Roks also recently made the following trade(s):

• On Tuesday, August 25th, Edwin Roks acquired 10,000 shares of TTM Technologies stock. The stock was purchased at an average cost of $111.77 per share, for a total transaction of $1,117,700.00.

TTM Technologies Stock Down 5.4%

Shares of TTM Technologies stock opened at $82.94 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.67 and a debt-to-equity ratio of 0.71. The company has a market cap of $8.74 billion, a P/E ratio of 33.04 and a beta of 2.14. The firm’s 50 day moving average price is $113.29 and its 200-day moving average price is $127.55. TTM Technologies, Inc. has a 52-week low of $55.44 and a 52-week high of $223.83.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Thursday, October 22nd. The technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.21. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. TTM Technologies’s revenue for the quarter was up 59.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, sell-side analysts predict that TTM Technologies, Inc. will post 4.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TTMI shares. Truist Financial dropped their target price on TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Needham & Company LLC dropped their price target on TTM Technologies from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Wall Street Zen upgraded shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 24th. Finally, Stifel Nicolaus cut their price objective on shares of TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.25.

Hedge Funds Weigh In On TTM Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in TTM Technologies during the 2nd quarter valued at approximately $2,053,347,000. Wellington Management Group LLP grew its position in shares of TTM Technologies by 61.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock valued at $424,237,000 after acquiring an additional 867,255 shares during the period. Atalan Capital Partners LP acquired a new stake in TTM Technologies in the second quarter valued at approximately $189,234,000. Bank of New York Mellon Corp purchased a new stake in shares of TTM Technologies in the second quarter valued at approximately $114,470,000. Finally, Palestra Capital Management LLC purchased a new stake in shares of TTM Technologies in the second quarter valued at approximately $105,214,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

About TTM Technologies

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.