Dale Martin Knecht Sells 7,487 Shares of TTM Technologies, Inc. (NASDAQ:TTMI) Stock

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) SVP Dale Martin Knecht sold 7,487 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $39.01, for a total transaction of $292,067.87. Following the completion of the sale, the senior vice president now owns 59,947 shares of the company's stock, valued at approximately $2,338,532.47. The trade was a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, June 24th, Dale Martin Knecht sold 3,309 shares of TTM Technologies stock. The shares were sold at an average price of $37.08, for a total value of $122,697.72.
• On Monday, June 9th, Dale Martin Knecht sold 7,662 shares of TTM Technologies stock. The stock was sold at an average price of $34.16, for a total value of $261,733.92.
• On Thursday, June 5th, Dale Martin Knecht sold 1,140 shares of TTM Technologies stock. The shares were sold at an average price of $34.00, for a total value of $38,760.00.
• On Tuesday, May 13th, Dale Martin Knecht sold 10,000 shares of TTM Technologies stock. The stock was sold at an average price of $29.52, for a total value of $295,200.00.

TTM Technologies Trading Up 3.5%

TTMI stock traded up $1.33 during mid-day trading on Wednesday, hitting $39.20. 2,729,808 shares of the company were exchanged, compared to its average volume of 840,356. TTM Technologies, Inc. has a 12-month low of $15.77 and a 12-month high of $40.53. The firm has a market capitalization of $3.98 billion, a P/E ratio of 23.52 and a beta of 1.37. The business has a fifty day simple moving average of $28.59 and a 200-day simple moving average of $25.40. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $648.67 million during the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a net margin of 3.09% and a return on equity of 10.75%. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. On average, equities research analysts predict that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies announced that its board has initiated a stock buyback 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 reacquire up to 3.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On TTM Technologies

Hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of TTM Technologies by 670.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock worth $35,000 after purchasing an additional 1,220 shares in the last quarter. Quarry LP increased its stake in TTM Technologies by 249.9% during the 1st quarter. Quarry LP now owns 2,110 shares of the technology company's stock worth $43,000 after buying an additional 1,507 shares during the period. USA Financial Formulas lifted its holdings in TTM Technologies by 119.1% during the 1st quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock worth $46,000 after buying an additional 1,216 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of 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 acquiring an additional 2,831 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in TTM Technologies in the fourth quarter valued at $89,000. Institutional investors and hedge funds own 95.79% of the company's stock.

Wall Street Analysts Forecast Growth

TTMI has been the subject of several recent analyst reports. Needham & Company LLC raised their price objective on shares of TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. B. Riley raised their price target 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. Truist Financial upped their price objective on TTM Technologies from $36.00 to $41.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $40.00 target price (up previously from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th.

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.

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