TTM Technologies, Inc. $TTMI Stock Sold by Moody National Bank Trust Division

Key Points

• Moody National Bank Trust Division cut its TTM Technologies stake by 39.9% in the third quarter, selling 9,113 shares and retaining 13,744 shares valued at approximately $1.69 million. Institutional investors collectively own 95.79% of the company.
• Analysts remain broadly positive, with TTM Technologies carrying a consensus “Buy” rating and an average price target of $203.00, despite some recent rating and target-price reductions.
• TTM reported strong quarterly results, earning $0.99 per share versus the $0.89 estimate and generating $1.0 billion in revenue, up 37.4% year over year. The stock opened at $132.71, well below its 52-week high of $223.83.

Moody National Bank Trust Division trimmed its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 39.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,744 shares of the technology company's stock after selling 9,113 shares during the period. Moody National Bank Trust Division's holdings in TTM Technologies were worth $1,688,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC acquired a new position in shares of TTM Technologies in the second quarter worth about $29,000. GoalVest Advisory LLC grew its position in shares of TTM Technologies by 456.7% during the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock worth $31,000 after buying an additional 137 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in TTM Technologies in the second quarter valued at $47,000. Persistent Asset Partners Ltd acquired a new position in TTM Technologies during the 2nd quarter worth $49,000. Finally, Parallel Advisors LLC increased its position in shares of TTM Technologies by 36.2% in the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company's stock worth $32,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on TTM Technologies from $215.00 to $224.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Zacks Research upgraded TTM Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Wall Street Zen cut TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 30th. Weiss Ratings cut shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Finally, Needham & Company LLC reduced their price target on shares of TTM Technologies from $220.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $203.00.

TTM Technologies Stock Down 0.3%

Shares of TTMI stock opened at $132.71 on Wednesday. TTM Technologies, Inc. has a 1 year low of $53.36 and a 1 year high of $223.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The business's fifty day moving average is $123.61 and its 200-day moving average is $141.51. The stock has a market cap of $13.98 billion, a PE ratio of 59.78 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.10. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $962.04 million. During the same quarter last year, the business posted $0.58 earnings per share. The company's quarterly revenue was up 37.4% on a year-over-year basis. Equities analysts expect that TTM Technologies, Inc. will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TTM Technologies news, CEO Edwin Roks purchased 10,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the transaction, the chief executive officer owned 64,814 shares in the company, valued at $7,244,260.78. This represents a 18.24% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dale Knecht sold 26,198 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $142.00, for a total value of $3,720,116.00. Following the sale, the senior vice president owned 40,138 shares of the company's stock, valued at $5,699,596. This trade represents a 39.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.30% of the company's stock.

About TTM Technologies

TTM Technologies, Inc is a manufacturer of technology solutions for the electronics industry. The company primarily produces printed circuit boards, including rigid, flexible, rigid-flex and high-density interconnect boards, as well as specialized radio-frequency and microwave components and assemblies.

TTM's products and services support applications that require complex electronic circuitry and high reliability. Its customers operate in markets such as aerospace and defense, data-center computing, automotive, medical, industrial and instrumentation, and networking and communications.

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