Insider Buying: TTM Technologies (NASDAQ:TTMI) Director Acquires 10,000 Shares of Company Stock

Key Points

• TTM Technologies director Wajid Ali bought 10,000 shares for $631,500 at an average price of $63.15, increasing his holdings by 27.91% to 45,835 shares. He also purchased 10,000 shares the prior week at an average of $90.25.
• TTM shares traded at $63.72 and have fallen sharply from their 52-week high of $223.83. The company’s latest quarter beat estimates, with EPS of $1.46 and revenue of $1.20 billion, up 59.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $173.25; four analysts rate the stock Buy and two rate it Hold.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) Director Wajid Ali purchased 10,000 shares of the business's stock in a transaction on Thursday, November 5th. The stock was purchased at an average cost of $63.15 per share, with a total value of $631,500.00. Following the acquisition, the director owned 45,835 shares in the company, valued at approximately $2,894,480.25. This represents a 27.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Wajid Ali also recently made the following trade(s):

• On Wednesday, October 28th, Wajid Ali purchased 10,000 shares of TTM Technologies stock. The stock was acquired at an average cost of $90.25 per share, with a total value of $902,500.00.

TTM Technologies Price Performance

Shares of TTM Technologies stock traded down $9.66 during midday trading on Thursday, hitting $63.72. 7,310,710 shares of the company were exchanged, compared to its average volume of 2,808,127. The firm has a 50 day simple moving average of $111.32 and a 200-day simple moving average of $127.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.67 and a quick ratio of 1.49. The firm has a market cap of $6.71 billion, a P/E ratio of 25.66 and a beta of 2.25. TTM Technologies, Inc. has a 52 week low of $55.44 and a 52 week high of $223.83.

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

Hedge Funds Weigh In On TTM Technologies

A number of large investors have recently modified their holdings of the business. Gen Wealth Partners Inc bought a new stake in shares of TTM Technologies in the third quarter valued at approximately $103,000. AlphaCore Capital LLC bought a new position in TTM Technologies in the 3rd quarter worth approximately $279,000. Retirement Systems of Alabama boosted its holdings in TTM Technologies by 0.8% in the 3rd quarter. Retirement Systems of Alabama now owns 167,435 shares of the technology company's stock worth $20,568,000 after buying an additional 1,251 shares during the period. Fulcrum Asset Management LLP bought a new position in TTM Technologies in the 3rd quarter worth approximately $3,728,000. Finally, Allspring Global Investments Holdings LLC grew its stake in TTM Technologies by 40.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 768,992 shares of the technology company's stock valued at $97,277,000 after buying an additional 221,426 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings cut TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Stifel Nicolaus cut their price target on TTM Technologies from $205.00 to $165.00 and set a "buy" rating on the stock in a report on Friday, October 23rd. Wall Street Zen downgraded TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday. Truist Financial cut 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. Finally, Zacks Research downgraded TTM Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $173.25.

TTM Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.