TTM Technologies, Inc. (NASDAQ:TTMI) Insider Tom Clapprood Sells 10,000 Shares

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) insider Tom Clapprood sold 10,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the sale, the insider now directly owns 34,037 shares of the company's stock, valued at approximately $1,004,091.50. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

TTM Technologies Stock Up 8.5%

TTM Technologies stock traded up $2.55 during mid-day trading on Tuesday, reaching $32.39. 2,488,447 shares of the company's stock were exchanged, compared to its average volume of 782,437. The company has a market cap of $3.29 billion, a P/E ratio of 59.98 and a beta of 1.20. TTM Technologies, Inc. has a twelve month low of $15.77 and a twelve month high of $33.20. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $23.39 and a 200-day moving average of $24.13.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The company had revenue of $648.67 million for the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. Sell-side analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies announced that its board has initiated a share buyback program on Friday, May 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 3.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TTMI. Franklin Resources Inc. raised its holdings in shares of TTM Technologies by 532.1% in the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock valued at $48,454,000 after purchasing an additional 1,648,017 shares in the last quarter. Nuveen LLC acquired a new stake in shares of TTM Technologies in the 1st quarter valued at $31,763,000. Victory Capital Management Inc. raised its holdings in shares of TTM Technologies by 391.6% in the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock valued at $24,268,000 after purchasing an additional 781,058 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of TTM Technologies in the 4th quarter valued at $19,040,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of TTM Technologies by 50.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after purchasing an additional 515,015 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TTMI has been the topic of several recent analyst reports. Needham & Company LLC upped their price objective on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Truist Financial decreased their price objective on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. B. Riley upped their price objective 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. Finally, Stifel Nicolaus initiated coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 price objective on the stock.

TTM Technologies Company Profile

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.