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 company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. Following the transaction, the insider now owns 34,037 shares in the company, valued at $1,004,091.50. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

TTM Technologies Stock Performance

TTMI stock traded down $0.24 during midday trading on Thursday, hitting $32.13. 978,975 shares of the stock traded hands, compared to its average volume of 788,358. The firm has a market cap of $3.27 billion, a P/E ratio of 59.49 and a beta of 1.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The stock's fifty day simple moving average is $23.83 and its 200-day simple moving average is $24.24. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $33.87.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate 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 revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. On average, analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies announced that its board has approved a stock buyback plan on Friday, May 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 3.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. B. Riley upped their target price on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Truist Financial decreased their target price on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC raised their price target 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. Finally, Stifel Nicolaus started coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 price target for the company.

Institutional Trading of TTM Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC grew its position in TTM Technologies by 214.1% during the first quarter. Inspire Investing LLC now owns 50,880 shares of the technology company's stock valued at $1,044,000 after buying an additional 34,680 shares during the period. Strs Ohio purchased a new position in TTM Technologies during the first quarter valued at $800,000. Intech Investment Management LLC lifted its holdings in TTM Technologies by 5.4% during the first quarter. Intech Investment Management LLC now owns 118,782 shares of the technology company's stock valued at $2,436,000 after purchasing an additional 6,125 shares in the last quarter. Focus Partners Wealth lifted its holdings in TTM Technologies by 1.1% during the first quarter. Focus Partners Wealth now owns 31,944 shares of the technology company's stock valued at $655,000 after purchasing an additional 343 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in TTM Technologies by 1,150.2% during the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock valued at $2,869,000 after purchasing an additional 128,700 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company's 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.