TTM Technologies, Inc. (NASDAQ:TTMI) Insider Sells $670,200.00 in Stock

Key Points

• Insider Tom Clapprood sold 15,000 shares of TTM Technologies at an average price of $44.68, totaling $670,200, which decreased their ownership by 38.93%.
• Following the insider selling, TTM Technologies' stock is currently down 2.3%, trading at $43.81 with a market capitalization of $4.45 billion.
• TTM Technologies recently reported strong earnings, with $730.62 million in revenue and $0.58 EPS, exceeding analysts' expectations and reflecting a 20.7% year-over-year revenue growth.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) insider Tom Clapprood sold 15,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $44.68, for a total value of $670,200.00. Following the sale, the insider owned 23,531 shares of the company's stock, valued at $1,051,365.08. The trade was a 38.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tom Clapprood also recently made the following trade(s):

• On Friday, May 30th, Tom Clapprood sold 10,000 shares of TTM Technologies stock. The shares were sold at an average price of $29.50, for a total value of $295,000.00.

TTM Technologies Price Performance

TTM Technologies stock traded up $1.92 on Friday, reaching $45.28. The company's stock had a trading volume of 1,805,039 shares, compared to its average volume of 2,891,979. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.72 and a current ratio of 2.03. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 50.31 and a beta of 1.48. The business's fifty day moving average price is $41.15 and its 200 day moving average price is $29.74. TTM Technologies, Inc. has a twelve month low of $15.77 and a twelve month high of $51.15.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. The company had revenue of $730.62 million during the quarter, compared to the consensus estimate of $668.42 million. TTM Technologies had a return on equity of 11.80% and a net margin of 3.52%. The firm's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share. Equities analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On TTM Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTMI. Nuveen LLC bought a new stake in TTM Technologies in the first quarter valued at about $31,763,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of TTM Technologies in the fourth quarter worth about $19,040,000. Cubist Systematic Strategies LLC increased its holdings in shares of TTM Technologies by 1,070.1% in the first quarter. Cubist Systematic Strategies LLC now owns 470,679 shares of the technology company's stock worth $9,654,000 after acquiring an additional 430,453 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of TTM Technologies in the second quarter worth about $16,914,000. Finally, Emerald Advisers LLC increased its holdings in shares of TTM Technologies by 34.3% in the first quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock worth $29,533,000 after acquiring an additional 367,798 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

Wall Street Analyst Weigh In

TTMI has been the topic of a number of recent analyst reports. Truist Financial raised their price objective on TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Stifel Nicolaus raised their price objective on TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen raised TTM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. B. Riley raised their price objective on TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Needham & Company LLC raised their price objective on TTM Technologies from $43.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, TTM Technologies currently has a consensus rating of "Buy" and a consensus target price of $52.25.

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.