TTM Technologies, Inc. (NASDAQ:TTMI) Insider Tom Clapprood Sells 15,000 Shares

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 that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.68, for a total value of $670,200.00. Following the completion of the transaction, the insider owned 23,531 shares of the company's stock, valued at approximately $1,051,365.08. This represents a 38.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 Stock Performance

TTMI stock traded up $0.24 during midday trading on Thursday, reaching $43.45. 798,692 shares of the company were exchanged, compared to its average volume of 1,234,324. TTM Technologies, Inc. has a one year low of $15.77 and a one year high of $51.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 1.72. The business has a 50-day moving average price of $40.57 and a two-hundred day moving average price of $29.46. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 48.25 and a beta of 1.48.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate 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 net margin of 3.52% and a return on equity of 11.80%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities research analysts forecast that TTM Technologies, Inc. will post 1.76 EPS for the current year.

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

Institutional Investors Weigh In On TTM Technologies

Large investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth grew its holdings in shares of TTM Technologies by 1.1% in the 1st quarter. Focus Partners Wealth now owns 31,944 shares of the technology company's stock valued at $655,000 after buying an additional 343 shares during the period. Yousif Capital Management LLC grew its position in shares of TTM Technologies by 1.0% during the 2nd quarter. Yousif Capital Management LLC now owns 38,027 shares of the technology company's stock worth $1,552,000 after buying an additional 374 shares during the period. Quadrant Capital Group LLC raised its stake in shares of TTM Technologies by 8.5% during the 4th quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock worth $139,000 after purchasing an additional 442 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of TTM Technologies by 2.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,200 shares of the technology company's stock valued at $865,000 after acquiring an additional 500 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of TTM Technologies by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock worth $345,000 after purchasing an additional 555 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on TTMI shares. Truist Financial lifted their price target on shares of TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Wall Street Zen upgraded shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Needham & Company LLC increased their price objective on shares of TTM Technologies from $43.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. B. Riley increased their target price on TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus boosted their price target on TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Four investment 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.com, TTM Technologies currently has an average rating of "Buy" and a consensus price target of $52.25.

About TTM Technologies

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.