TTM Technologies (NASDAQ:TTMI) CEO Acquires 10,000 Shares of Stock

Key Points

• CEO Edwin Roks purchased 10,000 TTM Technologies shares at an average price of $111.77, investing approximately $1.12 million and increasing his ownership by 18.24% to 64,814 shares.
• TTMI shares rose 4.8% to $112.30, while the company reported quarterly earnings of $0.99 per share and $1 billion in revenue, exceeding estimates and marking 37.4% year-over-year growth.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and a $214.25 price target; institutional investors own approximately 95.79% of the stock.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) CEO Edwin Roks bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the acquisition, the chief executive officer owned 64,814 shares in the company, valued at $7,244,260.78. This represents a 18.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

TTM Technologies Stock Up 4.8%

TTMI stock traded up $5.18 during midday trading on Tuesday, reaching $112.30. 2,126,920 shares of the company's stock traded hands, compared to its average volume of 3,477,900. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 50.59 and a beta of 2.14. The firm's fifty day moving average price is $147.94 and its 200-day moving average price is $136.32. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. TTM Technologies, Inc. has a 52 week low of $42.69 and a 52 week high of $223.83.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. The business's revenue was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, sell-side analysts forecast that TTM Technologies, Inc. will post 4.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TTM Technologies

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of TTM Technologies by 18,244.6% in the second quarter. California State Teachers Retirement System now owns 21,964,564 shares of the technology company's stock valued at $4,107,813,000 after buying an additional 21,844,831 shares during the period. BlackRock Inc. bought a new position in shares of TTM Technologies during the 2nd quarter worth $2,053,347,000. Invesco Ltd. increased its holdings in TTM Technologies by 3.5% in the 4th quarter. Invesco Ltd. now owns 4,980,091 shares of the technology company's stock worth $343,626,000 after acquiring an additional 166,188 shares during the last quarter. Whale Rock Capital Management LLC increased its holdings in TTM Technologies by 112.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company's stock worth $295,066,000 after acquiring an additional 2,260,035 shares during the last quarter. Finally, Polar Capital Holdings Plc bought a new stake in TTM Technologies in the 3rd quarter valued at about $176,376,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on TTMI shares. Needham & Company LLC restated a "buy" rating and set a $220.00 price target on shares of TTM Technologies in a report on Tuesday, August 18th. Zacks Research raised shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Truist Financial upped their target price on TTM Technologies from $215.00 to $224.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Stifel Nicolaus increased their price target on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat, TTM Technologies has a consensus rating of "Buy" and a consensus price target of $214.25.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company's product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.

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