TTM Technologies (NASDAQ:TTMI) Director Purchases $309,600.00 in Stock

Key Points

• Director Philip Franklin bought 5,000 TTM Technologies shares for $309,600, increasing his stake by 3.19% to 161,725 shares.
• TTM reported quarterly EPS of $1.46, beating the $1.25 consensus, while revenue of $1.20 billion exceeded estimates and rose 59.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with a $173.25 average price target; several firms recently lowered their targets, though they retained Buy ratings.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) Director Philip Franklin acquired 5,000 shares of the company's stock in a transaction on Thursday, November 5th. The shares were purchased at an average cost of $61.92 per share, for a total transaction of $309,600.00. Following the acquisition, the director owned 161,725 shares of the company's stock, valued at approximately $10,014,012. The trade was a 3.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

TTM Technologies Stock Performance

Shares of TTMI traded up $8.09 during midday trading on Monday, reaching $74.60. 836,723 shares of the stock were exchanged, compared to its average volume of 2,821,075. The business's 50-day moving average price is $108.96 and its 200 day moving average price is $126.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.67 and a quick ratio of 1.49. TTM Technologies, Inc. has a twelve month low of $55.44 and a twelve month high of $223.83. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 29.79 and a beta of 2.25.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Thursday, October 22nd. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.21. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.13 billion. TTM Technologies had a return on equity of 19.19% and a net margin of 7.01%. The business's revenue was up 59.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. On average, sell-side analysts expect that TTM Technologies, Inc. will post 4.36 EPS for the current fiscal year.

Institutional Investors Weigh In On TTM Technologies

Institutional investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC purchased a new stake in shares of TTM Technologies in the second quarter valued at $29,000. GoalVest Advisory LLC lifted its position in TTM Technologies by 456.7% during the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock worth $31,000 after buying an additional 137 shares during the period. Manning & Napier Advisors LLC purchased a new position in TTM Technologies during the second quarter worth about $47,000. Root Financial Partners LLC purchased a new position in TTM Technologies during the third quarter worth about $31,000. Finally, Persistent Asset Partners Ltd acquired a new stake in TTM Technologies in the 2nd quarter worth about $49,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TTMI. Needham & Company LLC reduced their price objective on TTM Technologies from $175.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Weiss Ratings downgraded TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Stifel Nicolaus dropped their target price on TTM Technologies from $205.00 to $165.00 and set a "buy" rating on the stock in a report on Friday, October 23rd. Truist Financial cut their price target on TTM Technologies from $231.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Finally, Zacks Research downgraded TTM Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.25.

TTM Technologies Company Profile

TTM Technologies, Inc designs and manufactures printed circuit boards (PCBs) and radio-frequency (RF) and microwave components and assemblies. Its products support the development and operation of electronic systems used in communications, data infrastructure, aerospace and defense, automotive, medical, and industrial applications.

The company provides engineering and manufacturing services, including PCB design support, prototyping, and production. TTM serves customers around the world through operations in North America and Asia.

Founded in 1998, TTM Technologies is headquartered in Santa Ana, California.

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