TTM Technologies (NASDAQ:TTMI) Shares Gap Down to $14.93

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $14.93, but opened at $14.20. TTM Technologies shares last traded at $13.62, with a volume of 163,784 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a "buy" rating and set a $19.00 price objective on shares of TTM Technologies in a research note on Wednesday, January 31st.

TTM Technologies Stock Down 1.1 %

The firm's 50-day moving average price is $14.76 and its 200-day moving average price is $14.56. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -83.66 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.03 and a quick ratio of 1.73.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. TTM Technologies had a negative net margin of 0.84% and a positive return on equity of 7.83%. The company had revenue of $569.04 million during the quarter, compared to analyst estimates of $572.03 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business's quarterly revenue was down 7.8% compared to the same quarter last year. Sell-side analysts forecast that TTM Technologies, Inc. will post 1.28 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In related news, insider Tom Clapprood sold 3,500 shares of the firm's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $16.48, for a total transaction of $57,680.00. Following the completion of the sale, the insider now directly owns 52,264 shares of the company's stock, valued at approximately $861,310.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On TTM Technologies

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in TTM Technologies by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,299,477 shares of the technology company's stock valued at $131,216,000 after acquiring an additional 121,498 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of TTM Technologies by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,941,612 shares of the technology company's stock worth $30,697,000 after buying an additional 96,265 shares during the last quarter. Invesco Ltd. lifted its position in shares of TTM Technologies by 2.7% in the 3rd quarter. Invesco Ltd. now owns 1,478,467 shares of the technology company's stock worth $19,043,000 after buying an additional 39,445 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of TTM Technologies by 58.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,425,000 shares of the technology company's stock worth $18,354,000 after acquiring an additional 525,000 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of TTM Technologies in the 3rd quarter worth about $13,051,000. 95.79% of the stock is owned by institutional investors and hedge funds.

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.