Philip Titterton Sells 23,486 Shares of TTM Technologies, Inc. (NASDAQ:TTMI) Stock

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) COO Philip Titterton sold 23,486 shares of TTM Technologies stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $36.39, for a total value of $854,655.54. Following the completion of the transaction, the chief operating officer now owns 123,338 shares of the company's stock, valued at approximately $4,488,269.82. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI traded up $0.92 during trading on Tuesday, reaching $37.87. The company had a trading volume of 1,419,237 shares, compared to its average volume of 836,678. The company has a fifty day moving average of $28.21 and a two-hundred day moving average of $25.31. The company has a current ratio of 2.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3.85 billion, a P/E ratio of 50.49 and a beta of 1.37. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $38.20.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $648.67 million for the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. The company's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. Equities research analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its board has approved a stock buyback program on Friday, May 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Needham & Company LLC lifted their target price on TTM Technologies from $35.00 to $43.00 and gave the company a "buy" rating in a report on Friday. B. Riley upped their price target on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Truist Financial lifted their price objective on TTM Technologies from $36.00 to $41.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $40.00 target price (up from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its stake in TTM Technologies by 532.1% in the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after purchasing an additional 1,648,017 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of TTM Technologies by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after buying an additional 115,766 shares during the period. Nuveen LLC bought a new stake in TTM Technologies during the 1st quarter valued at $31,763,000. Massachusetts Financial Services Co. MA raised its holdings in TTM Technologies by 50.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after buying an additional 515,015 shares during the last quarter. Finally, Emerald Advisers LLC boosted its position in TTM Technologies by 34.3% during the 1st quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock valued at $29,533,000 after buying an additional 367,798 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

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.

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