Insider Selling: TTM Technologies, Inc. (NASDAQ:TTMI) COO Sells 23,486 Shares of Stock

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

TTM Technologies Stock Up 1.0%

Shares of NASDAQ TTMI opened at $40.25 on Friday. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $40.58. The firm has a fifty day moving average of $29.86 and a 200-day moving average of $25.70. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $4.09 billion, a PE ratio of 53.67 and a beta of 1.37.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. The firm had revenue of $648.67 million during the quarter, compared to analysts' expectations of $621.44 million. During the same quarter in the prior year, the business earned $0.28 EPS. TTM Technologies's quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current year.

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

Institutional Investors Weigh In On TTM Technologies

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

Wall Street Analysts Forecast Growth

TTMI has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of TTM Technologies from $36.00 to $41.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Needham & Company LLC lifted their target price on shares of TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Stifel Nicolaus reissued a "buy" rating and set a $40.00 price target (up previously from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th. Finally, B. Riley raised their price objective on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 1st.

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.