TTM Technologies (NASDAQ:TTMI) Stock Price Down 4.8% - Should You Sell?

Key Points

• TTM Technologies shares fell 4.8% to approximately $110.01, with trading volume down 87% from its average; the stock remains below its 50-day and 200-day moving averages.
• Analysts maintain an overall “Buy” rating, with a consensus price target of $214.25, despite mixed recent rating changes.
• The company exceeded quarterly expectations, reporting $0.99 in earnings per share and $1 billion in revenue, up 37.4% year over year. However, insiders sold more than $20.9 million of stock over the past 90 days.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report)'s stock price was down 4.8% during mid-day trading on Thursday . The company traded as low as $109.53 and last traded at $110.0120. Approximately 327,658 shares changed hands during trading, a decline of 87% from the average daily volume of 2,604,125 shares. The stock had previously closed at $115.60.

Analyst Ratings Changes

TTMI has been the topic of several research reports. Zacks Research upgraded shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Weiss Ratings lowered shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 25th. Wall Street Zen downgraded shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Stifel Nicolaus lifted their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Finally, B. Riley Financial upped their price target on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $214.25.

TTM Technologies Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 52.48 and a beta of 2.15. The stock's fifty day moving average is $136.64 and its two-hundred day moving average is $137.36.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.10. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The company's revenue was up 37.4% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. Analysts forecast that TTM Technologies, Inc. will post 4.26 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Douglas L. Soder sold 8,902 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total transaction of $1,867,550.58. Following the completion of the transaction, the executive vice president directly owned 208,245 shares in the company, valued at approximately $43,687,718.55. This represents a 4.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Shawn A. Powers sold 9,856 shares of TTM Technologies stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $2,067,788.80. Following the completion of the sale, the executive vice president owned 119,268 shares of the company's stock, valued at approximately $25,022,426.40. This trade represents a 7.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 108,241 shares of company stock worth $20,911,975 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTMI. Royal Bank of Canada increased its holdings in shares of TTM Technologies by 66.6% in the 1st quarter. Royal Bank of Canada now owns 26,433 shares of the technology company's stock worth $543,000 after acquiring an additional 10,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in TTM Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company's stock valued at $1,232,000 after buying an additional 2,632 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in TTM Technologies by 7.3% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of TTM Technologies by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company's stock valued at $3,908,000 after purchasing an additional 13,691 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in TTM Technologies by 1,150.2% in the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock worth $2,869,000 after purchasing an additional 128,700 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

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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