TTM Technologies (NASDAQ:TTMI) Trading 9.6% Higher Following Insider Buying Activity

Key Points

• TTM Technologies shares jumped 9.6% to about $123.12 after CEO Edwin Roks purchased 10,000 shares for approximately $1.12 million, increasing his holdings by 18.24%.
• Analysts remain bullish, with the stock receiving a consensus “Buy” rating and an average price target of $214.25.
• TTM reported strong quarterly results, with EPS of $0.99 beating estimates by $0.10 and revenue rising 37.4% year over year to roughly $1 billion; institutional investors own 95.79% of the shares.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) rose 9.6% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $124.91 and last traded at $123.1240. Approximately 633,599 shares changed hands during trading, a decline of 76% from the average session volume of 2,630,053 shares. The stock had previously closed at $112.30.

Specifically, CEO Edwin Roks acquired 10,000 shares of TTM Technologies stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the transaction, the chief executive officer owned 64,814 shares of the company's stock, valued at $7,244,260.78. This represents a 18.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial lifted their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Stifel Nicolaus boosted their target price on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, May 28th. B. Riley Financial upped their target price on TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Wall Street Zen raised TTM Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price objective on shares of TTM Technologies in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, TTM Technologies presently has a consensus rating of "Buy" and an average price target of $214.25.

TTM Technologies Price Performance

The stock has a fifty day simple moving average of $147.94 and a two-hundred day simple moving average of $136.32. The company has a market cap of $12.92 billion, a PE ratio of 55.10 and a beta of 2.15. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.89 by $0.10. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business's revenue was up 37.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. On average, equities analysts predict that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On TTM Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TTMI. Royal Bank of Canada grew its holdings in TTM Technologies by 66.6% in the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company's stock valued at $543,000 after purchasing an additional 10,565 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TTM Technologies by 4.6% in 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 purchasing an additional 2,632 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of TTM Technologies by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after purchasing an additional 115,766 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 worth $3,908,000 after buying an additional 13,691 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of TTM Technologies by 1,150.2% in the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock worth $2,869,000 after acquiring an additional 128,700 shares during the last quarter. 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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