TTM Technologies (NASDAQ:TTMI) Trading Down 7.9% – Here’s What Happened

TTM Technologies, Inc. (NASDAQ:TTMI) shares were down 7.9% during mid-day trading on Monday . The stock traded as low as $123.43 and last traded at $121.08. 248,504 shares were traded during trading, a decline of 90% from the average daily volume of 2,511,873 shares. The stock had previously closed at $131.41.

Wall Street Analyst Weigh In

TTMI has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price target on shares of TTM Technologies from $208.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Stifel Nicolaus raised their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. B. Riley Financial lifted their target price 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. Truist Financial increased their price target on TTM Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

TTM Technologies Stock Down 12.1%

The company’s 50-day moving average price is $171.58 and its 200 day moving average price is $132.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 1.88. The stock has a market cap of $11.29 billion, a PE ratio of 58.75 and a beta of 2.10.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. TTM Technologies had a net margin of 6.29% and a return on equity of 13.70%. The company had revenue of $845.98 million for the quarter, compared to the consensus estimate of $789.84 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was up 30.4% compared to the same quarter last year. As a group, analysts forecast that TTM Technologies, Inc. will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In other news, EVP Daniel J. Weber sold 8,533 shares of TTM Technologies stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $1,790,223.40. Following the transaction, the executive vice president owned 86,088 shares in the company, valued at $18,061,262.40. This trade represents a 9.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Douglas L. Soder sold 8,902 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total value of $1,867,550.58. Following the completion of the sale, the executive vice president owned 208,245 shares of the company’s stock, valued at $43,687,718.55. This trade represents a 4.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 82,043 shares of company stock worth $17,191,859. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TTMI. Harbor Investment Advisory LLC purchased a new stake in TTM Technologies in the 2nd quarter worth approximately $29,000. GoalVest Advisory LLC boosted its position in shares of TTM Technologies by 456.7% in the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock worth $31,000 after purchasing an additional 137 shares during the period. Parallel Advisors LLC boosted its position in shares of TTM Technologies by 36.2% in the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after purchasing an additional 87 shares during the period. Carolina Wealth Advisors LLC increased its stake in shares of TTM Technologies by 78.7% in the second quarter. Carolina Wealth Advisors LLC now owns 377 shares of the technology company’s stock worth $71,000 after purchasing an additional 166 shares in the last quarter. Finally, Signature Equity Partners LLC bought a new stake in shares of TTM Technologies during the 1st quarter valued at $40,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

TTM Technologies Company Profile

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.