TTM Technologies (NASDAQ:TTMI) Stock Sees Heavy Call Option Buying

TTM Technologies, Inc. (NASDAQ:TTMI) saw some unusual options trading activity on Monday. Traders bought 10,816 call options on the company. This is an increase of 144% compared to the average daily volume of 4,440 call options.

Analysts Set New Price Targets

TTMI has been the topic of several recent research reports. Stifel Nicolaus decreased their target price on shares of TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday. Needham & Company LLC reduced their target price on TTM Technologies from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Friday. Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Wall Street Zen raised TTM Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Truist Financial lowered their price objective on TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday. Four 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, TTM Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $173.25.

TTM Technologies Trading Up 9.4%

TTMI stock traded up $7.50 during trading on Monday, hitting $87.61. The company had a trading volume of 3,910,380 shares, compared to its average volume of 2,709,970. The stock has a market cap of $9.23 billion, a PE ratio of 34.93 and a beta of 2.14. TTM Technologies has a one year low of $55.44 and a one year high of $223.83. The business has a 50-day moving average of $117.07 and a 200-day moving average of $142.02. The company has a current ratio of 1.67, a quick ratio of 1.49 and a debt-to-equity ratio of 0.71.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Thursday, October 22nd. The technology company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.21. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The business’s revenue was up 59.9% on a year-over-year basis. Research analysts predict that TTM Technologies will post 4.22 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In other news, CEO Edwin Roks purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were bought at an average price of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the transaction, the chief executive officer directly owned 64,814 shares in the company, valued at $7,244,260.78. This trade represents a 18.24% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dale Knecht sold 26,198 shares of TTM Technologies stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the completion of the transaction, the senior vice president owned 40,138 shares in the company, valued at $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

Several hedge funds have recently added to or reduced their stakes in TTMI. BlackRock Inc. purchased a new stake in shares of TTM Technologies in the 2nd quarter worth about $2,053,347,000. Atalan Capital Partners LP purchased a new position in TTM Technologies during the 2nd quarter valued at about $189,234,000. Wellington Management Group LLP lifted its position in TTM Technologies by 61.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock valued at $424,237,000 after acquiring an additional 867,255 shares during the period. Bank of New York Mellon Corp purchased a new position in TTM Technologies during the 2nd quarter valued at about $114,470,000. Finally, Palestra Capital Management LLC bought a new stake in TTM Technologies during the second quarter worth about $105,214,000. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.