TTM Technologies (NASDAQ:TTMI) Stock Price Up 13.2% Following Insider Buying Activity

Shares of TTM Technologies, Inc. (NASDAQ:TTMI) traded up 13.2% during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $74.91 and last traded at $75.2780. 1,258,851 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 2,823,564 shares. The stock had previously closed at $66.51.

Specifically, Director Philip G. Franklin purchased 5,000 shares of the stock in a transaction on Thursday, November 5th. The shares were bought at an average price of $61.92 per share, for a total transaction of $309,600.00. Following the completion of the acquisition, the director directly owned 161,725 shares in the company, valued at approximately $10,014,012. This trade represents a 3.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wajid Ali purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were acquired at an average price of $63.15 per share, for a total transaction of $631,500.00. Following the purchase, the director directly owned 45,835 shares of the company’s stock, valued at approximately $2,894,480.25. This represents a 27.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TTMI. Weiss Ratings cut shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st. Needham & Company LLC decreased their target price on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Stifel Nicolaus cut their target price on shares of TTM Technologies from $205.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, Zacks Research cut TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, TTM Technologies has a consensus rating of “Moderate Buy” and an average target price of $173.25.

TTM Technologies Stock Performance

The company’s 50 day moving average price is $108.96 and its 200-day moving average price is $126.91. The stock has a market cap of $7.97 billion, a P/E ratio of 30.20 and a beta of 2.25. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 1.67.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Thursday, October 22nd. The technology company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.21. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The firm’s quarterly revenue was up 59.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. Equities analysts forecast that TTM Technologies, Inc. will post 4.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of TTM Technologies during the second quarter valued at approximately $2,053,347,000. Wellington Management Group LLP grew 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 worth $424,237,000 after purchasing an additional 867,255 shares during the period. Atalan Capital Partners LP acquired a new stake in shares of TTM Technologies during the 2nd quarter worth approximately $189,234,000. Bank of New York Mellon Corp acquired a new position in shares of TTM Technologies in the second quarter worth about $114,470,000. Finally, Palestra Capital Management LLC acquired a new position in shares of TTM Technologies during the 2nd quarter worth approximately $105,214,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

About TTM Technologies

TTM Technologies, Inc designs and manufactures printed circuit boards (PCBs) and radio-frequency (RF) and microwave components and assemblies. Its products support the development and operation of electronic systems used in communications, data infrastructure, aerospace and defense, automotive, medical, and industrial applications.

The company provides engineering and manufacturing services, including PCB design support, prototyping, and production. TTM serves customers around the world through operations in North America and Asia.

Founded in 1998, TTM Technologies is headquartered in Santa Ana, California.