TTM Technologies (NASDAQ:TTMI) Shares Up 9.6% on Insider Buying Activity

TTM Technologies, Inc. (NASDAQ:TTMI) was up 9.6% during mid-day 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 traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,630,053 shares. The stock had previously closed at $112.30.

Specifically, CEO Edwin Roks purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average cost of $111.77 per share, with a total value of $1,117,700.00. Following the purchase, the chief executive officer directly owned 64,814 shares of the company’s stock, valued at approximately $7,244,260.78. This trade represents a 18.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

TTMI has been the subject of several recent analyst reports. Stifel Nicolaus lifted their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research note 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 note on Thursday, May 28th. Wall Street Zen upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings raised shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Truist Financial upped their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $214.25.

TTM Technologies Price Performance

The stock has a market cap of $12.92 billion, a PE ratio of 55.10 and a beta of 2.15. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average is $147.94 and its 200 day moving average is $136.32.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $962.04 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that TTM Technologies, Inc. will post 4.26 earnings per share for the current fiscal year.

Institutional Trading of TTM Technologies

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of TTM Technologies in the second quarter valued at $2,053,347,000. Rokos Capital Management LLP purchased a new position in shares of TTM Technologies during the first quarter valued at $13,031,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in TTM Technologies by 97.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock valued at $19,270,000 after buying an additional 97,799 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in TTM Technologies in the 4th quarter worth about $668,000. Finally, Renaissance Technologies LLC purchased a new stake in TTM Technologies in the 1st quarter worth about $36,130,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.