TTM Technologies (NASDAQ:TTMI) Shares Gap Up – Here’s What Happened

TTM Technologies, Inc. (NASDAQ:TTMI) shares gapped up before the market opened on Friday . The stock had previously closed at $122.34, but opened at $127.24. TTM Technologies shares last traded at $124.32, with a volume of 188,845 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TTMI shares. Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Truist Financial lifted their price objective on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Finally, Stifel Nicolaus raised their price target on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $214.25.

TTM Technologies Price Performance

The business’s 50-day simple moving average is $129.26 and its two-hundred day simple moving average is $138.53. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 57.11 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results 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 the consensus estimate of $962.04 million. During the same period in the prior year, the business earned $0.58 earnings per share. The company’s revenue for the quarter was up 37.4% compared to the same quarter last year. Research analysts expect that TTM Technologies, Inc. will post 4.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Catherine A. Gridley sold 8,966 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total value of $1,881,066.80. Following the completion of the transaction, the executive vice president owned 69,679 shares in the company, valued at $14,618,654.20. This trade represents a 11.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dale Knecht sold 26,198 shares of TTM Technologies stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the sale, the senior vice president owned 40,138 shares in the company, valued at approximately $5,699,596. This represents a 39.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 108,241 shares of company stock worth $20,911,975. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of TTM Technologies by 1.8% in the second quarter. GAMMA Investing LLC now owns 4,340 shares of the technology company’s stock worth $812,000 after acquiring an additional 75 shares during the period. Parallel Advisors LLC lifted its holdings in TTM Technologies by 36.2% during the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after purchasing an additional 87 shares in the last quarter. Lido Advisors LLC boosted its stake in TTM Technologies by 1.5% in the 4th quarter. Lido Advisors LLC now owns 8,013 shares of the technology company’s stock worth $553,000 after purchasing an additional 116 shares during the period. GoalVest Advisory LLC grew its holdings in TTM Technologies by 456.7% during the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in TTM Technologies by 4.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,289 shares of the technology company’s stock valued at $320,000 after buying an additional 142 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

TTM Technologies Company Profile

TTM Technologies, Inc (NASDAQ: TTMI) is a global manufacturer of technology solutions for electronic devices and systems. The company primarily produces printed circuit boards (PCBs), including high-density interconnect, flexible and rigid-flex boards, radio-frequency and microwave circuits, and other advanced PCB technologies.

TTM also provides engineering, prototype development, testing and assembly services that support the design and production of electronic products. Its solutions are used in aerospace and defense, data center computing, automotive, medical, industrial, instrumentation and other communications-related applications.

The company serves customers through manufacturing and engineering operations in North America and Asia.