Insider Buying: TTM Technologies (NASDAQ:TTMI) Director Buys $631,500.00 in Stock

TTM Technologies, Inc. (NASDAQ:TTMI) Director Wajid Ali bought 10,000 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was purchased at an average cost of $63.15 per share, for a total transaction of $631,500.00. Following the completion of the transaction, the director owned 45,835 shares in the company, valued at approximately $2,894,480.25. The trade was a 27.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wajid Ali also recently made the following trade(s):

• On Wednesday, October 28th, Wajid Ali purchased 10,000 shares of TTM Technologies stock. The shares were purchased at an average cost of $90.25 per share, with a total value of $902,500.00.

TTM Technologies Stock Up 6.9%

Shares of TTM Technologies stock opened at $66.51 on Friday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 26.50 and a beta of 2.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.67 and a quick ratio of 1.49. TTM Technologies, Inc. has a 52-week low of $55.44 and a 52-week high of $223.83. The stock has a 50-day simple moving average of $108.96 and a 200-day simple moving average of $126.91.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Truist Financial dropped their price target on shares of TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Needham & Company LLC reduced their price objective on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 1st. Zacks Research downgraded shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Stifel Nicolaus cut their target price on TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, TTM Technologies currently has an average rating of “Moderate Buy” and an average price target of $173.25.

Hedge Funds Weigh In On TTM Technologies

A number of institutional investors have recently modified their holdings of the company. Harbor Investment Advisory LLC acquired a new position in shares of TTM Technologies during the second quarter worth approximately $29,000. GoalVest Advisory LLC grew its stake 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 acquiring an additional 137 shares during the last quarter. Root Financial Partners LLC bought a new position in TTM Technologies during the third quarter worth $31,000. Parallel Advisors LLC increased its position in TTM Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after acquiring an additional 87 shares during the period. Finally, Signature Equity Partners LLC bought a new position in TTM Technologies during the first quarter worth $40,000. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

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.