TTM Technologies (NASDAQ:TTMI) Shares Down 4.8% – Here’s What Happened

TTM Technologies, Inc. (NASDAQ:TTMI)’s share price was down 4.8% on Thursday . The stock traded as low as $109.53 and last traded at $110.0120. Approximately 327,658 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,604,125 shares. The stock had previously closed at $115.60.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TTMI. Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday. B. Riley Financial lifted their price objective on TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of TTM Technologies in a research report on Tuesday, August 18th. Finally, Weiss Ratings lowered shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $214.25.

TTM Technologies Price Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The firm has a market capitalization of $12.27 billion, a P/E ratio of 52.48 and a beta of 2.15. The company has a 50-day moving average price of $136.64 and a 200-day moving average price of $137.36.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. On average, sell-side analysts predict that TTM Technologies, Inc. will post 4.26 earnings per share for the current year.

Insider Activity

In other news, SVP Dale Martin Knecht sold 26,198 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the transaction, the senior vice president directly owned 40,138 shares of the company’s stock, valued at $5,699,596. This trade represents a 39.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Douglas L. Soder sold 8,902 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total transaction of $1,867,550.58. Following the completion of the sale, the executive vice president directly owned 208,245 shares in the company, valued at approximately $43,687,718.55. This represents a 4.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 108,241 shares of company stock worth $20,911,975. 1.30% of the stock is currently owned by insiders.

Institutional Trading of TTM Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its holdings in TTM Technologies by 18,244.6% during the second quarter. California State Teachers Retirement System now owns 21,964,564 shares of the technology company’s stock worth $4,107,813,000 after buying an additional 21,844,831 shares during the last quarter. BlackRock Inc. acquired a new stake in TTM Technologies in the second quarter valued at $2,053,347,000. Polar Capital Holdings Plc bought a new position in shares of TTM Technologies in the 3rd quarter valued at about $176,376,000. Invesco Ltd. increased its stake in shares of TTM Technologies by 127.7% during the 3rd quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company’s stock worth $277,281,000 after purchasing an additional 2,699,494 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its stake in shares of TTM Technologies by 112.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company’s stock worth $295,066,000 after purchasing an additional 2,260,035 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

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.