Insider Buying: TTM Technologies (NASDAQ:TTMI) Director Purchases $309,600.00 in Stock

TTM Technologies, Inc. (NASDAQ:TTMI) Director Philip Franklin acquired 5,000 shares of TTM Technologies stock in a transaction that occurred on Thursday, November 5th. The stock was acquired at an average price of $61.92 per share, with a total value of $309,600.00. Following the completion of the purchase, the director directly owned 161,725 shares in the company, valued at $10,014,012. This represents a 3.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

TTM Technologies Stock Performance

NASDAQ:TTMI opened at $78.70 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 1.67. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 31.35 and a beta of 2.25. TTM Technologies, Inc. has a 52-week low of $55.44 and a 52-week high of $223.83. The business’s fifty day moving average is $106.43 and its 200 day moving average is $126.58.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Thursday, October 22nd. The technology company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.21. The firm had revenue of $1.20 billion for 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 company’s revenue was up 59.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. Research analysts predict that TTM Technologies, Inc. will post 4.36 EPS for the current year.

Analyst Ratings Changes

TTMI has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their target price on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Zacks Research lowered TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings lowered 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 report on Sunday, November 1st. Finally, Truist Financial reduced their price target on TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.25.

Institutional Investors Weigh In On TTM Technologies

Several hedge funds have recently bought and sold shares of TTMI. GAMMA Investing LLC grew its stake in shares of TTM Technologies by 1.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,340 shares of the technology company’s stock worth $812,000 after buying an additional 75 shares during the last quarter. Parallel Advisors LLC raised its position in TTM Technologies by 36.2% in the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after buying an additional 87 shares during the last quarter. North Dakota State Investment Board lifted its stake in TTM Technologies by 4.0% during the 3rd quarter. North Dakota State Investment Board now owns 3,121 shares of the technology company’s stock valued at $383,000 after acquiring an additional 119 shares during the period. GoalVest Advisory LLC boosted its holdings in 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 purchasing an additional 137 shares during the last quarter. Finally, Elm3 Financial Group LLC grew its holdings in shares of TTM Technologies by 7.1% in the third quarter. Elm3 Financial Group LLC now owns 2,142 shares of the technology company’s stock worth $263,000 after acquiring an additional 142 shares during the period. Institutional investors own 95.79% of the company’s stock.

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.