TTM Technologies Inc. (NASDAQ:TTMI) dropped 3.5% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $10.94 and last traded at $11.02, with a volume of 990,460 shares traded. The stock had previously closed at $11.42.
Specifically, SVP Daniel J. Weber sold 4,565 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $11.00, for a total value of $50,215.00. Following the transaction, the senior vice president now owns 48,571 shares in the company, valued at $534,281. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenton K. Alder sold 36,823 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $9.94, for a total value of $366,020.62. Following the completion of the transaction, the director now owns 35,267 shares in the company, valued at approximately $350,553.98. The disclosure for this sale can be found here. 28.40% of the stock is owned by company insiders.
TTMI has been the topic of several research reports. Stifel Nicolaus decreased their target price on TTM Technologies from $11.00 to $9.50 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Needham & Company LLC raised their target price on TTM Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. JPMorgan Chase & Co. set a $13.00 target price on TTM Technologies and gave the company a “buy” rating in a research report on Wednesday, September 28th. Finally, Zacks Investment Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a research report on Saturday, July 30th.
The company has a market capitalization of $1.10 billion, a PE ratio of 61.17 and a beta of 1.57. The company’s 50 day moving average is $11.11 and its 200-day moving average is $8.63.
TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.10. TTM Technologies had a return on equity of 7.86% and a net margin of 0.74%. The firm earned $601.80 million during the quarter, compared to the consensus estimate of $601.48 million. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, analysts predict that TTM Technologies Inc. will post $1.08 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in TTMI. MSI Financial Services Inc bought a new stake in shares of TTM Technologies during the third quarter valued at about $103,000. Capstone Asset Management Co. increased its stake in shares of TTM Technologies by 0.9% in the third quarter. Capstone Asset Management Co. now owns 45,402 shares of the company’s stock valued at $520,000 after buying an additional 400 shares in the last quarter. Algert Global LLC increased its stake in shares of TTM Technologies by 173.2% in the third quarter. Algert Global LLC now owns 140,511 shares of the company’s stock valued at $1,609,000 after buying an additional 89,085 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in shares of TTM Technologies during the third quarter valued at $193,000. Finally, Nomura Holdings Inc. increased its stake in shares of TTM Technologies by 293.4% in the second quarter. Nomura Holdings Inc. now owns 422,854 shares of the company’s stock valued at $3,194,000 after buying an additional 315,354 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). The Company operates approximately 30 specialized facilities in the United States, the People’s Republic of China (China), Canada and Mexico.
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