Key Points
- TTM Technologies director Wajid Ali bought 10,000 shares for $631,500 at an average price of $63.15, increasing his direct holdings by 27.91% to 45,835 shares. He had also purchased 10,000 shares on October 28 at an average price of $90.25.
- TTMI shares opened at $62.22 after a reported 15.2% decline; the stock was well below its 50-day and 200-day moving averages.
- TTM beat quarterly estimates, reporting EPS of $1.46 versus $1.25 expected and revenue of $1.20 billion, up 59.9% year over year. Analysts’ consensus remained “Moderate Buy,” with an average price target of $173.25.
TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) Director Wajid Ali purchased 10,000 shares of the firm's stock in a transaction on Thursday, November 5th. The shares were acquired at an average price of $63.15 per share, for a total transaction of $631,500.00. Following the purchase, the director directly owned 45,835 shares of the company's stock, valued at approximately $2,894,480.25. This represents a 27.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through 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 stock was acquired at an average cost of $90.25 per share, for a total transaction of $902,500.00.
TTM Technologies Trading Down 15.2%
Shares of TTMI stock opened at $62.22 on Friday. TTM Technologies, Inc. has a 52-week low of $55.44 and a 52-week high of $223.83. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 24.79 and a beta of 2.25. 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 fifty day moving average of $110.13 and a 200-day moving average of $127.06.
TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The technology company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.21. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm earned $0.50 EPS. The firm's revenue for the quarter was up 59.9% compared to the same quarter last year. On average, equities research analysts forecast that TTM Technologies, Inc. will post 4.36 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Zacks Research cut shares of TTM Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Wall Street Zen lowered TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday, November 1st. Truist Financial lowered their price objective on TTM Technologies from $231.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, October 23rd. Stifel Nicolaus dropped their target price on TTM Technologies from $205.00 to $165.00 and set a "buy" rating for the company in a report on Friday, October 23rd. Finally, Needham & Company LLC cut their target price on TTM Technologies from $175.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, October 23rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $173.25.
Get Our Latest Research Report on TTMI
Institutional Investors Weigh In On TTM Technologies
Several institutional investors and hedge funds have recently made changes to their positions in TTMI. Harbor Investment Advisory LLC acquired a new stake in shares of TTM Technologies during the 2nd quarter worth about $29,000. GoalVest Advisory LLC lifted 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 purchasing an additional 137 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in TTM Technologies during the 2nd quarter valued at about $47,000. Root Financial Partners LLC bought a new position in TTM Technologies during the 3rd quarter valued at about $31,000. Finally, Persistent Asset Partners Ltd bought a new position in TTM Technologies during the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 95.79% of the company's stock.
About TTM Technologies
(
Get Free Report)
TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.
TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.
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