TTM Technologies (NASDAQ:TTMI) Shares Down 3.3% – Should You Sell?

by · The Cerbat Gem

TTM Technologies, Inc. (NASDAQ:TTMI – Get Free Report) dropped 3.3% during mid-day trading on Friday . The stock traded as low as $21.49 and last traded at $21.71. Approximately 60,575 shares traded hands during trading, a decline of 92% from the average daily volume of 760,214 shares. The stock had previously closed at $22.44.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus raised their target price on shares of TTM Technologies from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $24.00 target price (up from $22.00) on shares of TTM Technologies in a report on Thursday, August 1st. B. Riley lifted their price target on TTM Technologies from $25.50 to $27.25 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC upped their price objective on shares of TTM Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, TTM Technologies currently has an average rating of “Buy” and an average price target of $25.31.

Check Out Our Latest Stock Analysis on TTMI

TTM Technologies Trading Down 1.5 %

The firm has a market capitalization of $2.25 billion, a PE ratio of 34.00 and a beta of 1.25. The business has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $18.64. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60.

TTM Technologies (NASDAQ:TTMI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. TTM Technologies had a net margin of 2.90% and a return on equity of 8.71%. The business had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $582.70 million. During the same period last year, the business earned $0.28 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts expect that TTM Technologies, Inc. will post 1.31 EPS for the current fiscal year.

Insider Activity at TTM Technologies

In related news, EVP Shawn A. Powers sold 7,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.50, for a total value of $143,500.00. Following the sale, the executive vice president now owns 101,741 shares in the company, valued at approximately $2,085,690.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TTM Technologies news, EVP Catherine A. Gridley sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $17.49, for a total value of $174,900.00. Following the completion of the transaction, the executive vice president now owns 120,296 shares of the company’s stock, valued at $2,103,977.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Shawn A. Powers sold 7,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.50, for a total value of $143,500.00. Following the sale, the executive vice president now directly owns 101,741 shares in the company, valued at $2,085,690.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,000 shares of company stock worth $1,153,900. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of TTM Technologies by 2,130.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,069 shares of the technology company’s stock valued at $392,000 after buying an additional 23,945 shares during the period. UniSuper Management Pty Ltd acquired a new position in TTM Technologies during the 1st quarter worth approximately $382,000. GSA Capital Partners LLP increased its position in shares of TTM Technologies by 135.0% in the 1st quarter. GSA Capital Partners LLP now owns 63,681 shares of the technology company’s stock valued at $997,000 after purchasing an additional 36,582 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of TTM Technologies in the 2nd quarter valued at $602,000. Finally, First Eagle Investment Management LLC lifted its position in shares of TTM Technologies by 14.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 724,641 shares of the technology company’s stock worth $14,080,000 after purchasing an additional 92,300 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Company Profile

(Get Free Report)

TTM Technologies, Inc, together with its subsidiaries, manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments, PCB and RF&S Components. It offers range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, IC substrates, passive RF components, advanced ceramic RF components, hi-reliability multi-chip modules, beamforming and switching networks, PCB products, RF components, and backplane/custom assembly solutions, including conventional PCBs.

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