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

TTM Technologies, Inc. (NASDAQ:TTMI) shares traded down 4.8% during mid-day trading on Thursday . The stock traded as low as $109.53 and last traded at $110.0120. Approximately 327,658 shares were traded during 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

TTMI has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Stifel Nicolaus increased their price objective on shares of TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Needham & Company LLC restated a “buy” rating and issued a $220.00 target price on shares of TTM Technologies in a report on Tuesday, August 18th. Finally, B. Riley Financial lifted their target price on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, TTM Technologies currently has a consensus rating of “Buy” and an average target price of $214.25.

TTM Technologies Stock Up 8.8%

The company’s 50-day simple moving average is $133.42 and its two-hundred day simple moving average is $137.44. The firm has a market capitalization of $13.23 billion, a P/E ratio of 56.58 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The company’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, research analysts expect that TTM Technologies, Inc. will post 4.26 earnings per share for the current year.

Insider Activity at TTM Technologies

In other news, EVP Douglas L. Soder sold 8,902 shares of TTM Technologies stock in a transaction dated 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 transaction, the executive vice president directly owned 208,245 shares of the company’s stock, valued at $43,687,718.55. The trade was a 4.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edwin Roks acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the purchase, the chief executive officer owned 64,814 shares in the company, valued at $7,244,260.78. This trade represents a 18.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 108,241 shares of company stock valued at $20,911,975 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Several institutional investors and hedge funds have recently modified their holdings of TTMI. Allianz Asset Management GmbH raised its holdings in TTM Technologies by 10.4% during the second quarter. Allianz Asset Management GmbH now owns 3,269 shares of the technology company’s stock valued at $611,000 after acquiring an additional 308 shares during the period. HighTower Advisors LLC raised its holdings in shares of TTM Technologies by 12.6% during the 2nd quarter. HighTower Advisors LLC now owns 10,388 shares of the technology company’s stock worth $1,943,000 after acquiring an additional 1,160 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of TTM Technologies during the 2nd quarter valued at approximately $3,666,000. California State Teachers Retirement System grew its holdings in shares of TTM Technologies by 18,244.6% in the second quarter. California State Teachers Retirement System now owns 21,964,564 shares of the technology company’s stock valued at $4,107,813,000 after purchasing an additional 21,844,831 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in TTM Technologies in the second quarter worth $731,000. 95.79% of the stock is currently owned by institutional investors.

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.