Traders Buy Shares of TTM Technologies Inc. (TTMI) on Weakness
Traders purchased shares of TTM Technologies Inc. (NASDAQ:TTMI) on weakness during trading on Wednesday. $4.87 million flowed into the stock on the tick-up and $1.96 million flowed out of the stock on the tick-down, for a money net flow of $2.91 million into the stock. Of all equities tracked, TTM Technologies had the 26th highest net in-flow for the day. TTM Technologies traded down ($0.05) for the day and closed at $11.18
A number of brokerages recently weighed in on TTMI. JPMorgan Chase & Co. restated a “buy” rating on shares of TTM Technologies in a research note on Tuesday, August 9th. Zacks Investment Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research note on Saturday, July 30th. Stifel Nicolaus decreased their price objective on TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, Needham & Company LLC upped their price objective on TTM Technologies from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. TTM Technologies presently has an average rating of “Buy” and a consensus target price of $10.70.
The company’s 50 day moving average price is $10.59 and its 200-day moving average price is $8.10. The firm has a market capitalization of $1.12 billion, a P/E ratio of 62.46 and a beta of 1.62.
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TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.10. The company earned $601.80 million during the quarter, compared to analysts’ expectations of $601.48 million. TTM Technologies had a return on equity of 7.86% and a net margin of 0.74%. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. On average, equities analysts predict that TTM Technologies Inc. will post $1.08 EPS for the current year.
In other news, Director Kenton K. Alder sold 36,823 shares of TTM Technologies stock in a transaction on Friday, July 29th. The stock was sold at an average price of $9.94, for a total value of $366,020.62. Following the completion of the sale, the director now directly owns 35,267 shares of the company’s stock, valued at $350,553.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Daniel J. Weber sold 4,565 shares of TTM Technologies stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $11.00, for a total value of $50,215.00. Following the completion of the sale, the senior vice president now directly owns 48,571 shares of the company’s stock, valued at $534,281. The disclosure for this sale can be found here. Company insiders own 28.40% of the company’s stock.
Several large investors have recently modified their holdings of TTMI. Engineers Gate Manager LP purchased a new stake in shares of TTM Technologies during the second quarter worth $128,000. Citadel Advisors LLC purchased a new stake in shares of TTM Technologies during the second quarter worth $131,000. BlackRock Inc. boosted its stake in shares of TTM Technologies by 263.9% in the second quarter. BlackRock Inc. now owns 17,945 shares of the company’s stock worth $136,000 after buying an additional 13,014 shares during the last quarter. Springbok Capital Management LLC boosted its stake in shares of TTM Technologies by 4,900.3% in the first quarter. Springbok Capital Management LLC now owns 19,851 shares of the company’s stock worth $132,000 after buying an additional 19,454 shares during the last quarter. Finally, HRS Investment Holdings LLC purchased a new stake in shares of TTM Technologies during the second quarter worth $151,000. 71.21% of the stock is owned by institutional investors and hedge funds.
TTM Technologies Company Profile
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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