TTM Technologies Inc. (TTMI) Shares Down 3.5% Following Insider Selling
TTM Technologies Inc. (NASDAQ:TTMI) shares were down 3.5% during mid-day 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 changing hands. The stock had previously closed at $11.42.
Specifically, Director Kenton K. Alder sold 36,823 shares of the company’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 sale, the director now owns 35,267 shares of the company’s stock, valued at approximately $350,553.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenton K. Alder sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $12.00, for a total transaction of $900,000.00. Following the completion of the sale, the director now directly owns 85,267 shares of the company’s stock, valued at approximately $1,023,204. The disclosure for this sale can be found here. 28.40% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on TTMI. Zacks Investment Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a research report on Saturday, July 30th. Needham & Company LLC upped their price target on shares of TTM Technologies from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of TTM Technologies in a research report on Tuesday, August 9th. Finally, Stifel Nicolaus lowered their price target on shares of TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Thursday, July 28th.
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The stock has a market capitalization of $1.10 billion, a P/E ratio of 61.4564 and a beta of 1.57. The company’s 50 day moving average price is $11.10 and its 200-day moving average price is $8.61.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.10. TTM Technologies had a net margin of 0.74% and a return on equity of 7.86%. The firm earned $601.80 million during the quarter, compared to analysts’ expectations of $601.48 million. During the same period last year, the business earned $0.17 earnings per share. TTM Technologies’s revenue was up 35.1% compared to the same quarter last year. Equities analysts forecast that TTM Technologies Inc. will post $1.08 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. MSI Financial Services Inc purchased a new stake in TTM Technologies during the third quarter valued at about $103,000. Capstone Asset Management Co. boosted 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 worth $520,000 after buying an additional 400 shares in the last quarter. Algert Global LLC boosted 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 worth $1,609,000 after buying an additional 89,085 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of TTM Technologies during the third quarter worth $193,000. Finally, Nomura Holdings Inc. boosted 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 worth $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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