Insider Selling: TTM Technologies, Inc. (NASDAQ:TTMI) Insider Sells 500 Shares of Stock

TTM Technologies, Inc. (NASDAQ:TTMI) insider Steven Spoto sold 500 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $24.32, for a total value of $12,160.00. Following the completion of the transaction, the insider now owns 3,484 shares in the company, valued at approximately $84,730.88. This represents a 12.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

TTM Technologies Stock Down 1.1 %

Shares of TTM Technologies stock traded down $0.25 on Thursday, hitting $21.76. The company had a trading volume of 29,279 shares, compared to its average volume of 721,209. TTM Technologies, Inc. has a twelve month low of $13.43 and a twelve month high of $30.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The stock has a 50-day moving average of $24.82 and a 200-day moving average of $22.69. The firm has a market capitalization of $2.22 billion, a P/E ratio of 40.22 and a beta of 1.19.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. Research analysts predict that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of TTM Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Stifel Nicolaus began coverage on TTM Technologies in a research note on Tuesday, February 11th. They issued a “buy” rating and a $33.00 price target for the company.

Institutional Trading of TTM Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TTMI. Franklin Resources Inc. increased its stake in TTM Technologies by 532.1% in the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company’s stock valued at $48,454,000 after buying an additional 1,648,017 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of TTM Technologies in the 3rd quarter valued at about $18,600,000. Point72 Hong Kong Ltd acquired a new stake in shares of TTM Technologies in the third quarter valued at about $15,314,000. Victory Capital Management Inc. raised its holdings in TTM Technologies by 391.6% during the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock worth $24,268,000 after acquiring an additional 781,058 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in TTM Technologies during the fourth quarter valued at approximately $19,040,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

About TTM Technologies

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.