TTM Technologies Inc. (TTMI) Trading Down 3.5% After Insider Selling
Shares of TTM Technologies Inc. (NASDAQ:TTMI) dropped 3.5% on Thursday after an insider sold shares in the company. The company traded as low as $10.94 and last traded at $11.02, with a volume of 990,460 shares traded. The stock had previously closed at $11.42.
Specifically, Director Kenton K. Alder sold 75,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 85,267 shares of the company’s stock, valued at $1,023,204. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony J. Princiotta sold 24,924 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $10.58, for a total value of $263,695.92. Following the transaction, the insider now directly owns 32,485 shares of the company’s stock, valued at approximately $343,691.30. The disclosure for this sale can be found here. 28.40% of the stock is owned by corporate insiders.
Several equities analysts have commented on the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of TTM Technologies in a research report on Tuesday, August 9th. Zacks Investment Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Saturday, July 30th. Stifel Nicolaus lowered their price objective on TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Needham & Company LLC raised their price objective on TTM Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 28th.
The company’s 50-day moving average is $11.11 and its 200 day moving average is $8.63. The firm has a market cap of $1.10 billion, a P/E ratio of 61.17 and a beta of 1.57.
TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.18 by $0.10. TTM Technologies had a return on equity of 7.86% and a net margin of 0.74%. The company had revenue of $601.80 million for the quarter, compared to analyst estimates of $601.48 million. During the same period last year, the company earned $0.17 earnings per share. TTM Technologies’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, analysts expect that TTM Technologies Inc. will post $1.08 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Ngam Advisors L.P. acquired a new stake in shares of TTM Technologies during the first quarter valued at approximately $212,000. Teachers Advisors Inc. raised its stake in shares of TTM Technologies by 10.0% in the first quarter. Teachers Advisors Inc. now owns 1,041,547 shares of the company’s stock valued at $6,926,000 after buying an additional 94,258 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of TTM Technologies by 3.0% in the first quarter. Prudential Financial Inc. now owns 152,258 shares of the company’s stock valued at $1,013,000 after buying an additional 4,500 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of TTM Technologies by 10.0% in the first quarter. Franklin Resources Inc. now owns 3,067,610 shares of the company’s stock valued at $20,400,000 after buying an additional 278,070 shares during the last quarter. Finally, Menta Capital LLC raised its stake in shares of TTM Technologies by 54.1% in the first quarter. Menta Capital LLC now owns 47,720 shares of the company’s stock valued at $317,000 after buying an additional 16,760 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.
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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