Investors Purchase Large Volume of TTM Technologies Call Options (NASDAQ:TTMI)

TTM Technologies, Inc. (NASDAQ:TTMI) was the target of some unusual options trading activity on Monday. Stock traders bought 10,346 call options on the stock. This is an increase of 411% compared to the average volume of 2,025 call options.

TTM Technologies Stock Up 6.3%

NASDAQ TTMI traded up $6.16 on Monday, reaching $104.36. The company had a trading volume of 1,156,432 shares, compared to its average volume of 3,498,878. The company’s fifty day moving average is $78.24 and its 200-day moving average is $61.90. The firm has a market capitalization of $10.78 billion, a price-to-earnings ratio of 82.76 and a beta of 1.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.66 and a current ratio of 1.94. TTM Technologies has a 1-year low of $15.77 and a 1-year high of $106.68.

Insiders Place Their Bets

In other news, Director John G. Mayer sold 9,167 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $68.13, for a total transaction of $624,547.71. Following the transaction, the director owned 165,140 shares of the company’s stock, valued at $11,250,988.20. This represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anthony Joseph Sandeen sold 2,000 shares of TTM Technologies stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $67.30, for a total value of $134,600.00. Following the completion of the sale, the insider owned 41,442 shares of the company’s stock, valued at approximately $2,789,046.60. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,394 shares of company stock valued at $2,280,644 over the last quarter. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

A number of large investors have recently bought and sold shares of TTMI. Larson Financial Group LLC increased its holdings in shares of TTM Technologies by 4.4% in the third quarter. Larson Financial Group LLC now owns 3,978 shares of the technology company’s stock valued at $229,000 after purchasing an additional 167 shares during the last quarter. Optiver Holding B.V. boosted its holdings in shares of TTM Technologies by 66.4% during the 3rd quarter. Optiver Holding B.V. now owns 426 shares of the technology company’s stock worth $25,000 after buying an additional 170 shares during the period. Choreo LLC grew its stake in TTM Technologies by 1.4% in the 3rd quarter. Choreo LLC now owns 14,196 shares of the technology company’s stock valued at $818,000 after buying an additional 191 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in TTM Technologies by 3.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 6,665 shares of the technology company’s stock valued at $460,000 after acquiring an additional 214 shares during the period. Finally, GAMMA Investing LLC raised its holdings in TTM Technologies by 8.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,512 shares of the technology company’s stock valued at $202,000 after acquiring an additional 268 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Needham & Company LLC upped their target price on shares of TTM Technologies from $79.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Truist Financial set a $113.00 price target on shares of TTM Technologies in a report on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of TTM Technologies in a research report on Wednesday, January 21st. Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, B. Riley lifted their target price on TTM Technologies from $81.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $99.00.

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.