TTM Technologies (NASDAQ:TTMI) Trading Down 3.3% - Time to Sell?

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) shares dropped 3.3% during mid-day trading on Friday . The company traded as low as $21.49 and last traded at $21.71. Approximately 60,575 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 760,214 shares. The stock had previously closed at $22.44.

Analysts Set New Price Targets

TTMI has been the topic of a number of research reports. Truist Financial reissued a "buy" rating and set a $24.00 price objective (up from $22.00) on shares of TTM Technologies in a report on Thursday, August 1st. Needham & Company LLC boosted their price objective on shares of TTM Technologies from $24.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday. B. Riley increased their target price on shares of TTM Technologies from $25.50 to $27.25 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price target on shares of TTM Technologies from $19.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $25.31.

TTM Technologies Stock Down 1.6 %

The company has a market capitalization of $2.25 billion, a P/E ratio of 33.47 and a beta of 1.25. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60. The stock's fifty day moving average is $18.90 and its 200 day moving average is $18.70.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.05. The firm had revenue of $605.10 million for the quarter, compared to analyst estimates of $582.70 million. TTM Technologies had a net margin of 2.90% and a return on equity of 8.71%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 EPS. Research analysts predict that TTM Technologies, Inc. will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In related news, EVP Catherine A. Gridley sold 10,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $17.49, for a total value of $174,900.00. Following the completion of the transaction, the executive vice president now directly owns 120,296 shares in the company, valued at $2,103,977.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Dale Martin Knecht sold 20,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $17.40, for a total value of $348,000.00. Following the sale, the senior vice president now directly owns 81,392 shares of the company's stock, valued at approximately $1,416,220.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Catherine A. Gridley sold 10,000 shares of the firm's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $17.49, for a total value of $174,900.00. Following the transaction, the executive vice president now owns 120,296 shares of the company's stock, valued at $2,103,977.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,000 shares of company stock valued at $1,153,900. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of TTM Technologies

Several institutional investors have recently bought and sold shares of TTMI. Vanguard Group Inc. increased its holdings in shares of TTM Technologies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 13,610,120 shares of the technology company's stock worth $212,998,000 after purchasing an additional 63,073 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of TTM Technologies by 88.8% in the second quarter. American Century Companies Inc. now owns 1,479,403 shares of the technology company's stock worth $28,745,000 after acquiring an additional 695,844 shares during the period. Bank of New York Mellon Corp increased its position in TTM Technologies by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 863,309 shares of the technology company's stock valued at $16,774,000 after acquiring an additional 12,789 shares during the last quarter. Emerald Advisers LLC purchased a new position in TTM Technologies in the third quarter worth about $13,693,000. Finally, First Eagle Investment Management LLC raised its position in shares of TTM Technologies by 14.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 724,641 shares of the technology company's stock valued at $14,080,000 after purchasing an additional 92,300 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

TTM Technologies Company Profile

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.