TTM Technologies Target of Unusually High Options Trading (NASDAQ:TTMI)

TTM Technologies, Inc. (NASDAQ:TTMI) was the recipient of some unusual options trading activity on Monday. Traders acquired 10,346 call options on the stock. This represents an increase of approximately 411% compared to the average daily volume of 2,025 call options.

TTM Technologies Stock Up 4.7%

TTM Technologies stock opened at $107.57 on Wednesday. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 85.37 and a beta of 1.75. The company’s 50 day simple moving average is $79.78 and its 200 day simple moving average is $62.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.94 and a quick ratio of 1.66. TTM Technologies has a fifty-two week low of $15.77 and a fifty-two week high of $111.00.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TTMI shares. Wall Street Zen cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 19th. Truist Financial set a $113.00 price target on TTM Technologies in a report on Wednesday, January 14th. Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of TTM Technologies in a report on Wednesday, January 21st. Finally, B. Riley upped their target price on shares of TTM Technologies from $81.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. One equities 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.com, the company has an average rating of “Buy” and a consensus price target of $99.00.

Insider Transactions at TTM Technologies

In other TTM Technologies news, insider Anthony Joseph Sandeen sold 2,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $67.30, for a total value of $134,600.00. Following the completion of the transaction, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas T. Edman sold 16,800 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.12, for a total transaction of $1,614,816.00. Following the sale, the director directly owned 783,406 shares in the company, valued at $75,300,984.72. This trade represents a 2.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 49,194 shares of company stock worth $3,828,510. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

Several institutional investors and hedge funds have recently made changes to their positions in TTMI. Polar Capital Holdings Plc acquired a new stake in TTM Technologies during the 3rd quarter worth $176,376,000. Invesco Ltd. increased its holdings in shares of TTM Technologies by 127.7% in the third quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company’s stock worth $277,281,000 after acquiring an additional 2,699,494 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of TTM Technologies by 575.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,831,425 shares of the technology company’s stock worth $105,490,000 after acquiring an additional 1,560,394 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of TTM Technologies during the 3rd quarter valued at about $57,271,000. Finally, FengHe Fund Management Pte. Ltd. bought a new position in shares of TTM Technologies during the 3rd quarter valued at about $54,148,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.