TTM Technologies (NASDAQ:TTMI) Sets New 12-Month High - What's Next?

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $47.98 and last traded at $47.39, with a volume of 1676300 shares. The stock had previously closed at $45.03.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TTMI shares. Truist Financial lifted their price target on TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Wall Street Zen cut shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $40.00 target price (up from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. B. Riley lifted their price target on shares of TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Needham & Company LLC upped their price objective on shares of TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $45.25.

TTM Technologies Stock Down 4.7%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.75 and a current ratio of 2.07. The company has a market capitalization of $4.50 billion, a PE ratio of 59.03 and a beta of 1.46. The company's fifty day moving average is $37.61 and its 200-day moving average is $28.19.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.39 by $0.11. TTM Technologies had a net margin of 3.09% and a return on equity of 10.75%. The firm had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its Board of Directors has approved a stock repurchase plan on Friday, May 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 3.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity at TTM Technologies

In related news, EVP Daniel J. Weber sold 20,170 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the transaction, the executive vice president owned 74,983 shares of the company's stock, valued at $2,212,748.33. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Douglas L. Soder sold 24,972 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the transaction, the executive vice president owned 173,026 shares in the company, valued at $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,226 shares of company stock worth $3,504,492 over the last quarter. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On TTM Technologies

Several institutional investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS boosted its stake in TTM Technologies by 2.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,200 shares of the technology company's stock worth $865,000 after purchasing an additional 500 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of TTM Technologies by 7.2% during the second quarter. State of Alaska Department of Revenue now owns 60,543 shares of the technology company's stock worth $2,470,000 after buying an additional 4,043 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of TTM Technologies during the second quarter valued at $880,000. GAMMA Investing LLC increased its position in shares of TTM Technologies by 30.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,244 shares of the technology company's stock valued at $132,000 after acquiring an additional 760 shares during the period. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of TTM Technologies during the second quarter worth about $380,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.