TTM Technologies (NASDAQ:TTMI) Reaches New 1-Year High - Should You Buy?

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $45.08 and last traded at $44.24, with a volume of 248757 shares. The stock had previously closed at $44.11.

Analyst Upgrades and Downgrades

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

TTM Technologies Stock Up 3.8%

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 firm has a market cap of $4.83 billion, a price-to-earnings ratio of 63.39 and a beta of 1.46. The firm has a 50-day moving average price of $35.53 and a two-hundred day moving average price of $27.32.

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

TTM Technologies announced that its board has authorized a stock repurchase program on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Daniel J. Weber sold 20,170 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total transaction of $595,216.70. Following the transaction, the executive vice president owned 74,983 shares in the company, 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 available through the SEC website. Also, insider Tom Clapprood sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $29.50, for a total value of $295,000.00. Following the transaction, the insider owned 34,037 shares in the company, valued at $1,004,091.50. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,226 shares of company stock valued at $3,504,492 over the last 90 days. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TTMI. Focus Partners Wealth raised its holdings in TTM Technologies by 1.1% during the first quarter. Focus Partners Wealth now owns 31,944 shares of the technology company's stock worth $655,000 after purchasing an additional 343 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in TTM Technologies by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock worth $139,000 after purchasing an additional 442 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in TTM Technologies by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock worth $345,000 after purchasing an additional 555 shares during the last quarter. New York State Teachers Retirement System raised its holdings in TTM Technologies by 0.5% during the first quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock worth $2,268,000 after purchasing an additional 567 shares during the last quarter. Finally, CWM LLC raised its holdings in TTM Technologies by 14.4% during the first quarter. CWM LLC now owns 4,501 shares of the technology company's stock worth $92,000 after purchasing an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

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.