TTM Technologies (NASDAQ:TTMI) Hits New 52-Week High on Analyst Upgrade

Key Points

• TTM Technologies reached a new 52-week high after Needham & Company upgraded its price target from $56 to $65, maintaining a "buy" rating.
• The company's stock has seen a 20.7% increase in revenue compared to the previous year, with an earnings per share of $0.58, surpassing analysts' expectations.
• Insider trading revealed significant sales by two insiders, indicating a 38.93% decrease in one insider's position after selling 15,000 shares at an average price of $44.68.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) shares reached a new 52-week high on Wednesday after Needham & Company LLC raised their price target on the stock from $56.00 to $65.00. Needham & Company LLC currently has a buy rating on the stock. TTM Technologies traded as high as $58.74 and last traded at $56.54, with a volume of 3299517 shares traded. The stock had previously closed at $54.24.

Several other brokerages have also issued reports on TTMI. B. Riley lifted their target price 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. Stifel Nicolaus lifted their target price on shares of TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, Truist Financial lifted their target price on shares of TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, TTM Technologies currently has an average rating of "Buy" and a consensus price target of $54.50.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 15,000 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.68, for a total transaction of $670,200.00. Following the transaction, the insider directly owned 23,531 shares of the company's stock, valued at approximately $1,051,365.08. The trade was a 38.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Spoto sold 3,484 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $46.58, for a total transaction of $162,284.72. Following the transaction, the insider directly owned 28,649 shares in the company, valued at approximately $1,334,470.42. The trade was a 10.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,477 shares of company stock worth $2,867,405. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of TTM Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TTMI. State of Wyoming grew its position in shares of TTM Technologies by 103.3% in the 4th quarter. State of Wyoming now owns 5,708 shares of the technology company's stock worth $141,000 after buying an additional 2,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of TTM Technologies by 34.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 176,872 shares of the technology company's stock worth $4,378,000 after buying an additional 44,833 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of TTM Technologies in the 4th quarter worth about $4,632,000. Wealth Enhancement Advisory Services LLC grew its position in shares of TTM Technologies by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock worth $345,000 after buying an additional 555 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of TTM Technologies by 2,396.2% in the 1st quarter. GAMMA Investing LLC now owns 50,947 shares of the technology company's stock worth $1,045,000 after buying an additional 48,906 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

TTM Technologies Stock Up 4.2%

The stock's 50-day moving average price is $46.12 and its two-hundred day moving average price is $34.53. The stock has a market capitalization of $5.84 billion, a PE ratio of 62.82 and a beta of 1.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.72 and a current ratio of 2.03.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. The firm had revenue of $730.62 million for the quarter, compared to the consensus estimate of $668.42 million. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The company's revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. As a group, analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

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.

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