TTM Technologies (NASDAQ:TTMI) Sets New 52-Week High - Time to Buy?

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $37.93 and last traded at $37.87, with a volume of 1350327 shares changing hands. The stock had previously closed at $36.95.

Wall Street Analyst Weigh In

A number of research firms recently commented on TTMI. Truist Financial upped their price objective on TTM Technologies from $36.00 to $41.00 and gave the company a "buy" rating in a report on Monday, June 9th. Needham & Company LLC boosted their target price on TTM Technologies from $35.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, June 20th. B. Riley boosted their target price on TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $40.00 target price (up from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th.

TTM Technologies Trading Up 1.0%

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.75. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 53.67 and a beta of 1.37. The business has a 50 day simple moving average of $29.86 and a 200-day simple moving average of $25.70.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings data 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 company 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%. TTM Technologies's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, equities analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its board has authorized a stock repurchase program on Friday, May 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at TTM Technologies

In related news, EVP Daniel J. Weber sold 20,170 shares of the 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 completion of the transaction, the executive vice president now directly owns 74,983 shares of the company's stock, valued at approximately $2,212,748.33. This represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Dale Martin Knecht sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.52, for a total value of $295,200.00. Following the transaction, the senior vice president now directly owns 76,346 shares of the company's stock, valued at $2,253,733.92. This trade represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,226 shares of company stock valued at $3,504,492 over the last three months. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Inspire Investing LLC boosted its position in TTM Technologies by 214.1% during the first quarter. Inspire Investing LLC now owns 50,880 shares of the technology company's stock valued at $1,044,000 after purchasing an additional 34,680 shares during the last quarter. Strs Ohio acquired a new position in TTM Technologies during the first quarter valued at approximately $800,000. Intech Investment Management LLC boosted its position in TTM Technologies by 5.4% during the first quarter. Intech Investment Management LLC now owns 118,782 shares of the technology company's stock valued at $2,436,000 after purchasing an additional 6,125 shares during the last quarter. Focus Partners Wealth boosted its position in TTM Technologies by 1.1% during the first quarter. Focus Partners Wealth now owns 31,944 shares of the technology company's stock valued at $655,000 after purchasing an additional 343 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in TTM Technologies by 1,150.2% during the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock valued at $2,869,000 after purchasing an additional 128,700 shares during the last quarter. 95.79% of the stock is 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.