TTM Technologies (NASDAQ:TTMI) Hits New 52-Week High - What's Next?

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

Analyst Ratings Changes

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

TTM Technologies Stock Up 2.5%

The company has a market capitalization of $3.85 billion, a P/E ratio of 50.49 and a beta of 1.37. 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 company has a 50 day moving average of $28.21 and a 200-day moving average of $25.31.

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

TTM Technologies announced that its Board of Directors has approved a share buyback plan on Friday, May 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at TTM Technologies

In other news, EVP Douglas L. Soder sold 24,972 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total transaction of $749,160.00. Following the sale, the executive vice president now owns 173,026 shares in the company, valued at $5,190,780. This represents a 12.61% decrease in their ownership of the stock. 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 business'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 transaction of $295,000.00. Following the completion of the transaction, the insider now owns 34,037 shares of the company's stock, valued at approximately $1,004,091.50. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,944 shares of company stock valued at $2,235,071. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of TTM Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TTMI. Smartleaf Asset Management LLC boosted its position in shares of TTM Technologies by 670.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after buying an additional 1,220 shares during the last quarter. Quarry LP grew its stake in shares of TTM Technologies by 249.9% in the first quarter. Quarry LP now owns 2,110 shares of the technology company's stock worth $43,000 after acquiring an additional 1,507 shares during the period. USA Financial Formulas raised its holdings in shares of TTM Technologies by 119.1% during the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock valued at $46,000 after purchasing an additional 1,216 shares during the last quarter. Sterling Capital Management LLC lifted its position in TTM Technologies by 808.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock valued at $79,000 after purchasing an additional 2,831 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in TTM Technologies in the fourth quarter worth approximately $89,000. 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.

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