TTM Technologies (NASDAQ:TTMI) Hits New 52-Week High - Still a Buy?

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $41.14 and last traded at $40.88, with a volume of 139048 shares trading hands. The stock had previously closed at $40.25.

Analyst Upgrades and Downgrades

Several analysts have commented on TTMI shares. Stifel Nicolaus reissued a "buy" rating and issued a $40.00 price objective (up from $33.00) on shares of TTM Technologies in a report on Monday, June 16th. Needham & Company LLC raised their price target on shares of TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Truist Financial raised their target price on shares of TTM Technologies from $36.00 to $41.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, B. Riley upped their price target 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 6.8%

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 capitalization of $4.53 billion, a PE ratio of 59.49 and a beta of 1.46. The business's 50 day moving average price is $31.21 and its 200-day moving average price is $26.02.

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

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

Insider Buying and Selling

In other news, SVP Dale Martin Knecht sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the sale, the senior vice president owned 76,346 shares in the company, valued at $2,253,733.92. This represents a 11.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Philip Titterton sold 23,486 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $36.39, for a total value of $854,655.54. Following the transaction, the chief operating officer directly owned 123,338 shares of the company's stock, valued at approximately $4,488,269.82. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,226 shares of company stock valued at $3,504,492 in the last quarter. Corporate 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 the stock. Smartleaf Asset Management LLC increased its stake in shares of TTM Technologies by 670.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock worth $35,000 after purchasing an additional 1,220 shares in the last quarter. Quarry LP boosted its stake in shares of TTM Technologies by 249.9% during the first quarter. Quarry LP now owns 2,110 shares of the technology company's stock valued at $43,000 after acquiring an additional 1,507 shares during the last quarter. USA Financial Formulas lifted its holdings in TTM Technologies by 119.1% in the 1st 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 in the last quarter. Sterling Capital Management LLC boosted its stake in shares of TTM Technologies by 808.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock worth $79,000 after purchasing an additional 2,831 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of TTM Technologies during the fourth quarter worth about $89,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.