TTM Technologies (NASDAQ:TTMI) Reaches New 1-Year High - Here's Why

Key Points

• TTM Technologies reached a new 52-week high of $59.83 during mid-day trading, reflecting a significant increase from its previous close of $57.60.
• Analysts have raised their price targets for TTM Technologies, with Needham & Company setting a new target of $65.00 and several other firms maintaining a "buy" rating.
• The company reported a 20.7% year-over-year revenue increase, with quarterly earnings of $0.58 per share, exceeding analyst expectations.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.83 and last traded at $59.73, with a volume of 1989515 shares. The stock had previously closed at $57.60.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Needham & Company LLC increased their price target on shares of TTM Technologies from $56.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Stifel Nicolaus increased their price target on shares of TTM Technologies from $40.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. B. Riley increased their price target on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Wall Street Zen downgraded shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, September 26th. Finally, Truist Financial upped their price objective on shares of TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

TTM Technologies Price Performance

The company has a quick ratio of 1.72, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The stock's 50-day simple moving average is $47.13 and its two-hundred day simple moving average is $35.72. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 65.64 and a beta of 1.57.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $730.62 million during the quarter, compared to analysts' expectations of $668.42 million. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. Equities research analysts predict that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other TTM Technologies news, Director Wajid Ali bought 5,000 shares of TTM Technologies stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $41.75 per share, for a total transaction of $208,750.00. Following the completion of the transaction, the director directly owned 19,024 shares of the company's stock, valued at approximately $794,252. This represents a 35.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Spoto sold 3,484 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $46.58, for a total transaction of $162,284.72. Following the completion of the sale, the insider owned 28,649 shares of the company's stock, valued at $1,334,470.42. This trade represents a 10.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,477 shares of company stock valued at $2,867,405. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On TTM Technologies

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its position in TTM Technologies by 0.3% during the second quarter. Geode Capital Management LLC now owns 2,557,256 shares of the technology company's stock worth $104,399,000 after purchasing an additional 7,814 shares during the last quarter. Invesco Ltd. increased its position in TTM Technologies by 55.7% during the second quarter. Invesco Ltd. now owns 2,114,409 shares of the technology company's stock worth $86,310,000 after purchasing an additional 756,702 shares during the last quarter. Goldman Sachs Group Inc. increased its position in TTM Technologies by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after purchasing an additional 115,766 shares during the last quarter. Nuveen LLC acquired a new stake in TTM Technologies during the first quarter worth about $31,763,000. Finally, Emerald Advisers LLC increased its position in TTM Technologies by 34.3% during the first quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock worth $29,533,000 after purchasing an additional 367,798 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

About TTM Technologies

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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