TTM Technologies (NASDAQ:TTMI) Sees Large Volume Increase - Here's Why

Shares of TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) saw strong trading volume on Tuesday . 1,570,382 shares traded hands during trading, an increase of 68% from the previous session's volume of 935,867 shares.The stock last traded at $45.29 and had previously closed at $47.47.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TTMI shares. Stifel Nicolaus restated a "buy" rating and set a $40.00 price objective (up previously from $33.00) on shares of TTM Technologies in a report on Monday, June 16th. Wall Street Zen lowered shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Truist Financial increased their target price 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. Needham & Company LLC increased their target price on shares of TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Finally, B. Riley increased their target price on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $45.25.

TTM Technologies Stock Performance

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 business's fifty day simple moving average is $36.29 and its 200-day simple moving average is $27.65. The firm has a market capitalization of $4.58 billion, a PE ratio of 60.05 and a beta of 1.46.

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, beating analysts' consensus estimates of $0.39 by $0.11. The business had revenue of $648.67 million for the quarter, compared to analysts' expectations of $621.44 million. TTM Technologies had a net margin of 3.09% and a return on equity of 10.75%. The business's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, equities research analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current year.

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

Insider Buying and Selling

In other TTM Technologies news, COO Philip Titterton sold 23,486 shares of the company's stock in a transaction 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 sale, the chief operating officer owned 123,338 shares of the company's stock, valued at approximately $4,488,269.82. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the completion of the sale, the executive vice president directly owned 74,983 shares in the company, valued at $2,212,748.33. This trade represents a 21.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,226 shares of company stock valued at $3,504,492 in the last 90 days. Company insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On TTM Technologies

Large investors have recently modified their holdings of the stock. Focus Partners Wealth lifted its holdings in shares of TTM Technologies by 1.1% in the 1st quarter. Focus Partners Wealth now owns 31,944 shares of the technology company's stock worth $655,000 after purchasing an additional 343 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of TTM Technologies by 8.5% in the 4th quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock worth $139,000 after purchasing an additional 442 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings 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 purchasing an additional 555 shares during the last quarter. New York State Teachers Retirement System raised its stake in TTM Technologies by 0.5% during the 1st quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock valued at $2,268,000 after acquiring an additional 567 shares in the last quarter. Finally, CWM LLC raised its stake in TTM Technologies by 14.4% during the 1st quarter. CWM LLC now owns 4,501 shares of the technology company's stock valued at $92,000 after acquiring an additional 567 shares in the last quarter. Institutional investors and hedge funds 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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