TTM Technologies (NASDAQ:TTMI) Sets New 1-Year High - What's Next?

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $32.44 and last traded at $32.39, with a volume of 2488447 shares. The stock had previously closed at $29.84.

Analyst Ratings Changes

Several analysts have issued reports on TTMI shares. Truist Financial dropped their price objective on TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC raised their price objective on TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus assumed coverage on TTM Technologies in a research report on Tuesday, February 11th. They set a "buy" rating and a $33.00 target price for the company. 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 note on Thursday, May 1st.

TTM Technologies Price Performance

The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $23.83 and a 200 day simple moving average of $24.24. The stock has a market capitalization of $3.26 billion, a P/E ratio of 59.46 and a beta of 1.20.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The business 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 posted $0.28 earnings per share. TTM Technologies's quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its board has approved a stock repurchase plan on Friday, May 9th that permits the company to repurchase $100.00 million in outstanding 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 typically an indication that the company's management believes its shares are undervalued.

Insider Activity at TTM Technologies

In related 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 value of $295,200.00. Following the transaction, the senior vice president now owns 76,346 shares in the company, valued at approximately $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 accessible through this link. Also, EVP Daniel J. Weber sold 20,170 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 74,983 shares in the company, valued at approximately $2,212,748.33. The trade was a 21.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,142 shares of company stock worth $1,934,577. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On TTM Technologies

Institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted 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 worth $35,000 after acquiring an additional 1,220 shares in the last quarter. Quarry LP increased its stake in TTM Technologies by 249.9% in 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 grew its stake 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 buying an additional 1,216 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of 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 buying an additional 2,831 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of TTM Technologies during the fourth quarter valued at about $83,000. Hedge funds and other 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.