TTM Technologies (NASDAQ:TTMI) Stock Price Up 5.2% - Time to Buy?

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report)'s stock price rose 5.2% during trading on Tuesday . The stock traded as high as $31.50 and last traded at $31.40. Approximately 276,856 shares traded hands during trading, a decline of 64% from the average daily volume of 773,479 shares. The stock had previously closed at $29.84.

Analyst Upgrades and Downgrades

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

TTM Technologies Stock Performance

The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 61.52 and a beta of 1.20. The firm's 50-day moving average price is $24.07 and its two-hundred day moving average price is $24.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The business had revenue of $648.67 million during the quarter, compared to analysts' expectations of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. TTM Technologies'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. Sell-side analysts predict 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 repurchase plan on Friday, May 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at TTM Technologies

In related news, SVP Dale Martin Knecht sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the transaction, the senior vice president now owns 76,346 shares in the company, valued at $2,253,733.92. This represents a 11.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas L. Soder sold 24,972 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total transaction of $749,160.00. Following the completion of the sale, the executive vice president now owns 173,026 shares of the company's stock, valued at $5,190,780. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,142 shares of company stock valued at $1,934,577. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On TTM Technologies

A number of large investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in TTM Technologies by 532.1% in the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after purchasing an additional 1,648,017 shares during the last quarter. Nuveen LLC acquired a new stake in shares of TTM Technologies in the 1st quarter valued at $31,763,000. Victory Capital Management Inc. increased its stake in shares of TTM Technologies by 391.6% in the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock valued at $24,268,000 after buying an additional 781,058 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in shares of TTM Technologies during the fourth quarter worth $19,040,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of TTM Technologies by 50.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after acquiring an additional 515,015 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.