TTM Technologies (NASDAQ:TTMI) Trading Up 5.2% - Should You Buy?

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

Wall Street Analyst Weigh In

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

TTM Technologies Price Performance

The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 59.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99. The company has a 50-day simple moving average of $23.83 and a two-hundred day simple moving average of $24.24.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The firm had revenue of $648.67 million for the quarter, compared to analyst estimates of $621.44 million. During the same period in the prior year, the firm posted $0.28 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts forecast that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies announced that its Board of Directors has initiated a stock 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 purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Tom Clapprood sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $29.50, for a total value of $295,000.00. Following the completion of the sale, the insider now directly owns 34,037 shares of the company's stock, valued at $1,004,091.50. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Douglas L. Soder sold 24,972 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the transaction, the executive vice president now directly owns 173,026 shares in the company, valued at $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,142 shares of company stock worth $1,934,577. Company insiders own 1.30% of the company's stock.

Institutional Trading of TTM Technologies

A number of hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in TTM Technologies by 670.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after buying an additional 1,220 shares during the last quarter. Quarry LP grew its position in shares of 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 purchasing an additional 1,507 shares during the last quarter. USA Financial Formulas grew its position in shares of TTM Technologies by 119.1% in the first 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 during the last quarter. Sterling Capital Management LLC increased 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 worth $79,000 after purchasing an additional 2,831 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in TTM Technologies during the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 95.79% of the company's stock.

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.