TTM Technologies (NASDAQ:TTMI) Trading Up 5.7% - What's Next?

Shares of TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) shot up 5.7% on Thursday . The company traded as high as $43.97 and last traded at $44.15. 1,035,498 shares were traded during trading, an increase of 20% from the average session volume of 864,385 shares. The stock had previously closed at $41.76.

Analysts Set New Price Targets

TTMI has been the topic of several analyst reports. Needham & Company LLC boosted their target price on TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a report on Friday, June 20th. B. Riley lifted their target price on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus reissued a "buy" rating and set a $40.00 price target (up previously from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Finally, Truist Financial upped their price objective on TTM Technologies from $36.00 to $41.00 and gave the company a "buy" rating in a research report on Monday, June 9th.

TTM Technologies Stock Performance

The stock has a market capitalization of $4.44 billion, a P/E ratio of 58.29 and a beta of 1.46. 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 moving average price is $31.21 and its two-hundred day moving average price is $26.02.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its 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 3.09% and a return on equity of 10.75%. The firm had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. During the same quarter last year, the business earned $0.28 EPS. The business's revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

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

Insider Buying and Selling

In related news, insider Tom Clapprood sold 10,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the transaction, the insider directly owned 34,037 shares in the company, valued at $1,004,091.50. The trade was a 22.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dale Martin Knecht sold 10,000 shares of the business'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 transaction of $295,200.00. Following the sale, the senior vice president directly owned 76,346 shares in the company, valued at approximately $2,253,733.92. This represents a 11.58% 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 over the last three months. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of TTM Technologies

Several institutional investors have recently bought and sold shares of TTMI. Smartleaf Asset Management LLC grew its holdings 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 in the last quarter. Quarry LP lifted its stake in TTM Technologies by 249.9% during the first quarter. Quarry LP now owns 2,110 shares of the technology company's stock worth $43,000 after purchasing an additional 1,507 shares in the last quarter. USA Financial Formulas increased its stake in TTM Technologies by 119.1% during the 1st quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock worth $46,000 after buying an additional 1,216 shares during the period. Sterling Capital Management LLC boosted its position in TTM Technologies by 808.9% in the 4th 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 period. Finally, Meeder Asset Management Inc. acquired a new position in shares of TTM Technologies in the fourth quarter worth $89,000. 95.79% of the stock is 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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