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

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

Analyst Upgrades and Downgrades

TTMI has been the topic of several research reports. Wall Street Zen lowered shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday. B. Riley upped their target price 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. Stifel Nicolaus restated a "buy" rating and issued a $40.00 target price (up previously from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Needham & Company LLC upped 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, Truist Financial upped their target price on shares of TTM Technologies from $36.00 to $41.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $40.00.

TTM Technologies Stock Up 6.8%

The firm's fifty day moving average price is $32.18 and its 200-day moving average price is $26.28. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.75. The firm has a market capitalization of $4.53 billion, a P/E ratio of 59.49 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 (EPS) for the quarter, beating the consensus estimate 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 net margin of 3.09% and a return on equity of 10.75%. The business's revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. As a group, equities research analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies announced that its board has approved a stock repurchase plan on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at TTM Technologies

In related news, SVP Dale Martin Knecht sold 7,487 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $39.01, for a total transaction of $292,067.87. Following the completion of the sale, the senior vice president directly owned 59,947 shares of the company's stock, valued at $2,338,532.47. This represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total transaction of $595,216.70. Following the sale, the executive vice president directly owned 74,983 shares of the company's stock, valued at approximately $2,212,748.33. This represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,226 shares of company stock valued at $3,504,492. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of TTM Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its stake in TTM Technologies by 532.1% during the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock valued at $48,454,000 after purchasing an additional 1,648,017 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of TTM Technologies by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock valued at $34,989,000 after acquiring an additional 115,766 shares in the last quarter. Nuveen LLC purchased a new stake in shares of TTM Technologies in the 1st quarter valued at approximately $31,763,000. Massachusetts Financial Services Co. MA lifted its position in shares of TTM Technologies by 50.5% in the 4th 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 in the last quarter. Finally, Emerald Advisers LLC lifted its position in shares of TTM Technologies by 34.3% in the 1st quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock valued at $29,533,000 after acquiring an additional 367,798 shares in the last quarter. 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.