TTM Technologies (NASDAQ:TTMI) Trading Up 6.1% - Still a Buy?

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) shares traded up 6.1% during trading on Wednesday . The stock traded as high as $39.27 and last traded at $40.18. 220,667 shares changed hands during trading, a decline of 74% from the average session volume of 833,098 shares. The stock had previously closed at $37.87.

Wall Street Analysts Forecast Growth

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

TTM Technologies Trading Up 6.5%

The stock has a market capitalization of $4.10 billion, a P/E ratio of 53.69 and a beta of 1.37. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $28.59 and its 200-day moving average price is $25.40.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.39 by $0.11. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. The firm had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. During the same period in the previous year, the company posted $0.28 EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts expect 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 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 repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of TTM Technologies stock in a transaction on Friday, May 30th. The shares were sold at an average price of $29.50, for a total value of $295,000.00. Following the completion of the transaction, the insider now owns 34,037 shares of the company's stock, valued at approximately $1,004,091.50. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel J. Weber sold 20,170 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total transaction of $595,216.70. Following the sale, the executive vice president now directly owns 74,983 shares in the company, valued at approximately $2,212,748.33. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,430 shares of company stock valued at $3,089,726. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted 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 in the last quarter. Quarry LP grew its stake in TTM Technologies by 249.9% during the 1st 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 in the last quarter. USA Financial Formulas raised its holdings in TTM Technologies by 119.1% in the 1st quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock valued at $46,000 after acquiring an additional 1,216 shares during the last quarter. Sterling Capital Management LLC lifted its stake 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 worth $79,000 after purchasing an additional 2,831 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of TTM Technologies during the 4th quarter worth approximately $89,000. 95.79% of the stock is 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.

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