TTM Technologies (NASDAQ:TTMI) Sets New 1-Year High After Analyst Upgrade

Shares of TTM Technologies, Inc. (NASDAQ:TTMI) reached a new 52-week high during trading on Tuesday after Truist Financial raised their price target on the stock from $36.00 to $41.00. Truist Financial currently has a buy rating on the stock. TTM Technologies traded as high as $35.79 and last traded at $35.70, with a volume of 2135871 shares trading hands. The stock had previously closed at $33.22.

A number of other research firms have also commented on TTMI. B. Riley lifted their price objective on shares of TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Needham & Company LLC increased their price objective 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. Finally, Stifel Nicolaus began coverage on shares of TTM Technologies in a research report on Tuesday, February 11th. They issued a “buy” rating and a $33.00 price target on the stock.

Insider Transactions at TTM Technologies

In related news, EVP Douglas L. Soder sold 24,972 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total transaction of $749,160.00. Following the transaction, the executive vice president now directly owns 173,026 shares in the company, valued at approximately $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dale Martin Knecht sold 10,000 shares of the 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 transaction, the senior vice president now owns 76,346 shares in the company, valued at approximately $2,253,733.92. The trade was a 11.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 73,944 shares of company stock valued at $2,235,071. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TTMI. Smartleaf Asset Management LLC increased 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 worth $35,000 after acquiring an additional 1,220 shares during the last quarter. Quarry LP lifted its holdings in shares of TTM Technologies by 249.9% during 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 in the last quarter. USA Financial Formulas raised its stake 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 worth $46,000 after buying an additional 1,216 shares during the period. Sterling Capital Management LLC grew its holdings in TTM Technologies by 808.9% during 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 in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of TTM Technologies during the 4th quarter worth approximately $83,000. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Trading Up 1.1%

The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3.72 billion, a P/E ratio of 67.74 and a beta of 1.37. The company has a 50-day moving average price of $25.33 and a 200 day moving average price of $24.63.

TTM Technologies (NASDAQ:TTMI) 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. The business had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. On average, research analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies declared that its Board of Directors has authorized a stock repurchase program on Friday, May 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.