TTM Technologies (NASDAQ:TTMI) Stock Price Up 7.2% – What’s Next?

TTM Technologies, Inc. (NASDAQ:TTMI)’s stock price rose 7.2% on Friday . The stock traded as high as $122.25 and last traded at $123.6580. Approximately 215,974 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 2,600,103 shares. The stock had previously closed at $115.39.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of TTM Technologies in a research note on Tuesday, August 18th. Stifel Nicolaus upped their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. B. Riley Financial upped their price objective on TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, TTM Technologies presently has an average rating of “Buy” and an average target price of $214.25.

TTM Technologies Stock Performance

The company has a market cap of $13.03 billion, a PE ratio of 55.67 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. The business has a 50-day moving average of $134.73 and a 200 day moving average of $137.53.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The business’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. Equities research analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, EVP Shawn A. Powers sold 9,856 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total value of $2,067,788.80. Following the completion of the sale, the executive vice president owned 119,268 shares in the company, valued at $25,022,426.40. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Catherine A. Gridley sold 8,966 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the completion of the sale, the executive vice president directly owned 69,679 shares of the company’s stock, valued at $14,618,654.20. This represents a 11.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 108,241 shares of company stock worth $20,911,975. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

A number of institutional investors have recently bought and sold shares of TTMI. BlackRock Inc. bought a new stake in TTM Technologies in the second quarter worth $2,053,347,000. Rokos Capital Management LLP purchased a new stake in shares of TTM Technologies in the first quarter valued at $13,031,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of TTM Technologies by 97.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock worth $19,270,000 after acquiring an additional 97,799 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of TTM Technologies in the 1st quarter worth about $36,130,000. Finally, Geode Capital Management LLC boosted its stake in shares of TTM Technologies by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock worth $184,119,000 after purchasing an additional 81,588 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.