TTM Technologies (NASDAQ:TTMI) Reaches New 52-Week High After Analyst Upgrade

TTM Technologies, Inc. (NASDAQ:TTMI) hit a new 52-week high on Thursday after Needham & Company LLC raised their price target on the stock from $24.00 to $26.00. Needham & Company LLC currently has a buy rating on the stock. TTM Technologies traded as high as $23.40 and last traded at $23.05, with a volume of 120767 shares traded. The stock had previously closed at $19.72.

Other research analysts have also issued research reports about the company. B. Riley lifted their price target on TTM Technologies from $25.50 to $27.25 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price target on TTM Technologies from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $24.00 price objective (up from $22.00) on shares of TTM Technologies in a report on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $25.31.

Insider Activity at TTM Technologies

In other TTM Technologies news, EVP Catherine A. Gridley sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $17.49, for a total transaction of $174,900.00. Following the sale, the executive vice president now owns 120,296 shares in the company, valued at $2,103,977.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Catherine A. Gridley sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $17.49, for a total value of $174,900.00. Following the sale, the executive vice president now owns 120,296 shares of the company’s stock, valued at approximately $2,103,977.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Shawn A. Powers sold 7,000 shares of TTM Technologies stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total value of $143,500.00. Following the sale, the executive vice president now directly owns 101,741 shares in the company, valued at $2,085,690.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,000 shares of company stock valued at $1,153,900. Insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of TTM Technologies by 2,130.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,069 shares of the technology company’s stock worth $392,000 after purchasing an additional 23,945 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of TTM Technologies by 61.3% in the 1st quarter. BNP Paribas Financial Markets now owns 107,322 shares of the technology company’s stock worth $1,680,000 after acquiring an additional 40,784 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in TTM Technologies by 135.0% during the 1st quarter. GSA Capital Partners LLP now owns 63,681 shares of the technology company’s stock worth $997,000 after buying an additional 36,582 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of TTM Technologies in the 1st quarter valued at $266,000. Finally, Texas Permanent School Fund Corp lifted its stake in shares of TTM Technologies by 8.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 89,484 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 6,776 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

TTM Technologies Stock Performance

The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $18.81 and a two-hundred day moving average price of $18.62. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -1,150.00 and a beta of 1.25.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. The business had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $582.70 million. During the same quarter in the prior year, the company earned $0.28 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts predict that TTM Technologies, Inc. will post 1.31 EPS for the current year.

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.