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

TTM Technologies, Inc. (NASDAQ:TTMI) shares 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. The stock had previously closed at $19.72.

A number of other research firms have also issued reports on TTMI. Truist Financial restated a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of TTM Technologies in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of TTM Technologies from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, B. Riley increased their target price on TTM Technologies from $25.50 to $27.25 and gave the company a “buy” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, TTM Technologies currently has a consensus rating of “Buy” and an average price target of $25.31.

Insider Buying and Selling at TTM Technologies

In other news, SVP Dale Martin Knecht sold 20,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $17.40, for a total transaction of $348,000.00. Following the transaction, the senior vice president now directly owns 81,392 shares in the company, valued at $1,416,220.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Daniel J. Weber sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.50, for a total transaction of $240,500.00. Following the transaction, the executive vice president now owns 107,488 shares of the company’s stock, valued at approximately $1,988,528. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dale Martin Knecht sold 20,000 shares of TTM Technologies stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $17.40, for a total transaction of $348,000.00. Following the completion of the sale, the senior vice president now owns 81,392 shares of the company’s stock, valued at $1,416,220.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,000 shares of company stock worth $1,153,900. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its position in TTM Technologies by 2,130.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,069 shares of the technology company’s stock worth $392,000 after buying an additional 23,945 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of TTM Technologies by 61.3% during the 1st quarter. BNP Paribas Financial Markets now owns 107,322 shares of the technology company’s stock valued at $1,680,000 after acquiring an additional 40,784 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of TTM Technologies by 135.0% in the 1st quarter. GSA Capital Partners LLP now owns 63,681 shares of the technology company’s stock valued at $997,000 after acquiring an additional 36,582 shares in the last quarter. Larson Financial Group LLC acquired a new stake in TTM Technologies in the 1st quarter worth approximately $266,000. Finally, Texas Permanent School Fund Corp boosted its position in TTM Technologies by 8.2% during the first quarter. Texas Permanent School Fund Corp now owns 89,484 shares of the technology company’s stock worth $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 market cap of $2.25 billion, a price-to-earnings ratio of 33.47 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a fifty day simple moving average of $18.90 and a 200 day simple moving average of $18.70.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.05. The business had revenue of $605.10 million during the quarter, compared to the consensus estimate of $582.70 million. TTM Technologies had a net margin of 2.90% and a return on equity of 8.71%. TTM Technologies’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. On average, sell-side analysts expect that TTM Technologies, Inc. will post 1.31 earnings per share for the current fiscal 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.