TTM Technologies (NASDAQ:TTMI) Sets New 12-Month High After Analyst Upgrade

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) reached a new 52-week high during mid-day trading 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.

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

Insider Activity at TTM Technologies

In other news, SVP Dale Martin Knecht sold 20,000 shares of TTM Technologies stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $17.40, for a total value of $348,000.00. Following the completion of the transaction, the senior vice president now owns 81,392 shares in the company, valued at $1,416,220.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Catherine A. Gridley sold 10,000 shares of TTM Technologies stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $17.49, for a total transaction of $174,900.00. Following the completion of the transaction, the executive vice president now directly owns 120,296 shares of the company's stock, valued at $2,103,977.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Dale Martin Knecht sold 20,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $17.40, for a total value of $348,000.00. Following the sale, the senior vice president now owns 81,392 shares of the company's stock, valued at approximately $1,416,220.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,000 shares of company stock worth $1,153,900. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On TTM Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position 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 buying an additional 23,945 shares in the last quarter. BNP Paribas Financial Markets grew its stake 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 buying an additional 40,784 shares in the last quarter. GSA Capital Partners LLP increased its stake in TTM Technologies by 135.0% during the first quarter. GSA Capital Partners LLP now owns 63,681 shares of the technology company's stock worth $997,000 after acquiring an additional 36,582 shares during the last quarter. Larson Financial Group LLC purchased a new stake in TTM Technologies during the 1st quarter valued at $266,000. Finally, Texas Permanent School Fund Corp boosted its stake in shares of TTM Technologies by 8.2% during the 1st 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. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Stock Up 13.8 %

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 company has a 50-day simple moving average of $18.81 and a 200-day simple moving average of $18.62. The firm has a market cap of $2.28 billion, a PE ratio of -1,150.00 and a beta of 1.25.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. The business had revenue of $605.10 million during the quarter, compared to analyst estimates of $582.70 million. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Analysts expect that TTM Technologies, Inc. will post 1.31 earnings per share for the current fiscal year.

About TTM Technologies

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.