TTM Technologies (NASDAQ:TTMI) Sets New 12-Month High on Better-Than-Expected Earnings

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $30.41 and last traded at $29.03, with a volume of 249033 shares. The stock had previously closed at $24.78.

The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%.

Analysts Set New Price Targets

Separately, Needham & Company LLC upped their price target on shares of TTM Technologies from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday.

Insider Buying and Selling

In other TTM Technologies news, insider Jeff Jankowsky sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $24.23, for a total transaction of $121,150.00. Following the completion of the transaction, the insider now owns 55,273 shares of the company's stock, valued at $1,339,264.79. This represents a 8.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Shawn A. Powers sold 6,400 shares of TTM Technologies stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $23.74, for a total transaction of $151,936.00. Following the completion of the sale, the executive vice president now owns 95,341 shares in the company, valued at $2,263,395.34. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,261 shares of company stock worth $1,043,417. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TTM Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in TTMI. The Manufacturers Life Insurance Company raised its position in TTM Technologies by 12.4% during the second quarter. The Manufacturers Life Insurance Company now owns 54,986 shares of the technology company's stock worth $1,068,000 after acquiring an additional 6,052 shares in the last quarter. Creative Planning acquired a new position in shares of TTM Technologies during the 2nd quarter worth about $330,000. Sanctuary Advisors LLC bought a new stake in shares of TTM Technologies in the 2nd quarter valued at about $543,000. GAMMA Investing LLC lifted its stake in TTM Technologies by 67.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,598 shares of the technology company's stock valued at $29,000 after purchasing an additional 642 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in TTM Technologies by 2.4% during the third quarter. Wedge Capital Management L L P NC now owns 142,772 shares of the technology company's stock worth $2,606,000 after purchasing an additional 3,385 shares during the period. 95.79% of the stock is owned by institutional investors.

TTM Technologies Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.70. The business has a 50-day simple moving average of $25.12 and a two-hundred day simple moving average of $21.85. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 47.18 and a beta of 1.19.

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.