TTM Technologies (NASDAQ:TTMI) Hits New 1-Year High on Analyst Upgrade

Shares of TTM Technologies, Inc. (NASDAQ:TTMI) reached a new 52-week high during 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 changing hands. The stock had previously closed at $19.72.

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

Insider Activity

In related news, EVP Shawn A. Powers sold 7,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $20.50, for a total transaction of $143,500.00. Following the transaction, the executive vice president now owns 101,741 shares of the company’s stock, valued at approximately $2,085,690.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Dale Martin Knecht sold 20,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $17.40, for a total value of $348,000.00. Following the sale, the senior vice president now directly owns 81,392 shares in the company, valued at approximately $1,416,220.80. 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 accessible through the SEC website. 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 completion of the transaction, the executive vice president now owns 101,741 shares of the company’s stock, valued at approximately $2,085,690.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,000 shares of company stock valued at $1,153,900. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TTM Technologies

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

TTM Technologies Stock Up 13.8 %

The firm’s 50 day simple moving average is $18.86 and its 200-day simple moving average is $18.64. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -1,122.00 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.

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