TTM Technologies (NASDAQ:TTMI) Reaches New 52-Week High on Better-Than-Expected Earnings

Shares of TTM Technologies, Inc. (NASDAQ:TTMI) reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The stock 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 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 8.67% and a net margin of 2.90%.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC lifted their target price on TTM Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday.

Insider Transactions at TTM Technologies

In other news, insider Jeff Jankowsky sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the insider now owns 50,273 shares of the company’s stock, valued at approximately $1,256,825. The trade was a 9.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Douglas L. Soder sold 5,985 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $25.00, for a total value of $149,625.00. Following the transaction, the executive vice president now directly owns 179,493 shares of the company’s stock, valued at $4,487,325. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,261 shares of company stock valued at $1,043,417. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in TTM Technologies during the 4th quarter worth $3,289,000. Proficio Capital Partners LLC bought a new stake in TTM Technologies during the 4th quarter worth $295,000. Carrera Capital Advisors bought a new stake in TTM Technologies during the 4th quarter worth $1,152,000. Victory Capital Management Inc. grew its position in TTM Technologies by 391.6% during the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock worth $24,268,000 after acquiring an additional 781,058 shares during the last quarter. Finally, Bailard Inc. grew its position in TTM Technologies by 41.5% during the 4th quarter. Bailard Inc. now owns 16,700 shares of the technology company’s stock worth $413,000 after acquiring an additional 4,900 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Price Performance

The business has a 50-day moving average of $25.09 and a two-hundred day moving average of $21.83. The firm has a market cap of $2.72 billion, a P/E ratio of 40.49 and a beta of 1.19. The company has a current ratio of 2.00, a quick ratio of 1.70 and a debt-to-equity ratio of 0.59.

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.