TTM Technologies (NASDAQ:TTMI) Sets New 52-Week High on Analyst Upgrade

TTM Technologies, Inc. (NASDAQ:TTMI)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $19.00 to $21.00. Needham & Company LLC currently has a buy rating on the stock. TTM Technologies traded as high as $19.03 and last traded at $18.92, with a volume of 345021 shares. The stock had previously closed at $18.48.

Separately, Stifel Nicolaus raised shares of TTM Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $15.00 to $19.00 in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.83.

Insider Activity at TTM Technologies

In other TTM Technologies news, insider Anthony Joseph Sandeen sold 23,683 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $17.53, for a total value of $415,162.99. Following the completion of the sale, the insider now directly owns 28,056 shares of the company’s stock, valued at approximately $491,821.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Dale Martin Knecht sold 7,029 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $18.14, for a total value of $127,506.06. Following the transaction, the senior vice president now directly owns 90,024 shares of the company’s stock, valued at approximately $1,633,035.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Joseph Sandeen sold 23,683 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $17.53, for a total transaction of $415,162.99. Following the sale, the insider now owns 28,056 shares of the company’s stock, valued at approximately $491,821.68. The disclosure for this sale can be found here. Insiders have sold a total of 55,712 shares of company stock valued at $992,919 over the last 90 days. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in TTM Technologies during the third quarter valued at $13,051,000. Panagora Asset Management Inc. raised its stake in TTM Technologies by 36.3% in the 4th quarter. Panagora Asset Management Inc. now owns 472,739 shares of the technology company’s stock valued at $7,474,000 after acquiring an additional 125,810 shares during the period. Bridgeway Capital Management LLC raised its stake in TTM Technologies by 4.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 934,498 shares of the technology company’s stock valued at $14,774,000 after acquiring an additional 40,111 shares during the period. Allianz Asset Management GmbH lifted its holdings in TTM Technologies by 169.2% during the fourth quarter. Allianz Asset Management GmbH now owns 137,014 shares of the technology company’s stock valued at $2,166,000 after purchasing an additional 86,112 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in TTM Technologies during the fourth quarter worth about $809,000. 95.79% of the stock is owned by institutional investors.

TTM Technologies Price Performance

The stock has a market cap of $1.93 billion, a PE ratio of -923.54 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.09 and a quick ratio of 1.77. The firm’s 50 day moving average price is $17.02 and its two-hundred day moving average price is $15.70.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. The business had revenue of $570.11 million for the quarter, compared to analysts’ expectations of $553.01 million. On average, research analysts expect that TTM Technologies, Inc. will post 1.29 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.