TTM Technologies (NASDAQ:TTMI) Reaches New 1-Year High at $20.19

TTM Technologies, Inc. (NASDAQ:TTMI) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $20.19 and last traded at $20.05, with a volume of 411963 shares changing hands. The stock had previously closed at $19.79.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TTMI. Needham & Company LLC boosted their price objective on shares of TTM Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, June 17th. Stifel Nicolaus upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $19.00 in a report on Thursday, May 2nd. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $18.83.

TTM Technologies Price Performance

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 company has a market capitalization of $2.08 billion, a PE ratio of -997.00 and a beta of 1.25. The stock’s 50 day simple moving average is $18.62 and its 200-day simple moving average is $16.19.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $570.11 million for the quarter, compared to analyst estimates of $553.01 million. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. As a group, equities analysts forecast that TTM Technologies, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Transactions at TTM Technologies

In other news, COO Philip Titterton sold 21,910 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $18.99, for a total transaction of $416,070.90. Following the completion of the transaction, the chief operating officer now directly owns 157,528 shares of the company’s stock, valued at $2,991,456.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Douglas L. Soder sold 9,714 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $20.00, for a total transaction of $194,280.00. Following the completion of the transaction, the executive vice president now directly owns 204,493 shares of the company’s stock, valued at $4,089,860. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Philip Titterton sold 21,910 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.99, for a total value of $416,070.90. Following the completion of the transaction, the chief operating officer now directly owns 157,528 shares of the company’s stock, valued at $2,991,456.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,721 shares of company stock valued at $2,339,678. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TTM Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTMI. Wellington Management Group LLP acquired a new position in TTM Technologies in the third quarter valued at approximately $13,051,000. Norges Bank purchased a new stake in TTM Technologies in the fourth quarter valued at approximately $10,616,000. Archon Capital Management LLC purchased a new stake in TTM Technologies in the first quarter valued at approximately $3,097,000. Panagora Asset Management Inc. lifted its stake in TTM Technologies by 36.3% in the fourth quarter. Panagora Asset Management Inc. now owns 472,739 shares of the technology company’s stock valued at $7,474,000 after buying an additional 125,810 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in TTM Technologies by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,299,477 shares of the technology company’s stock valued at $131,216,000 after buying an additional 121,498 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

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.