TTM Technologies (NASDAQ:TTMI) Stock Price Up 4.1% – What’s Next?

TTM Technologies, Inc. (NASDAQ:TTMI) shares traded up 4.1% during trading on Friday . The stock traded as high as $103.24 and last traded at $100.4350. 141,894 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 3,409,767 shares. The stock had previously closed at $96.48.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TTMI shares. Needham & Company LLC increased their target price on TTM Technologies from $79.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Truist Financial set a $113.00 price objective on shares of TTM Technologies in a research report on Wednesday, January 14th. Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of TTM Technologies in a research note on Wednesday, January 21st. Finally, B. Riley upped their price target on shares of TTM Technologies from $81.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $99.00.

TTM Technologies Stock Up 1.8%

The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 77.94 and a beta of 1.74. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average is $78.24 and its two-hundred day moving average is $61.79.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, October 29th. The technology company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. TTM Technologies had a return on equity of 13.21% and a net margin of 4.74%.The business had revenue of $752.74 million for the quarter, compared to analysts’ expectations of $711.91 million. During the same period in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, insider Robert P. Farrell sold 3,476 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $68.93, for a total value of $239,600.68. Following the transaction, the insider directly owned 20,346 shares in the company, valued at $1,402,449.78. The trade was a 14.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony Joseph Sandeen sold 2,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $67.30, for a total transaction of $134,600.00. Following the completion of the sale, the insider directly owned 41,442 shares of the company’s stock, valued at approximately $2,789,046.60. This trade represents a 4.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 36,870 shares of company stock worth $2,520,245. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Polar Capital Holdings Plc purchased a new stake in TTM Technologies in the third quarter valued at $176,376,000. Invesco Ltd. grew its holdings in shares of TTM Technologies by 127.7% during the 3rd quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company’s stock worth $277,281,000 after purchasing an additional 2,699,494 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of TTM Technologies by 575.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,831,425 shares of the technology company’s stock worth $105,490,000 after purchasing an additional 1,560,394 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in TTM Technologies in the 3rd quarter valued at about $57,271,000. Finally, FengHe Fund Management Pte. Ltd. acquired a new position in TTM Technologies in the third quarter valued at about $54,148,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.