TTM Technologies (NASDAQ:TTMI) Stock Price Up 9% – Should You Buy?

TTM Technologies, Inc. (NASDAQ:TTMI) shares shot up 9% during trading on Tuesday. The stock traded as high as $83.72 and last traded at $83.4610. Approximately 280,508 shares were traded during mid-day trading, a decline of 90% from the average session volume of 2,760,938 shares. The stock had previously closed at $76.58.

Analyst Ratings Changes

TTMI has been the topic of several analyst reports. Stifel Nicolaus lowered their price objective on TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Truist Financial lowered their target price on shares of TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Zacks Research downgraded shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings lowered shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, TTM Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.25.

TTM Technologies Price Performance

The company has a 50 day moving average price of $112.61 and a 200-day moving average price of $127.47. The company has a quick ratio of 1.49, a current ratio of 1.67 and a debt-to-equity ratio of 0.71. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 32.98 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Thursday, October 22nd. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.21. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 59.9% on a year-over-year basis. As a group, equities research analysts predict that TTM Technologies, Inc. will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In other news, CEO Edwin Roks acquired 5,000 shares of TTM Technologies stock in a transaction on Wednesday, October 28th. The stock was acquired at an average cost of $88.07 per share, with a total value of $440,350.00. Following the transaction, the chief executive officer owned 64,483 shares of the company’s stock, valued at approximately $5,679,017.81. This trade represents a 8.41% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dale Knecht sold 26,198 shares of TTM Technologies stock in a transaction on Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the sale, the senior vice president owned 40,138 shares in the company, valued at $5,699,596. This trade represents a 39.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 25,000 shares of company stock worth $2,460,550. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of TTM Technologies

A number of institutional investors have recently modified their holdings of TTMI. BlackRock Inc. bought a new position in shares of TTM Technologies in the second quarter valued at approximately $2,053,347,000. Atalan Capital Partners LP purchased a new stake in shares of TTM Technologies in the 2nd quarter worth about $189,234,000. Wellington Management Group LLP grew its holdings in TTM Technologies by 61.9% in the second quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock worth $424,237,000 after purchasing an additional 867,255 shares during the period. Bank of New York Mellon Corp bought a new stake in TTM Technologies in the second quarter worth $114,470,000. Finally, Palestra Capital Management LLC bought a new stake in TTM Technologies during the 2nd quarter valued at about $105,214,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

TTM Technologies Company Profile

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.