TTM Technologies (NASDAQ:TTMI) Reaches New 1-Year High – Time to Buy?

TTM Technologies, Inc. (NASDAQ:TTMI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $110.12 and last traded at $106.3690, with a volume of 352902 shares changing hands. The stock had previously closed at $102.76.

Wall Street Analyst Weigh In

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

TTM Technologies Stock Performance

The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 85.79 and a beta of 1.74. The company’s 50 day simple moving average is $79.00 and its 200 day simple moving average is $62.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.66 and a current ratio of 1.94.

Insider Transactions at TTM Technologies

In related news, insider Anthony Joseph Sandeen sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $67.30, for a total transaction of $134,600.00. Following the completion of the transaction, the insider owned 41,442 shares of the company’s stock, valued at $2,789,046.60. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert P. Farrell sold 643 shares of TTM Technologies stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $66.98, for a total value of $43,068.14. Following the transaction, the insider directly owned 19,406 shares in the company, valued at approximately $1,299,813.88. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,394 shares of company stock valued at $2,213,694 over the last three months. 1.30% of the stock is owned by company insiders.

Institutional Trading of TTM Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TTMI. Optiver Holding B.V. lifted its stake in TTM Technologies by 66.4% during the third quarter. Optiver Holding B.V. now owns 426 shares of the technology company’s stock valued at $25,000 after purchasing an additional 170 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of TTM Technologies by 448.8% in the third quarter. Bessemer Group Inc. now owns 461 shares of the technology company’s stock valued at $27,000 after buying an additional 377 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of TTM Technologies during the 4th quarter valued at $32,000. Wolff Wiese Magana LLC bought a new stake in shares of TTM Technologies during the 4th quarter worth $34,000. Finally, Danske Bank A S acquired a new position in shares of TTM Technologies in the 4th quarter worth $34,000. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Company Profile

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.