TTM Technologies (NASDAQ:TTMI) Sets New 12-Month High After Earnings Beat

TTM Technologies, Inc. (NASDAQ:TTMI)’s share price hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $30.41 and last traded at $29.03, with a volume of 249033 shares changing hands. The stock had previously closed at $24.78.

The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. TTM Technologies had a return on equity of 8.67% and a net margin of 2.90%.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised their target price on shares of TTM Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday.

Insider Activity at TTM Technologies

In related news, EVP Shawn A. Powers sold 6,400 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $23.74, for a total value of $151,936.00. Following the sale, the executive vice president now owns 95,341 shares of the company’s stock, valued at approximately $2,263,395.34. This trade represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeff Jankowsky sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $24.23, for a total value of $121,150.00. Following the transaction, the insider now owns 55,273 shares of the company’s stock, valued at approximately $1,339,264.79. The trade was a 8.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,233 shares of company stock valued at $1,042,577 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of TTM Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in TTM Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,437,400 shares of the technology company’s stock worth $44,491,000 after acquiring an additional 30,738 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of TTM Technologies by 1.3% during the third quarter. Wellington Management Group LLP now owns 1,394,661 shares of the technology company’s stock valued at $25,453,000 after purchasing an additional 18,027 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in TTM Technologies by 41.7% during the third quarter. Loomis Sayles & Co. L P now owns 1,249,540 shares of the technology company’s stock valued at $22,804,000 after buying an additional 367,608 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of TTM Technologies in the third quarter worth about $18,600,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of TTM Technologies in the third quarter worth approximately $15,314,000. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Stock Performance

The company has a quick ratio of 1.70, a current ratio of 2.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.02 billion, a PE ratio of 45.19 and a beta of 1.19. The firm’s 50-day moving average price is $25.04 and its two-hundred day moving average price is $21.79.

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.