TTM Technologies (NASDAQ:TTMI) Reaches New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

TTMI has been the subject of a number of recent analyst reports. B. Riley boosted their target price on shares of TTM Technologies from $81.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of TTM Technologies in a research note on Wednesday, January 21st. Truist Financial set a $113.00 target price on TTM Technologies in a research report on Wednesday, January 14th. Needham & Company LLC lifted their target price on TTM Technologies from $79.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, Wall Street Zen downgraded TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 19th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $99.00.

TTM Technologies Stock Performance

The stock has a 50 day simple moving average of $79.00 and a 200 day simple moving average of $62.30. 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 company has a market cap of $11.22 billion, a price-to-earnings ratio of 85.79 and a beta of 1.74.

Insider Buying and Selling at TTM Technologies

In related news, Director Julie Spicer England sold 3,784 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $63.34, for a total transaction of $239,678.56. Following the completion of the sale, the director directly owned 106,541 shares of the company’s stock, valued at approximately $6,748,306.94. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas T. Edman sold 16,800 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $69.75, for a total transaction of $1,171,800.00. Following the completion of the transaction, the director owned 804,923 shares in the company, valued at $56,143,379.25. This represents a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 32,394 shares of company stock valued at $2,213,694. 1.30% of the stock is owned by company insiders.

Institutional Trading of TTM Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in TTM Technologies by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,156,053 shares of the technology company’s stock worth $757,789,000 after buying an additional 60,002 shares during the last quarter. Invesco Ltd. lifted its stake in TTM Technologies by 127.7% during the third 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 last quarter. Polar Capital Holdings Plc acquired a new position in TTM Technologies in the third quarter worth $176,376,000. Geode Capital Management LLC increased its stake in TTM Technologies by 0.3% during the second quarter. Geode Capital Management LLC now owns 2,557,256 shares of the technology company’s stock valued at $104,399,000 after purchasing an additional 7,814 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of TTM Technologies by 575.7% during the third 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 period. 95.79% of the stock is 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.