TTM Technologies (NASDAQ:TTMI) Sees Strong Trading Volume

TTM Technologies, Inc. (NASDAQ:TTMI) saw unusually-strong trading volume on Tuesday . Approximately 1,457,128 shares were traded during trading, an increase of 90% from the previous session’s volume of 765,146 shares.The stock last traded at $17.33 and had previously closed at $17.00.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial reissued a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of TTM Technologies in a research report on Thursday, August 1st. Needham & Company LLC boosted their target price on shares of TTM Technologies from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of TTM Technologies from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, B. Riley lifted their price target on shares of TTM Technologies from $25.50 to $27.25 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.31.

TTM Technologies Price Performance

The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -879.56 and a beta of 1.26. The stock’s 50-day simple moving average is $19.65 and its 200 day simple moving average is $17.61.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. The firm had revenue of $605.10 million for the quarter, compared to analyst estimates of $582.70 million. During the same period in the prior year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that TTM Technologies, Inc. will post 1.31 EPS for the current fiscal year.

Insider Activity

In related news, insider Robert P. Farrell sold 5,159 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $18.99, for a total transaction of $97,969.41. Following the completion of the transaction, the insider now directly owns 22,958 shares in the company, valued at approximately $435,972.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Philip Titterton sold 21,910 shares of TTM Technologies stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.99, for a total value of $416,070.90. Following the completion of the transaction, the chief operating officer now directly owns 157,528 shares in the company, valued at $2,991,456.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert P. Farrell sold 5,159 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.99, for a total value of $97,969.41. Following the transaction, the insider now directly owns 22,958 shares of the company’s stock, valued at $435,972.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,009 shares of company stock valued at $2,500,659. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TTM Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its stake in shares of TTM Technologies by 202.6% during the second quarter. CWM LLC now owns 1,858 shares of the technology company’s stock worth $36,000 after buying an additional 1,244 shares during the period. Headlands Technologies LLC acquired a new position in TTM Technologies during the 1st quarter worth approximately $37,000. Innealta Capital LLC purchased a new stake in shares of TTM Technologies in the 2nd quarter valued at approximately $64,000. EntryPoint Capital LLC lifted its position in shares of TTM Technologies by 108.1% during the 1st quarter. EntryPoint Capital LLC now owns 6,264 shares of the technology company’s stock worth $98,000 after purchasing an additional 3,254 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of TTM Technologies during the second quarter worth $225,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

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.