Taking on analysts’ expectations and winning: TTM Technologies Inc. (TTMI)

TTM Technologies Inc. (NASDAQ: TTMI) stock fell -1.42% on Wednesday to $13.17 against a previous-day closing price of $13.36. With 0.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.5 million shares. During the session, the Electronic Components company that operates in wider Technology sector, reached to the highest price of $13.31 whereas the lowest price it dropped to was $13.10. The 52-week range on TTMI shows that it touched its highest point at $17.49 and its lowest point at $11.13 during that stretch. It currently has a 1-year price target of $15.19. Beta for the stock currently stands at 1.43.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TTMI was up-trending over the past week, with a rise of 1.86%, but this was up by 13.63% over a month. Three-month performance dropped to -2.73% while six-month performance fell -13.41%. The stock lost -5.39% in the past year, while it has lost -12.67% so far this year. A look at the trailing 12-month EPS for TTMI yields 0.69 with Next year EPS estimates of 1.29. For the next quarter, that number is 0.20. This implies an EPS growth rate of 81.00% for this year and 35.15% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -8.70%.

Float and Shares Shorts:

At present, 102.38 million TTMI shares are outstanding with a float of 95.63 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.74 million, which was 1.69% higher than short shares on Mar 30, 2023. In addition to Mr. Thomas T. Edman as the firm’s Pres, CEO & Director, Mr. Todd B. Schull serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 99.03% of TTMI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 71.51% of TTMI, in contrast to 65.48% held by mutual funds. Shares owned by individuals account for 26.86%. As the largest shareholder in TTMI with 14.99% of the stake, BlackRock Fund Advisors holds 15,376,791 shares worth 15,376,791. A second-largest stockholder of TTMI, The Vanguard Group, Inc., holds 11,416,938 shares, controlling over 11.13% of the firm’s shares. Thrivent Asset Management LLC is the third largest shareholder in TTMI, holding 8,849,064 shares or 8.63% stake. With a 7.21% stake in TTMI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 7,399,060 shares are owned by the mutual fund manager. The Delaware Small Cap Value Fund, which owns about 3.93% of TTMI stock, is the second-largest Mutual Fund holder. It holds 4,034,402 shares valued at 47.65 million. Thrivent Small Cap Stock Fund holds 3.53% of the stake in TTMI, owning 3,619,528 shares worth 42.75 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Apr 02, 2023, TTMI reported revenue of $625.55M and operating income of $37.66M. The EBITDA in the recently reported quarter was $53.57M and diluted EPS was $0.27.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TTMI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TTMI analysts setting a high price target of $20.75 and a low target of $12.00, the average target price over the next 12 months is $15.19. Based on these targets, TTMI could surge 57.56% to reach the target high and fall by -8.88% to reach the target low. Reaching the average price target will result in a growth of 15.34% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded TTMI stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 8,600 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 33 over the past year. The total number of shares bought during that period was 517,028 while 294,545 shares were sold.

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