TTM Technologies (NASDAQ:TTMI) Price Target Raised to $26.00

TTM Technologies (NASDAQ:TTMI) had its target price lifted by Needham & Company LLC from $24.00 to $26.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. B. Riley boosted their target price on TTM Technologies from $25.50 to $27.25 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of TTM Technologies in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on TTM Technologies from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $25.31.

TTM Technologies Trading Down 1.6 %

Shares of TTMI opened at $22.09 on Thursday. The stock has a fifty day moving average price of $18.90 and a two-hundred day moving average price of $18.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 2.00. TTM Technologies has a 52-week low of $13.43 and a 52-week high of $23.61. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 33.47 and a beta of 1.22.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. TTM Technologies had a return on equity of 8.67% and a net margin of 2.90%. The firm had revenue of $605.10 million during the quarter, compared to the consensus estimate of $582.70 million. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts predict that TTM Technologies will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Shawn A. Powers sold 7,000 shares of TTM Technologies stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.50, for a total transaction of $143,500.00. Following the completion of the sale, the executive vice president now directly owns 101,741 shares of the company’s stock, valued at $2,085,690.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Shawn A. Powers sold 7,000 shares of TTM Technologies stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.50, for a total transaction of $143,500.00. Following the completion of the sale, the executive vice president now directly owns 101,741 shares of the company’s stock, valued at $2,085,690.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel J. Weber sold 13,000 shares of TTM Technologies stock in a transaction on Monday, August 19th. The stock was sold at an average price of $19.00, for a total value of $247,000.00. Following the sale, the executive vice president now directly owns 94,488 shares of the company’s stock, valued at approximately $1,795,272. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,000 shares of company stock valued at $1,153,900 over the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of TTM Technologies by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,598 shares of the technology company’s stock worth $29,000 after purchasing an additional 642 shares during the period. CWM LLC grew its stake in TTM Technologies by 202.6% in the second quarter. CWM LLC now owns 1,858 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,244 shares during the period. Covestor Ltd grew its stake in TTM Technologies by 3,220.3% in the third quarter. Covestor Ltd now owns 1,959 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,900 shares during the period. Headlands Technologies LLC acquired a new position in TTM Technologies in the first quarter valued at about $37,000. Finally, Innealta Capital LLC acquired a new position in TTM Technologies in the second quarter valued at about $64,000. 95.79% of the stock is owned by institutional investors and hedge funds.

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.