TTM Technologies (NASDAQ:TTMI) Price Target Raised to $41.00

TTM Technologies (NASDAQ:TTMI) had its price objective raised by Truist Financial from $36.00 to $41.00 in a report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

Several other analysts also recently commented on TTMI. B. Riley increased their target price on shares of TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Stifel Nicolaus initiated coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Needham & Company LLC increased their target price on shares of TTM Technologies from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, May 1st.

TTM Technologies Stock Up 1.1%

Shares of TTMI stock opened at $36.58 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. TTM Technologies has a 1 year low of $15.77 and a 1 year high of $37.05. The firm’s fifty day moving average price is $25.33 and its two-hundred day moving average price is $24.63. The firm has a market capitalization of $3.72 billion, a P/E ratio of 67.74 and a beta of 1.37.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The company had revenue of $648.67 million during the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, equities analysts predict that TTM Technologies will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its Board of Directors has authorized a share repurchase program on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to buy up to 3.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other TTM Technologies news, SVP Dale Martin Knecht sold 1,140 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $34.00, for a total value of $38,760.00. Following the sale, the senior vice president now owns 75,206 shares of the company’s stock, valued at $2,557,004. This trade represents a 1.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tom Clapprood sold 10,000 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the sale, the insider now directly owns 34,037 shares in the company, valued at approximately $1,004,091.50. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,944 shares of company stock worth $2,235,071 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TTM Technologies

Several hedge funds have recently bought and sold shares of TTMI. Smartleaf Asset Management LLC boosted its stake in TTM Technologies by 670.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,220 shares in the last quarter. Quarry LP raised its holdings in TTM Technologies by 249.9% in the first quarter. Quarry LP now owns 2,110 shares of the technology company’s stock worth $43,000 after buying an additional 1,507 shares during the last quarter. USA Financial Formulas raised its holdings in TTM Technologies by 119.1% in the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company’s stock worth $46,000 after buying an additional 1,216 shares during the last quarter. Sterling Capital Management LLC raised its holdings in TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company’s stock worth $79,000 after buying an additional 2,831 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in TTM Technologies in the fourth quarter worth about $83,000. Institutional investors own 95.79% of the company’s stock.

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.