Truist Financial Issues Pessimistic Forecast for TTM Technologies (NASDAQ:TTMI) Stock Price

TTM Technologies (NASDAQ:TTMI) had its target price decreased by stock analysts at Truist Financial from $38.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective indicates a potential upside of 43.83% from the company’s current price.

TTMI has been the subject of a number of other research reports. Stifel Nicolaus started coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They issued a “buy” rating and a $33.00 price objective for the company. Needham & Company LLC lifted their price target on shares of TTM Technologies from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Finally, B. Riley increased their price objective on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday.

TTM Technologies Stock Performance

TTM Technologies stock opened at $25.03 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. TTM Technologies has a 12 month low of $15.77 and a 12 month high of $30.41. The stock’s 50-day moving average is $20.95 and its 200-day moving average is $23.13. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 46.35 and a beta of 1.17.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The company had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. During the same period last year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts anticipate that TTM Technologies will post 1.76 earnings per share for the current year.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, EVP Daniel J. Weber sold 15,000 shares of TTM Technologies stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.34, for a total transaction of $395,100.00. Following the sale, the executive vice president now owns 95,153 shares of the company’s stock, valued at $2,506,330.02. The trade was a 13.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Dale Martin Knecht sold 3,848 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.01, for a total value of $100,086.48. Following the transaction, the senior vice president now owns 86,346 shares of the company’s stock, valued at $2,245,859.46. This trade represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,817 shares of company stock worth $1,316,006. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On TTM Technologies

Several institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of TTM Technologies by 532.1% during the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company’s stock worth $48,454,000 after buying an additional 1,648,017 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of TTM Technologies by 50.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company’s stock valued at $37,971,000 after acquiring an additional 515,015 shares in the last quarter. Emerald Advisers LLC raised its holdings in TTM Technologies by 34.3% during the first quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company’s stock worth $29,533,000 after purchasing an additional 367,798 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in TTM Technologies by 5.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,312,770 shares of the technology company’s stock worth $32,491,000 after purchasing an additional 63,230 shares in the last quarter. Finally, Portolan Capital Management LLC boosted its stake in TTM Technologies by 22.6% during the 4th quarter. Portolan Capital Management LLC now owns 1,301,342 shares of the technology company’s stock valued at $32,208,000 after purchasing an additional 239,972 shares in the last quarter. Institutional investors and hedge funds 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.