TTM Technologies (NASDAQ:TTMI) Given New $41.00 Price Target at Truist Financial

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

Several other analysts also recently weighed in on the stock. 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 research note on Thursday, May 1st. Stifel Nicolaus initiated coverage on TTM Technologies in a report on Tuesday, February 11th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, B. Riley upped their target price on TTM Technologies from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 1st.

TTM Technologies Stock Performance

Shares of TTM Technologies stock opened at $35.70 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $24.61 and its two-hundred day moving average is $24.46. TTM Technologies has a 52 week low of $15.77 and a 52 week high of $35.79. The company has a market capitalization of $3.63 billion, a PE ratio of 66.11 and a beta of 1.37.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $648.67 million for the quarter, compared to analysts’ expectations of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, analysts expect that TTM Technologies will post 1.76 earnings per share for the current year.

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

Insider Transactions at TTM Technologies

In other news, SVP Dale Martin Knecht sold 10,000 shares of TTM Technologies stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total value of $295,200.00. Following the transaction, the senior vice president now directly owns 76,346 shares in the company, valued at approximately $2,253,733.92. This trade represents a 11.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel J. Weber sold 20,170 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total value of $595,216.70. Following the sale, the executive vice president now owns 74,983 shares of the company’s stock, valued at $2,212,748.33. This trade represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,944 shares of company stock valued at $2,235,071. Company insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Hedge funds have recently modified their holdings of the company. Inspire Investing LLC grew its position in shares of TTM Technologies by 214.1% in the 1st quarter. Inspire Investing LLC now owns 50,880 shares of the technology company’s stock worth $1,044,000 after buying an additional 34,680 shares during the last quarter. Strs Ohio purchased a new stake in TTM Technologies during the first quarter valued at approximately $800,000. Intech Investment Management LLC boosted its stake in TTM Technologies by 5.4% in the first quarter. Intech Investment Management LLC now owns 118,782 shares of the technology company’s stock valued at $2,436,000 after acquiring an additional 6,125 shares in the last quarter. Focus Partners Wealth grew its holdings in TTM Technologies by 1.1% in the first quarter. Focus Partners Wealth now owns 31,944 shares of the technology company’s stock worth $655,000 after purchasing an additional 343 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in TTM Technologies by 1,150.2% in the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company’s stock worth $2,869,000 after purchasing an additional 128,700 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.