TTM Technologies (NASDAQ:TTMI) Given New $43.00 Price Target at Needham & Company LLC

TTM Technologies (NASDAQ:TTMI) had its price target upped by Needham & Company LLC from $35.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently weighed in on TTMI. Truist Financial boosted their price target on shares of TTM Technologies from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Stifel Nicolaus restated a “buy” rating and set a $40.00 target price (up from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Finally, B. Riley increased their price target 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.

TTM Technologies Stock Down 0.8%

Shares of TTMI stock opened at $36.69 on Friday. The company’s fifty day simple moving average is $27.85 and its two-hundred day simple moving average is $25.22. TTM Technologies has a 52 week low of $15.77 and a 52 week high of $37.88. The stock has a market cap of $3.73 billion, a P/E ratio of 48.92 and a beta of 1.37. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. The firm had revenue of $648.67 million for the quarter, compared to analysts’ expectations of $621.44 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. Analysts predict that TTM Technologies will post 1.76 EPS for the current fiscal year.

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

Insider Buying and Selling at TTM Technologies

In related news, SVP Dale Martin Knecht sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the sale, the senior vice president now directly owns 76,346 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the sale, the executive vice president now owns 173,026 shares of the company’s stock, valued at approximately $5,190,780. This trade represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,944 shares of company stock worth $2,235,071 over the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

Large investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC increased its position in shares of TTM Technologies by 214.1% during the first quarter. Inspire Investing LLC now owns 50,880 shares of the technology company’s stock worth $1,044,000 after acquiring an additional 34,680 shares during the period. Strs Ohio bought a new position in TTM Technologies in the first quarter worth approximately $800,000. Intech Investment Management LLC increased its holdings in TTM Technologies by 5.4% during the 1st quarter. Intech Investment Management LLC now owns 118,782 shares of the technology company’s stock worth $2,436,000 after purchasing an additional 6,125 shares during the period. Focus Partners Wealth raised its position in TTM Technologies by 1.1% during the 1st quarter. Focus Partners Wealth now owns 31,944 shares of the technology company’s stock valued at $655,000 after purchasing an additional 343 shares in the last quarter. Finally, Jane Street Group LLC raised its position in TTM Technologies by 1,150.2% during the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company’s stock valued at $2,869,000 after purchasing an additional 128,700 shares in 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.