Needham & Company LLC Forecasts Strong Price Appreciation for TTM Technologies (NASDAQ:TTMI) Stock

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

A number of other equities analysts have also recently weighed in on TTMI. B. Riley increased their price target on TTM Technologies from $25.50 to $27.25 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of TTM Technologies from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial reissued a “buy” rating and issued a $24.00 price target (up from $22.00) on shares of TTM Technologies in a research note on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $25.31.

TTM Technologies Trading Down 3.3 %

TTMI stock traded down $0.73 during trading on Thursday, reaching $21.71. 60,575 shares of the stock were exchanged, compared to its average volume of 760,214. The business has a 50 day moving average price of $18.86 and a 200-day moving average price of $18.64. TTM Technologies has a 1 year low of $13.43 and a 1 year high of $23.61. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 34.00 and a beta of 1.25.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The firm had revenue of $605.10 million for the quarter, compared to analysts’ expectations of $582.70 million. TTM Technologies had a return on equity of 8.71% and a net margin of 2.90%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, research analysts predict that TTM Technologies will post 1.31 earnings per share for the current year.

Insider Activity

In other news, EVP Shawn A. Powers sold 7,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total value of $143,500.00. Following the completion of the transaction, the executive vice president now owns 101,741 shares in the company, valued at approximately $2,085,690.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Catherine A. Gridley sold 10,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $17.49, for a total value of $174,900.00. Following the completion of the sale, the executive vice president now directly owns 120,296 shares of the company’s stock, valued at approximately $2,103,977.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shawn A. Powers sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total value of $143,500.00. Following the completion of the transaction, the executive vice president now directly owns 101,741 shares in the company, valued at approximately $2,085,690.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,000 shares of company stock worth $1,153,900. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in TTM Technologies by 0.5% in the first quarter. Vanguard Group Inc. now owns 13,610,120 shares of the technology company’s stock worth $212,998,000 after acquiring an additional 63,073 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of TTM Technologies by 88.8% during the 2nd quarter. American Century Companies Inc. now owns 1,479,403 shares of the technology company’s stock worth $28,745,000 after acquiring an additional 695,844 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of TTM Technologies by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 863,309 shares of the technology company’s stock worth $16,774,000 after acquiring an additional 12,789 shares in the last quarter. Emerald Advisers LLC purchased a new position in TTM Technologies in the 3rd quarter valued at approximately $13,693,000. Finally, First Eagle Investment Management LLC raised its holdings in TTM Technologies by 14.6% during the second quarter. First Eagle Investment Management LLC now owns 724,641 shares of the technology company’s stock worth $14,080,000 after purchasing an additional 92,300 shares during 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.