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

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

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

TTM Technologies Stock Down 1.6 %

NASDAQ:TTMI opened at $22.09 on Thursday. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 33.47 and a beta of 1.22. The stock has a 50-day moving average price of $18.90 and a two-hundred day moving average price of $18.70. 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 2.00, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results 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 company had revenue of $605.10 million for the quarter, compared to analyst estimates of $582.70 million. TTM Technologies had a return on equity of 8.67% and a net margin of 2.90%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. As a group, equities analysts expect that TTM Technologies will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Shawn A. Powers sold 7,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $20.50, for a total transaction of $143,500.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Shawn A. Powers sold 7,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $20.50, for a total transaction of $143,500.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Catherine A. Gridley sold 10,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $17.49, for a total value of $174,900.00. Following the sale, the executive vice president now owns 120,296 shares in the company, valued at $2,103,977.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,000 shares of company stock worth $1,153,900. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Several institutional investors and hedge funds have recently bought and sold shares of TTMI. Allspring Global Investments Holdings LLC raised its stake in TTM Technologies by 2,130.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,069 shares of the technology company’s stock valued at $392,000 after buying an additional 23,945 shares during the period. BNP Paribas Financial Markets raised its stake in TTM Technologies by 61.3% in the first quarter. BNP Paribas Financial Markets now owns 107,322 shares of the technology company’s stock valued at $1,680,000 after buying an additional 40,784 shares during the period. GSA Capital Partners LLP raised its stake in TTM Technologies by 135.0% in the first quarter. GSA Capital Partners LLP now owns 63,681 shares of the technology company’s stock valued at $997,000 after buying an additional 36,582 shares during the period. Larson Financial Group LLC bought a new stake in TTM Technologies in the first quarter valued at approximately $266,000. Finally, Texas Permanent School Fund Corp raised its stake in TTM Technologies by 8.2% in the first quarter. Texas Permanent School Fund Corp now owns 89,484 shares of the technology company’s stock valued at $1,400,000 after buying an additional 6,776 shares during the period. 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.