Needham & Company LLC Raises TTM Technologies (NASDAQ:TTMI) Price Target to $22.00

TTM Technologies (NASDAQ:TTMI) had its target price increased by Needham & Company LLC from $21.00 to $22.00 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 subject of several other reports. Truist Financial reiterated 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. B. Riley lifted their target price on shares of TTM Technologies from $25.50 to $27.25 and gave the company a buy rating in a report on Thursday. Finally, Stifel Nicolaus upped their price target on TTM Technologies from $19.00 to $24.00 and gave the stock a buy rating in a research note on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and an average target price of $24.31.

TTM Technologies Trading Down 5.6 %

TTMI stock traded down $1.10 during trading on Thursday, reaching $18.44. The company had a trading volume of 453,319 shares, compared to its average volume of 762,027. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.09 and a quick ratio of 1.77. TTM Technologies has a 52 week low of $11.14 and a 52 week high of $22.70. The business has a 50 day moving average of $19.73 and a 200 day moving average of $16.86. The company has a market cap of $1.88 billion, a P/E ratio of -920.04 and a beta of 1.25.

TTM Technologies (NASDAQ:TTMI) last released its 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 during the quarter, compared to analysts’ expectations of $582.70 million. TTM Technologies had a return on equity of 9.04% and a net margin of 0.74%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. As a group, sell-side analysts forecast that TTM Technologies will post 1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In other news, insider Douglas L. Soder sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $18.01, for a total transaction of $450,250.00. Following the transaction, the insider now directly owns 239,574 shares of the company’s stock, valued at $4,314,727.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Douglas L. Soder sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $18.01, for a total value of $450,250.00. Following the sale, the insider now owns 239,574 shares in the company, valued at $4,314,727.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Tony Sanchez sold 6,940 shares of TTM Technologies stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $19.00, for a total transaction of $131,860.00. Following the completion of the sale, the vice president now directly owns 21,502 shares of the company’s stock, valued at approximately $408,538. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,721 shares of company stock worth $2,339,678. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC bought a new stake in shares of TTM Technologies during the 2nd quarter valued at about $676,000. Innealta Capital LLC purchased a new position in shares of TTM Technologies in the second quarter worth approximately $64,000. Panagora Asset Management Inc. grew its position in TTM Technologies by 5.1% during the second quarter. Panagora Asset Management Inc. now owns 480,429 shares of the technology company’s stock valued at $9,335,000 after buying an additional 23,103 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in TTM Technologies by 46.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 36,648 shares of the technology company’s stock valued at $712,000 after buying an additional 11,579 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in TTM Technologies by 1.5% in the second 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 during the period. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

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.