TTM Technologies (NASDAQ:TTMI) PT Raised to $24.00 at Stifel Nicolaus

TTM Technologies (NASDAQ:TTMI) had its price target raised by Stifel Nicolaus from $19.00 to $24.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. B. Riley boosted their price target on TTM Technologies from $20.75 to $25.50 and gave the stock a buy rating in a research report on Thursday, July 18th. Needham & Company LLC boosted their price target on TTM Technologies from $19.00 to $21.00 and gave the stock a buy rating in a research report on Monday, June 17th. 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 report on Thursday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $24.31.

TTM Technologies Stock Performance

TTM Technologies stock opened at $18.31 on Thursday. The stock’s 50 day simple moving average is $19.72 and its two-hundred day simple moving average is $16.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.77 and a current ratio of 2.04. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -915.04 and a beta of 1.25. TTM Technologies has a fifty-two week low of $11.14 and a fifty-two week high of $22.70.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.05. The business 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 9.01% and a net margin of 0.74%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. As a group, analysts expect that TTM Technologies will post 1.29 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In related news, VP Tony Sanchez sold 6,940 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $19.00, for a total value of $131,860.00. Following the transaction, the vice president now directly owns 21,502 shares of the company’s stock, valued at approximately $408,538. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TTM Technologies news, insider Douglas L. Soder sold 25,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $18.01, for a total transaction of $450,250.00. Following the completion of the sale, the insider now directly owns 239,574 shares in the company, valued at approximately $4,314,727.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Tony Sanchez sold 6,940 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $19.00, for a total transaction of $131,860.00. Following the sale, the vice president now owns 21,502 shares of the company’s stock, valued at $408,538. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,038 shares of company stock valued at $1,924,515. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TTM Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TTMI. Vanguard Group Inc. boosted its holdings in TTM Technologies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 13,610,120 shares of the technology company’s stock worth $212,998,000 after buying an additional 63,073 shares during the period. Dimensional Fund Advisors LP boosted its holdings in TTM Technologies by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,299,477 shares of the technology company’s stock worth $131,216,000 after buying an additional 121,498 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in TTM Technologies by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,941,612 shares of the technology company’s stock worth $30,697,000 after buying an additional 96,265 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of TTM Technologies by 4.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 934,498 shares of the technology company’s stock valued at $14,774,000 after purchasing an additional 40,111 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 valued at $16,774,000 after purchasing an additional 12,789 shares during the last quarter. 95.79% of the stock is currently 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.