TTM Technologies (NASDAQ:TTMI) Price Target Raised to $35.00

TTM Technologies (NASDAQ:TTMI) had its price target increased by equities research analysts at Needham & Company LLC from $33.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 39.83% from the stock’s current price.

Separately, Stifel Nicolaus assumed coverage on TTM Technologies in a research note on Tuesday, February 11th. They issued a “buy” rating and a $33.00 target price on the stock.

TTM Technologies Trading Up 7.2 %

Shares of TTM Technologies stock opened at $25.03 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $20.95 and a 200 day simple moving average of $23.13. TTM Technologies has a 12-month low of $15.77 and a 12-month high of $30.41. The company has a market capitalization of $2.54 billion, a P/E ratio of 46.35 and a beta of 1.17.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The company had revenue of $648.67 million during the quarter, compared to the consensus estimate of $621.44 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In related news, COO Philip Titterton sold 24,792 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total value of $633,683.52. Following the transaction, the chief operating officer now owns 157,528 shares in the company, valued at approximately $4,026,415.68. This represents a 13.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel J. Weber sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.34, for a total value of $395,100.00. Following the completion of the sale, the executive vice president now directly owns 95,153 shares of the company’s stock, valued at $2,506,330.02. This represents a 13.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,817 shares of company stock worth $1,316,006. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. USA Financial Formulas bought a new position in TTM Technologies during the fourth quarter worth about $25,000. Smartleaf Asset Management LLC grew its stake in TTM Technologies by 670.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock valued at $35,000 after buying an additional 1,220 shares in the last quarter. GAMMA Investing LLC raised its holdings in TTM Technologies by 27.7% during the 4th quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company’s stock valued at $51,000 after acquiring an additional 443 shares during the period. Sterling Capital Management LLC lifted its position in shares of TTM Technologies by 808.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company’s stock worth $79,000 after acquiring an additional 2,831 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of TTM Technologies in the fourth quarter worth $83,000. 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.