Truist Financial Forecasts Strong Price Appreciation for TTM Technologies (NASDAQ:TTMI) Stock

TTM Technologies (NASDAQ:TTMI) had its target price hoisted by stock analysts at Truist Financial from $36.00 to $41.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective would indicate a potential upside of 13.29% from the stock’s previous close.

TTMI has been the subject of a number of other reports. B. Riley increased their price objective on TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Needham & Company LLC upped their price target on TTM Technologies from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus began coverage on TTM Technologies in a research note on Tuesday, February 11th. They issued a “buy” rating and a $33.00 price target for the company.

TTM Technologies Stock Up 1.4%

Shares of TTMI opened at $36.19 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 67.02 and a beta of 1.37. TTM Technologies has a 52 week low of $15.77 and a 52 week high of $36.27. The stock has a fifty day moving average of $24.96 and a 200-day moving average of $24.54.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping 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 business had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. During the same period last year, the company earned $0.28 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

TTM Technologies announced that its board has approved a share buyback plan on Friday, May 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at TTM Technologies

In related news, EVP Douglas L. Soder sold 24,972 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total transaction of $749,160.00. Following the sale, the executive vice president now owns 173,026 shares in the company, valued at $5,190,780. This represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dale Martin Knecht sold 1,140 shares of TTM Technologies stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $34.00, for a total value of $38,760.00. Following the completion of the sale, the senior vice president now owns 75,206 shares of the company’s stock, valued at approximately $2,557,004. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,944 shares of company stock worth $2,235,071 over the last three months. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On TTM Technologies

Several institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its stake in shares of 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 during the period. Quarry LP boosted its holdings in TTM Technologies by 249.9% in the first quarter. Quarry LP now owns 2,110 shares of the technology company’s stock worth $43,000 after acquiring an additional 1,507 shares in the last quarter. USA Financial Formulas boosted its holdings in TTM Technologies by 119.1% in the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,216 shares in the last quarter. Sterling Capital Management LLC grew its stake in TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company’s stock valued at $79,000 after acquiring an additional 2,831 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of TTM Technologies during the fourth quarter valued at approximately $83,000. Institutional investors and hedge funds 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.