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

TTM Technologies (NASDAQ:TTMI) had its price objective hoisted by analysts at Needham & Company LLC from $24.00 to $26.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price suggests a potential upside of 17.70% from the company’s current price.

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

TTM Technologies Trading Down 1.6 %

NASDAQ TTMI opened at $22.09 on Thursday. The company’s 50-day moving average price is $18.90 and its 200-day moving average price is $18.70. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.25 billion, a PE ratio of 33.47 and a beta of 1.25. TTM Technologies has a 12 month low of $13.43 and a 12 month high of $23.61.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. TTM Technologies had a net margin of 2.90% and a return on equity of 8.71%. The firm had revenue of $605.10 million for the quarter, compared to analysts’ expectations of $582.70 million. During the same period in the prior year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts forecast that TTM Technologies will post 1.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Dale Martin Knecht sold 20,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $17.40, for a total value of $348,000.00. Following the sale, the senior vice president now directly owns 81,392 shares in the company, valued at approximately $1,416,220.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Catherine A. Gridley sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $17.49, for a total value of $174,900.00. Following the completion of the transaction, the executive vice president now directly owns 120,296 shares of the company’s stock, valued at $2,103,977.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Dale Martin Knecht sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $17.40, for a total value of $348,000.00. Following the completion of the sale, the senior vice president now owns 81,392 shares of the company’s stock, valued at approximately $1,416,220.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,000 shares of company stock valued at $1,153,900 in the last 90 days. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its stake in shares of TTM Technologies by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 51,200 shares of the technology company’s stock valued at $995,000 after acquiring an additional 600 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of TTM Technologies by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,598 shares of the technology company’s stock worth $29,000 after buying an additional 642 shares during the period. Diversified Trust Co increased its stake in TTM Technologies by 2.6% during the 3rd quarter. Diversified Trust Co now owns 25,043 shares of the technology company’s stock worth $457,000 after buying an additional 644 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of TTM Technologies by 5.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,394 shares of the technology company’s stock valued at $244,000 after buying an additional 659 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in shares of TTM Technologies by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 53,788 shares of the technology company’s stock worth $1,045,000 after purchasing an additional 821 shares during the last quarter. Hedge funds and other 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.