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

TTM Technologies (NASDAQ:TTMI) had its target price boosted by Needham & Company LLC from $33.00 to $35.00 in a research report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Separately, Stifel Nicolaus began coverage on TTM Technologies in a report on Tuesday, February 11th. They issued a “buy” rating and a $33.00 target price for the company.

TTM Technologies Stock Up 7.2 %

Shares of TTM Technologies stock opened at $25.03 on Thursday. The company has a market cap of $2.54 billion, a P/E ratio of 46.35 and a beta of 1.20. The firm has a fifty day moving average of $20.95 and a two-hundred day moving average of $23.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99. TTM Technologies has a one year low of $15.77 and a one year high of $30.41.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The company had revenue of $648.67 million for the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. On average, analysts forecast that TTM Technologies will post 1.76 earnings per share for the current year.

Insider Transactions at TTM Technologies

In other TTM Technologies news, COO Philip Titterton sold 24,792 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $25.56, for a total value of $633,683.52. Following the sale, the chief operating officer now owns 157,528 shares of the company’s stock, valued at $4,026,415.68. This represents a 13.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Catherine A. Gridley sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $26.25, for a total transaction of $157,500.00. Following the transaction, the executive vice president now directly owns 125,206 shares of the company’s stock, valued at approximately $3,286,657.50. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,817 shares of company stock valued at $1,316,006 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TTM Technologies

A number of large investors have recently bought and sold shares of the stock. Bailard Inc. lifted its position in shares of TTM Technologies by 27.5% in the first quarter. Bailard Inc. now owns 21,300 shares of the technology company’s stock valued at $437,000 after acquiring an additional 4,600 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of TTM Technologies during the 1st quarter worth about $1,899,000. CWM LLC grew its holdings in shares of TTM Technologies by 14.4% during the first quarter. CWM LLC now owns 4,501 shares of the technology company’s stock worth $92,000 after buying an additional 567 shares in the last quarter. Emerald Advisers LLC raised its position in shares of TTM Technologies by 34.3% in the first quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company’s stock valued at $29,533,000 after buying an additional 367,798 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of TTM Technologies by 16.5% during the first quarter. New York State Common Retirement Fund now owns 80,989 shares of the technology company’s stock valued at $1,661,000 after buying an additional 11,500 shares during the period. Institutional investors and hedge funds 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.