TTM Technologies (NASDAQ:TTMI) Price Target Raised to $36.00

TTM Technologies (NASDAQ:TTMI) had its target price hoisted by B. Riley from $35.00 to $36.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts also recently commented on the company. Stifel Nicolaus started coverage on TTM Technologies in a report on Tuesday, February 11th. They set a “buy” rating and a $33.00 target price for the company. Needham & Company LLC raised their target price on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday.

TTM Technologies Price Performance

Shares of NASDAQ TTMI opened at $25.03 on Thursday. The firm has a 50-day moving average of $20.95 and a two-hundred day moving average of $23.15. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 46.35 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. TTM Technologies has a twelve month low of $15.77 and a twelve month high of $30.41.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The firm had revenue of $648.67 million during the quarter, compared to analysts’ expectations of $621.44 million. During the same period last year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts expect that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In other TTM Technologies news, COO Philip Titterton sold 24,792 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel J. Weber sold 15,000 shares of TTM Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.34, for a total value of $395,100.00. Following the sale, the executive vice president now directly owns 95,153 shares of the company’s stock, valued at approximately $2,506,330.02. The trade was a 13.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,817 shares of company stock valued at $1,316,006. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of TTM Technologies by 391.6% in the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock worth $24,268,000 after buying an additional 781,058 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of TTM Technologies by 5.0% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 582,525 shares of the technology company’s stock valued at $14,417,000 after acquiring an additional 27,980 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of TTM Technologies by 33.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,122 shares of the technology company’s stock worth $993,000 after acquiring an additional 9,980 shares during the last quarter. Principal Financial Group Inc. raised its stake in TTM Technologies by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 494,446 shares of the technology company’s stock valued at $12,238,000 after purchasing an additional 13,918 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in TTM Technologies in the 4th quarter worth $512,000. 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.