Truist Financial Issues Positive Forecast for TTM Technologies (NASDAQ:TTMI) Stock Price

TTM Technologies (NASDAQ:TTMI - Get Free Report) had its price objective raised by investment analysts at Truist Financial from $36.00 to $41.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Truist Financial's price objective would suggest a potential upside of 15.65% from the stock's current price.

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

TTM Technologies Stock Up 6.7%

TTM Technologies stock traded up $2.23 during mid-day trading on Monday, reaching $35.45. The stock had a trading volume of 939,296 shares, compared to its average volume of 796,530. The firm has a market capitalization of $3.60 billion, a PE ratio of 65.61 and a beta of 1.37. TTM Technologies has a fifty-two week low of $15.77 and a fifty-two week high of $35.52. The stock's 50-day simple moving average is $24.32 and its 200-day simple moving average is $24.38. 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 (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The firm had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The business's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, sell-side analysts forecast that TTM Technologies will post 1.76 EPS for the current fiscal year.

TTM Technologies announced that its Board of Directors has initiated a stock buyback program on Friday, May 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. Following the transaction, the insider now directly owns 34,037 shares of the company's stock, valued at approximately $1,004,091.50. The trade was a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dale Martin Knecht sold 1,140 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $34.00, for a total transaction 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 $2,557,004. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,282 shares of company stock worth $1,973,337 in the last quarter. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On TTM Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its position in TTM Technologies by 670.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after purchasing an additional 1,220 shares during the last quarter. Quarry LP grew its holdings in shares of TTM Technologies by 249.9% during the first quarter. Quarry LP now owns 2,110 shares of the technology company's stock valued at $43,000 after buying an additional 1,507 shares during the last quarter. USA Financial Formulas increased its position in shares of TTM Technologies by 119.1% during the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock valued at $46,000 after acquiring an additional 1,216 shares in the last quarter. Sterling Capital Management LLC raised its holdings in TTM Technologies by 808.9% in the 4th 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 during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in TTM Technologies in the 4th quarter worth approximately $83,000. 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.

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