TTM Technologies (NASDAQ:TTMI) Given New $41.00 Price Target at Truist Financial

TTM Technologies (NASDAQ:TTMI - Free Report) had its price target raised by Truist Financial from $36.00 to $41.00 in a report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the technology company's stock.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus began coverage on shares of TTM Technologies in a research report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 price target on the stock. B. Riley raised their price target on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC raised their price target 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.

TTM Technologies Stock Down 0.4%

TTMI stock traded down $0.16 during mid-day trading on Monday, hitting $36.42. 1,640,927 shares of the company were exchanged, compared to its average volume of 816,280. The company has a market capitalization of $3.70 billion, a PE ratio of 67.44 and a beta of 1.37. 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 $37.17. The firm has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $24.71.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced 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 company had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. On average, research analysts forecast that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

TTM Technologies announced that its Board of Directors has authorized a stock 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 purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at TTM Technologies

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

Hedge Funds Weigh In On TTM Technologies

Several large investors have recently bought and sold shares of the stock. Focus Partners Wealth increased its stake in TTM Technologies by 1.1% during the 1st quarter. Focus Partners Wealth now owns 31,944 shares of the technology company's stock valued at $655,000 after buying an additional 343 shares during the period. Quadrant Capital Group LLC increased its stake in TTM Technologies by 8.5% during the 4th quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock valued at $139,000 after buying an additional 442 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in TTM Technologies by 4.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock valued at $345,000 after buying an additional 555 shares during the period. New York State Teachers Retirement System increased its stake in TTM Technologies by 0.5% during the 1st quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock valued at $2,268,000 after buying an additional 567 shares during the period. Finally, CWM LLC increased its stake in TTM Technologies by 14.4% during the 1st quarter. CWM LLC now owns 4,501 shares of the technology company's stock valued at $92,000 after buying an additional 567 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.