TTM Technologies (NASDAQ:TTMI) Given New $43.00 Price Target at Needham & Company LLC

TTM Technologies (NASDAQ:TTMI - Get Free Report) had its target price hoisted by analysts at Needham & Company LLC from $35.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price target would indicate a potential upside of 16.31% from the company's previous close.

A number of other analysts have also weighed in on TTMI. Stifel Nicolaus reissued a "buy" rating and set a $40.00 price objective (up previously from $33.00) on shares of TTM Technologies in a research note on Monday. Truist Financial raised their price target on shares of TTM Technologies from $36.00 to $41.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, B. Riley boosted their price target on TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 1st.

TTM Technologies Stock Performance

TTM Technologies stock opened at $36.97 on Friday. TTM Technologies has a fifty-two week low of $15.77 and a fifty-two week high of $37.74. The firm's fifty day moving average price is $27.49 and its 200-day moving average price is $25.13. The stock has a market cap of $3.76 billion, a P/E ratio of 49.29 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.75 and a current ratio of 2.07.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The firm had revenue of $648.67 million during the quarter, compared to analysts' expectations of $621.44 million. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. On average, equities research analysts expect that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

TTM Technologies declared that its Board of Directors has initiated a stock repurchase program on Friday, May 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to buy up to 3.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Insider Activity

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of TTM Technologies stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $29.50, for a total value of $295,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dale Martin Knecht sold 7,662 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $34.16, for a total value of $261,733.92. Following the completion of the transaction, the senior vice president now directly owns 67,544 shares in the company, valued at $2,307,303.04. This trade represents a 10.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,944 shares of company stock worth $2,235,071 in the last quarter. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On TTM Technologies

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in TTM Technologies by 532.1% in the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after purchasing an additional 1,648,017 shares during the last quarter. Goldman Sachs Group Inc. increased its position in TTM Technologies by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock valued at $34,989,000 after acquiring an additional 115,766 shares during the last quarter. Nuveen LLC bought a new position in TTM Technologies in the first quarter valued at about $31,763,000. Massachusetts Financial Services Co. MA grew its stake in shares of TTM Technologies by 50.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after purchasing an additional 515,015 shares during the period. Finally, Emerald Advisers LLC increased its position in shares of TTM Technologies by 34.3% during the 1st quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock valued at $29,533,000 after purchasing an additional 367,798 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.

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