Truist Financial Increases TTM Technologies (NASDAQ:TTMI) Price Target to $48.00

TTM Technologies (NASDAQ:TTMI - Free Report) had its price target lifted by Truist Financial from $41.00 to $48.00 in a report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the technology company's stock.

Several other analysts also recently weighed in on the company. B. Riley lifted their target price on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wall Street Zen downgraded TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Stifel Nicolaus restated a "buy" rating and set a $40.00 price target (up previously from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th. Finally, Needham & Company LLC raised their price target on TTM Technologies from $35.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, TTM Technologies currently has a consensus rating of "Buy" and an average price target of $41.75.

TTM Technologies Trading Down 0.3%

TTMI traded down $0.11 during trading on Monday, reaching $43.88. The company had a trading volume of 1,636,353 shares, compared to its average volume of 892,252. The stock has a market cap of $4.46 billion, a P/E ratio of 58.51 and a beta of 1.46. The business has a 50 day simple moving average of $33.54 and a 200-day simple moving average of $26.65. TTM Technologies has a 52 week low of $15.77 and a 52 week high of $45.00. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $648.67 million during the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. TTM Technologies's revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. On average, equities analysts anticipate that TTM Technologies will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its board has initiated a stock repurchase plan on Friday, May 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other TTM Technologies news, SVP Dale Martin Knecht sold 10,000 shares of TTM Technologies stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total value of $295,200.00. Following the transaction, the senior vice president owned 76,346 shares in the company, valued at $2,253,733.92. The trade was a 11.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 34,037 shares in the company, valued at $1,004,091.50. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,226 shares of company stock valued at $3,504,492 over the last three months. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On TTM Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Focus Partners Wealth grew its stake in shares of TTM Technologies by 1.1% during the first quarter. Focus Partners Wealth now owns 31,944 shares of the technology company's stock worth $655,000 after acquiring an additional 343 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of TTM Technologies by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock worth $139,000 after acquiring an additional 442 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of TTM Technologies by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock worth $345,000 after acquiring an additional 555 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of TTM Technologies by 0.5% during the first quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock worth $2,268,000 after acquiring an additional 567 shares during the last quarter. Finally, CWM LLC grew its stake 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 acquiring an additional 567 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.