TTM Technologies (NASDAQ:TTMI) Given New $175.00 Price Target at Needham & Company LLC

TTM Technologies (NASDAQ:TTMI) had its target price lowered by Needham & Company LLC from $220.00 to $175.00 in a research note published on Monday morning, Marketbeat.com reports. The firm currently has a buy rating on the technology company’s stock.

TTMI has been the topic of several other research reports. B. Riley Financial boosted their price target on TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Truist Financial raised their price objective on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings cut TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Stifel Nicolaus boosted their target price on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Zacks Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, TTM Technologies currently has a consensus rating of “Buy” and an average price target of $203.00.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI opened at $124.02 on Monday. The firm has a 50 day moving average of $125.16 and a 200-day moving average of $139.03. TTM Technologies has a 12 month low of $51.09 and a 12 month high of $223.83. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $13.07 billion, a PE ratio of 55.86 and a beta of 2.15.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. During the same period last year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 37.4% compared to the same quarter last year. On average, equities research analysts predict that TTM Technologies will post 4.26 EPS for the current fiscal year.

Insider Activity

In related news, CAO Elizabeth Romo sold 720 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $208.92, for a total value of $150,422.40. Following the sale, the chief accounting officer owned 13,492 shares of the company’s stock, valued at $2,818,748.64. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniel L. Boehle sold 4,218 shares of TTM Technologies stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $881,308.92. Following the transaction, the chief financial officer directly owned 75,055 shares in the company, valued at $15,681,991.70. The trade was a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 50,018 shares of company stock valued at $8,697,039. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TTM Technologies

A number of hedge funds have recently made changes to their positions in TTMI. BlackRock Inc. bought a new stake in TTM Technologies during the second quarter valued at $2,053,347,000. Castle Hook Partners LP bought a new position in shares of TTM Technologies in the 4th quarter worth about $133,351,000. Atalan Capital Partners LP bought a new position in shares of TTM Technologies in the 2nd quarter worth about $189,234,000. Wellington Management Group LLP raised its position in shares of TTM Technologies by 61.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock worth $424,237,000 after acquiring an additional 867,255 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of TTM Technologies in the 2nd quarter valued at about $114,470,000. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Company Profile

TTM Technologies, Inc (NASDAQ: TTMI) is a global manufacturer of technology solutions for electronic devices and systems. The company primarily produces printed circuit boards (PCBs), including high-density interconnect, flexible and rigid-flex boards, radio-frequency and microwave circuits, and other advanced PCB technologies.

TTM also provides engineering, prototype development, testing and assembly services that support the design and production of electronic products. Its solutions are used in aerospace and defense, data center computing, automotive, medical, industrial, instrumentation and other communications-related applications.

The company serves customers through manufacturing and engineering operations in North America and Asia.