Needham & Company LLC Issues Positive Forecast for TTM Technologies (NASDAQ:TTMI) Stock Price

TTM Technologies (NASDAQ:TTMI - Get Free Report) had its price objective upped by research analysts at Needham & Company LLC from $24.00 to $26.00 in a report issued on Thursday, 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 15.86% from the company's current price.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus boosted their target price on TTM Technologies from $19.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Truist Financial reissued a "buy" rating and set a $24.00 price target (up from $22.00) on shares of TTM Technologies in a research report on Thursday, August 1st. Finally, B. Riley boosted their price target on TTM Technologies from $25.50 to $27.25 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $25.31.

TTM Technologies Trading Up 13.8 %

Shares of NASDAQ:TTMI traded up $2.72 during trading on Thursday, reaching $22.44. 1,636,149 shares of the stock were exchanged, compared to its average volume of 763,529. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.74 and a current ratio of 2.04. TTM Technologies has a 12-month low of $11.38 and a 12-month high of $23.61. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -1,122.00 and a beta of 1.25. The firm's 50-day moving average price is $18.86 and its 200 day moving average price is $18.64.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.05. TTM Technologies had a return on equity of 9.01% and a net margin of 0.74%. The business had revenue of $605.10 million during the quarter, compared to analysts' expectations of $582.70 million. During the same quarter in the previous year, the business earned $0.28 EPS. The company's revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that TTM Technologies will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, SVP Dale Martin Knecht sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $17.40, for a total value of $348,000.00. Following the transaction, the senior vice president now directly owns 81,392 shares of the company's stock, valued at $1,416,220.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Dale Martin Knecht sold 20,000 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $17.40, for a total value of $348,000.00. Following the completion of the sale, the senior vice president now directly owns 81,392 shares in the company, valued at approximately $1,416,220.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shawn A. Powers sold 7,000 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total value of $143,500.00. Following the completion of the sale, the executive vice president now owns 101,741 shares of the company's stock, valued at $2,085,690.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,000 shares of company stock valued at $1,153,900 in the last three months. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On TTM Technologies

Institutional investors have recently made changes to their positions in the company. Emerald Advisers LLC bought a new position in TTM Technologies during the 3rd quarter worth $13,693,000. Emerald Mutual Fund Advisers Trust bought a new position in TTM Technologies during the 3rd quarter worth $10,120,000. Wealth Enhancement Advisory Services LLC grew its stake in TTM Technologies by 5.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,394 shares of the technology company's stock worth $244,000 after buying an additional 659 shares during the last quarter. nVerses Capital LLC bought a new position in TTM Technologies during the 3rd quarter worth $148,000. Finally, Creative Planning grew its stake in TTM Technologies by 20.1% during the 3rd quarter. Creative Planning now owns 20,409 shares of the technology company's stock worth $372,000 after buying an additional 3,420 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

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.