Needham & Company LLC Reaffirms Buy Rating for TTM Technologies (NASDAQ:TTMI)

TTM Technologies (NASDAQ:TTMI)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $19.00 price target on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 28.64% from the company’s current price.

Separately, Stifel Nicolaus raised shares of TTM Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $15.00 to $19.00 in a research note on Thursday. Four investment 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 $18.17.

TTM Technologies Trading Down 1.1 %

TTM Technologies stock opened at $14.77 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.73 and a current ratio of 2.03. TTM Technologies has a fifty-two week low of $11.13 and a fifty-two week high of $16.53. The stock has a market cap of $1.50 billion, a P/E ratio of -82.05 and a beta of 1.37. The firm’s fifty day moving average price is $14.76 and its 200-day moving average price is $14.56.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. TTM Technologies had a positive return on equity of 7.83% and a negative net margin of 0.84%. The business had revenue of $569.04 million for the quarter, compared to analyst estimates of $572.03 million. During the same period in the prior year, the company earned $0.36 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. Equities research analysts forecast that TTM Technologies will post 1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In other news, insider Tom Clapprood sold 3,500 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $16.48, for a total value of $57,680.00. Following the completion of the transaction, the insider now directly owns 52,264 shares in the company, valued at approximately $861,310.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of TTM Technologies in the 3rd quarter worth approximately $408,000. Robeco Institutional Asset Management B.V. lifted its stake in TTM Technologies by 207.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 16,201 shares of the technology company’s stock worth $209,000 after purchasing an additional 10,932 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in TTM Technologies during the third quarter valued at about $773,000. Strs Ohio boosted its position in TTM Technologies by 3.8% during the third quarter. Strs Ohio now owns 59,500 shares of the technology company’s stock valued at $766,000 after buying an additional 2,200 shares during the period. Finally, Inspire Investing LLC grew its stake in shares of TTM Technologies by 5.1% during the third quarter. Inspire Investing LLC now owns 23,697 shares of the technology company’s stock valued at $305,000 after buying an additional 1,150 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

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.