TTM Technologies’ (TTMI) Buy Rating Reiterated at Needham & Company LLC

TTM Technologies (NASDAQ:TTMI)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $30.00 price target on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 20.10% from the company’s previous close.

TTM Technologies Price Performance

NASDAQ:TTMI traded up $0.23 during trading hours on Tuesday, reaching $24.98. The company had a trading volume of 165,545 shares, compared to its average volume of 397,745. The company has a quick ratio of 1.70, a current ratio of 2.00 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $24.70 and a two-hundred day moving average of $21.24. TTM Technologies has a one year low of $13.43 and a one year high of $28.00. The firm has a market capitalization of $2.55 billion, a PE ratio of 37.85 and a beta of 1.19.

Insider Activity

In related news, EVP Shawn A. Powers sold 6,400 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $23.74, for a total value of $151,936.00. Following the completion of the sale, the executive vice president now owns 95,341 shares of the company’s stock, valued at $2,263,395.34. This trade represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Catherine A. Gridley sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $25.15, for a total value of $125,750.00. Following the transaction, the executive vice president now directly owns 115,296 shares in the company, valued at approximately $2,899,694.40. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,044 shares of company stock worth $1,163,803. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

Hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of TTM Technologies during the 3rd quarter worth about $18,600,000. Point72 Hong Kong Ltd acquired a new stake in TTM Technologies in the third quarter worth $15,314,000. Emerald Advisers LLC bought a new position in shares of TTM Technologies during the third quarter worth $13,693,000. American Century Companies Inc. grew its holdings in shares of TTM Technologies by 88.8% in the 2nd quarter. American Century Companies Inc. now owns 1,479,403 shares of the technology company’s stock valued at $28,745,000 after buying an additional 695,844 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of TTM Technologies in the 3rd quarter valued at $10,120,000. 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.