TTM Technologies (NASDAQ:TTMI) Receives “Buy” Rating from Needham & Company LLC

TTM Technologies (NASDAQ:TTMI)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $33.00 target price on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 44.93% from the stock’s previous close.

Separately, Stifel Nicolaus started coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They set a “buy” rating and a $33.00 price target on the stock.

TTM Technologies Stock Up 0.6 %

TTMI stock opened at $22.77 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The firm has a market cap of $2.31 billion, a PE ratio of 42.17 and a beta of 1.19. TTM Technologies has a 12 month low of $13.43 and a 12 month high of $30.41. The firm has a 50 day simple moving average of $24.44 and a 200 day simple moving average of $22.82.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. Equities research analysts forecast that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TTM Technologies news, SVP Dale Martin Knecht sold 3,848 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.01, for a total value of $100,086.48. Following the transaction, the senior vice president now owns 86,346 shares in the company, valued at approximately $2,245,859.46. This represents a 4.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Philip Titterton sold 24,792 shares of TTM Technologies stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $25.56, for a total transaction of $633,683.52. Following the sale, the chief operating officer now directly owns 157,528 shares of the company’s stock, valued at $4,026,415.68. This trade represents a 13.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,817 shares of company stock valued at $1,316,006. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC raised its stake in shares of TTM Technologies by 75.6% during the 3rd quarter. Jane Street Group LLC now owns 231,208 shares of the technology company’s stock worth $4,220,000 after purchasing an additional 99,512 shares in the last quarter. Natixis Advisors LLC raised its position in TTM Technologies by 131.7% during the third quarter. Natixis Advisors LLC now owns 80,631 shares of the technology company’s stock valued at $1,471,000 after acquiring an additional 45,835 shares in the last quarter. Victory Capital Management Inc. raised its position in TTM Technologies by 391.6% during the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock valued at $24,268,000 after acquiring an additional 781,058 shares in the last quarter. Quantbot Technologies LP acquired a new stake in TTM Technologies in the third quarter valued at approximately $847,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of TTM Technologies by 33.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 40,122 shares of the technology company’s stock worth $993,000 after purchasing an additional 9,980 shares during the last quarter. Hedge funds and other 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.