TTM Technologies (NASDAQ:TTMI) Earns Buy Rating from Needham & Company LLC

TTM Technologies (NASDAQ:TTMI)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $33.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 44.93% from the company’s current price.

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

TTM Technologies Price Performance

Shares of TTMI stock opened at $22.77 on Friday. The firm has a market cap of $2.31 billion, a P/E ratio of 42.17 and a beta of 1.19. The firm has a fifty day moving average of $24.44 and a two-hundred day moving average of $22.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. TTM Technologies has a 1-year low of $13.43 and a 1-year high of $30.41.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.52 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%. As a group, research analysts anticipate that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Philip Titterton sold 24,792 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 in the company, valued at approximately $4,026,415.68. This represents a 13.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel J. Weber sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.34, for a total value of $395,100.00. Following the transaction, the executive vice president now owns 95,153 shares of the company’s stock, valued at $2,506,330.02. This represents a 13.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,817 shares of company stock valued at $1,316,006 over the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Large investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in TTM Technologies by 532.1% during the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company’s stock valued at $48,454,000 after purchasing an additional 1,648,017 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of TTM Technologies during the third quarter valued at approximately $18,600,000. Point72 Hong Kong Ltd acquired a new position in shares of TTM Technologies during the third quarter worth approximately $15,314,000. Victory Capital Management Inc. grew its holdings in TTM Technologies by 391.6% in the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock worth $24,268,000 after buying an additional 781,058 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in TTM Technologies in the 4th quarter valued at approximately $19,040,000. Institutional investors and hedge funds 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.