Needham & Company LLC Forecasts Strong Price Appreciation for TTM Technologies (NASDAQ:TTMI) Stock

TTM Technologies (NASDAQ:TTMI) had its price target increased by equities researchers at Needham & Company LLC from $30.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 28.16% from the stock’s previous close.

TTM Technologies Price Performance

NASDAQ:TTMI opened at $25.75 on Thursday. TTM Technologies has a 52 week low of $13.43 and a 52 week high of $30.41. The stock’s fifty day moving average is $25.12 and its two-hundred day moving average is $21.85. The company has a market capitalization of $2.63 billion, a P/E ratio of 39.02 and a beta of 1.19. The company has a quick ratio of 1.70, a current ratio of 2.00 and a debt-to-equity ratio of 0.59.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. TTM Technologies had a net margin of 2.90% and a return on equity of 8.67%. Equities analysts expect that TTM Technologies will post 1.36 EPS for the current year.

Insider Activity at TTM Technologies

In other TTM Technologies news, insider Jeff Jankowsky sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $24.23, for a total value of $121,150.00. Following the completion of the transaction, the insider now owns 55,273 shares of the company’s stock, valued at $1,339,264.79. This trade represents a 8.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Douglas L. Soder sold 19,015 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $25.00, for a total value of $475,375.00. Following the sale, the executive vice president now directly owns 185,478 shares in the company, valued at $4,636,950. This represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,261 shares of company stock worth $1,043,417. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC raised its position in TTM Technologies by 75.6% in the 3rd quarter. Jane Street Group LLC now owns 231,208 shares of the technology company’s stock valued at $4,220,000 after purchasing an additional 99,512 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of TTM Technologies by 131.7% during the third quarter. Natixis Advisors LLC now owns 80,631 shares of the technology company’s stock worth $1,471,000 after buying an additional 45,835 shares during the period. Quantbot Technologies LP acquired a new stake in TTM Technologies in the third quarter valued at approximately $847,000. Geode Capital Management LLC lifted its stake in TTM Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,437,400 shares of the technology company’s stock worth $44,491,000 after acquiring an additional 30,738 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in TTM Technologies by 26.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 231,281 shares of the technology company’s stock worth $4,221,000 after acquiring an additional 48,346 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

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.