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

TTM Technologies (NASDAQ:TTMI)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They currently have a $19.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 28.64% from the stock’s previous close.

Separately, Stifel Nicolaus upgraded TTM Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $19.00 in a report on Thursday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, TTM Technologies has a consensus rating of “Buy” and a consensus target price of $18.17.

TTM Technologies Stock Performance

NASDAQ TTMI opened at $14.77 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.03 and a quick ratio of 1.73. TTM Technologies has a 1-year low of $11.13 and a 1-year high of $16.53. The business has a 50 day simple moving average of $14.76 and a two-hundred day simple moving average of $14.56. The stock has a market capitalization of $1.50 billion, a PE ratio of -82.05 and a beta of 1.37.

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

Insider Buying and Selling

In related news, insider Tom Clapprood sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $16.48, for a total transaction of $57,680.00. Following the completion of the sale, the insider now directly owns 52,264 shares of the company’s stock, valued at approximately $861,310.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of TTM Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of TTM Technologies by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,299,477 shares of the technology company’s stock worth $131,216,000 after purchasing an additional 121,498 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in TTM Technologies by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,941,612 shares of the technology company’s stock valued at $30,697,000 after buying an additional 96,265 shares during the period. Invesco Ltd. grew its stake in TTM Technologies by 2.7% in the 3rd quarter. Invesco Ltd. now owns 1,478,467 shares of the technology company’s stock worth $19,043,000 after acquiring an additional 39,445 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of TTM Technologies by 58.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,425,000 shares of the technology company’s stock worth $18,354,000 after acquiring an additional 525,000 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of TTM Technologies during the third quarter valued at approximately $13,051,000. 95.79% of the stock is currently owned by institutional investors.

About TTM Technologies

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.