TTM Technologies (NASDAQ:TTMI) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of TTM Technologies (NASDAQ:TTMI) in a research note published on Thursday, Benzinga reports. They currently have a $19.00 price target on the technology company’s stock.

Separately, Stifel Nicolaus upgraded TTM Technologies from a hold rating to a buy rating and upped their target price for the stock from $15.00 to $19.00 in a research note on Thursday. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, TTM Technologies currently has an average rating of Buy and an average price target of $18.17.

TTM Technologies Price Performance

TTMI stock traded up $0.66 during mid-day trading on Thursday, reaching $17.31. 1,138,245 shares of the company traded hands, compared to its average volume of 516,757. The company has a fifty day moving average price of $14.81 and a 200-day moving average price of $14.61. TTM Technologies has a 52-week low of $11.14 and a 52-week high of $17.32. The company has a market capitalization of $1.76 billion, a P/E ratio of -865.50 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.09 and a quick ratio of 1.73.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. The business had revenue of $569.04 million for the quarter, compared to analyst estimates of $572.03 million. During the same quarter in the prior year, the firm posted $0.36 EPS. TTM Technologies’s revenue was down 7.8% on a year-over-year basis. As a group, analysts anticipate that TTM Technologies will post 1.28 earnings per share for the current year.

Insider Transactions at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $16.48, for a total transaction of $57,680.00. Following the sale, the insider now owns 52,264 shares in the company, valued at $861,310.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of TTM Technologies by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,299,477 shares of the technology company’s stock valued at $131,216,000 after purchasing an additional 121,498 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of TTM Technologies by 5.2% during the fourth 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 last quarter. Invesco Ltd. raised its position 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 buying an additional 39,445 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in TTM Technologies by 58.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,425,000 shares of the technology company’s stock valued at $18,354,000 after acquiring an additional 525,000 shares during the period. Finally, Wellington Management Group LLP purchased a new position 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.

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.