Needham & Company LLC Reaffirms Buy Rating for TTM Technologies (NASDAQ:TTMI)

Needham & Company LLC reissued their buy rating on shares of TTM Technologies (NASDAQ:TTMI) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $19.00 price objective on the technology company’s stock.

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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $18.17.

TTM Technologies Price Performance

NASDAQ:TTMI opened at $17.31 on Thursday. The company has a market capitalization of $1.76 billion, a P/E ratio of -865.07 and a beta of 1.37. The business’s 50-day moving average is $14.81 and its 200 day moving average is $14.62. The company has a current ratio of 2.09, a quick ratio of 1.73 and a debt-to-equity ratio of 0.60. TTM Technologies has a 12 month low of $11.14 and a 12 month high of $17.32.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $569.04 million for the quarter, compared to analysts’ expectations of $572.03 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. TTM Technologies’s quarterly revenue was down 7.8% on a year-over-year basis. On average, equities research analysts forecast that TTM Technologies will post 1.28 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

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

Institutional Investors Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC purchased a new stake in shares of TTM Technologies during the 1st quarter valued at $266,000. GSA Capital Partners LLP grew its stake in shares of TTM Technologies by 135.0% during the first quarter. GSA Capital Partners LLP now owns 63,681 shares of the technology company’s stock worth $997,000 after acquiring an additional 36,582 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of TTM Technologies by 61.3% in the 1st quarter. BNP Paribas Financial Markets now owns 107,322 shares of the technology company’s stock valued at $1,680,000 after purchasing an additional 40,784 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in TTM Technologies by 2,130.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,069 shares of the technology company’s stock worth $392,000 after purchasing an additional 23,945 shares in the last quarter. Finally, Wesbanco Bank Inc. acquired a new position in TTM Technologies during the 1st quarter valued at approximately $1,006,000. 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.