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

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

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

TTM Technologies Stock Up 4.0 %

NASDAQ TTMI opened at $17.31 on Thursday. The business’s fifty day moving average price is $14.81 and its 200-day moving average price is $14.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.09 and a quick ratio of 1.77. TTM Technologies has a 1-year low of $11.14 and a 1-year high of $17.32.

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

Insider Buying and Selling

In related news, insider Tom Clapprood sold 3,500 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $16.48, for a total value of $57,680.00. Following the transaction, 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 legal filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On TTM Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of TTMI. SG Americas Securities LLC bought a new stake in TTM Technologies during the third quarter valued at about $408,000. Robeco Institutional Asset Management B.V. grew its position in shares of TTM Technologies by 207.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 16,201 shares of the technology company’s stock valued at $209,000 after purchasing an additional 10,932 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of TTM Technologies during the third quarter valued at about $773,000. Strs Ohio grew its position in shares of TTM Technologies by 3.8% during the third quarter. Strs Ohio now owns 59,500 shares of the technology company’s stock valued at $766,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Inspire Investing LLC grew its position in shares of TTM Technologies by 5.1% during the third quarter. Inspire Investing LLC now owns 23,697 shares of the technology company’s stock valued at $305,000 after purchasing an additional 1,150 shares in the last quarter. 95.79% of the stock is 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.