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

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

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

TTM Technologies Stock Performance

NASDAQ:TTMI opened at $17.31 on Thursday. The company has a fifty day simple moving average of $14.81 and a two-hundred day simple moving average of $14.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.77 and a current ratio of 2.09. TTM Technologies has a 52 week low of $11.14 and a 52 week high of $17.32.

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

Insider Buying and Selling at TTM Technologies

In related news, insider Tom Clapprood sold 3,500 shares of the company’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 owns 52,264 shares of the company’s stock, valued at $861,310.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its position in TTM Technologies by 5.1% in the 3rd 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 during the last quarter. Mutual of America Capital Management LLC grew its position in TTM Technologies by 1.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 165,083 shares of the technology company’s stock worth $2,126,000 after purchasing an additional 1,810 shares in the last quarter. Diversified Trust Co increased its stake in shares of TTM Technologies by 8.8% in the fourth quarter. Diversified Trust Co now owns 22,445 shares of the technology company’s stock worth $355,000 after acquiring an additional 1,814 shares during the last quarter. Swiss National Bank increased its stake in shares of TTM Technologies by 0.9% in the third quarter. Swiss National Bank now owns 225,500 shares of the technology company’s stock worth $2,904,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Strs Ohio boosted its holdings in TTM Technologies by 3.8% in the third quarter. Strs Ohio now owns 59,500 shares of the technology company’s stock worth $766,000 after purchasing an additional 2,200 shares in the last quarter. 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.