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

Needham & Company LLC reiterated their buy rating on shares of TTM Technologies (NASDAQ:TTMI) in a report published on Friday,Benzinga reports. Needham & Company LLC currently has a $33.00 price target on the technology company’s stock.

Separately, Stifel Nicolaus initiated coverage on TTM Technologies in a research note on Tuesday, February 11th. They set a “buy” rating and a $33.00 price target on the stock.

TTM Technologies Trading Up 0.6 %

Shares of NASDAQ:TTMI opened at $22.77 on Friday. The company has a market cap of $2.31 billion, a P/E ratio of 42.17 and a beta of 1.19. The stock’s 50-day moving average is $24.44 and its 200-day moving average is $22.79. TTM Technologies has a 52-week low of $13.43 and a 52-week high of $30.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. Equities research analysts predict that TTM Technologies will post 1.76 earnings per share for the current year.

Insider Activity

In other news, EVP Daniel J. Weber sold 15,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.34, for a total value of $395,100.00. Following the completion of the transaction, the executive vice president now owns 95,153 shares in the company, valued at approximately $2,506,330.02. This represents a 13.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Philip Titterton sold 24,792 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $25.56, for a total transaction of $633,683.52. Following the completion of the transaction, the chief operating officer now owns 157,528 shares of the company’s stock, valued at approximately $4,026,415.68. This represents a 13.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,817 shares of company stock worth $1,316,006. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TTM Technologies

Hedge funds have recently made changes to their positions in the business. USA Financial Formulas acquired a new position in shares of TTM Technologies in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC grew its holdings in shares of TTM Technologies by 670.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,220 shares during the last quarter. Quarry LP bought a new stake in shares of TTM Technologies in the 3rd quarter worth about $34,000. GAMMA Investing LLC grew its holdings in shares of TTM Technologies by 27.7% in the 4th quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company’s stock worth $51,000 after purchasing an additional 443 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of TTM Technologies by 808.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company’s stock worth $79,000 after purchasing an additional 2,831 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.