Needham Investment Management LLC Reduces Position in TTM Technologies, Inc. $TTMI

Key Points

• Needham Investment Management reduced its stake in TTM Technologies by 14.8% in the fourth quarter, selling 32,250 shares and leaving it with 185,250 shares worth about $12.8 million.
• TTM Technologies reported better-than-expected quarterly results, with EPS of $0.75 versus $0.66 expected and revenue of $845.98 million versus $789.84 million expected, alongside 30.4% year-over-year revenue growth.
• Analyst sentiment remains mostly positive: several firms raised price targets, and the stock has an average Buy rating with a consensus price target of $209.00, despite one downgrade to Hold.

Needham Investment Management LLC cut its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,250 shares of the technology company's stock after selling 32,250 shares during the quarter. Needham Investment Management LLC owned approximately 0.18% of TTM Technologies worth $12,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of TTM Technologies by 0.5% during the third quarter. Vanguard Group Inc. now owns 13,156,053 shares of the technology company's stock valued at $757,789,000 after buying an additional 60,002 shares during the period. Invesco Ltd. increased its position in shares of TTM Technologies by 127.7% during the third quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company's stock valued at $277,281,000 after buying an additional 2,699,494 shares during the period. Polar Capital Holdings Plc bought a new stake in shares of TTM Technologies during the third quarter valued at about $176,376,000. Geode Capital Management LLC increased its position in shares of TTM Technologies by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company's stock valued at $184,119,000 after buying an additional 81,588 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of TTM Technologies by 22.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,237,627 shares of the technology company's stock valued at $154,396,000 after buying an additional 406,202 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TTM Technologies

In related news, Director Thomas T. Edman sold 16,800 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $100.23, for a total value of $1,683,864.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company's stock.

TTM Technologies Stock Up 6.5%

TTMI stock opened at $206.66 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The company's 50 day moving average is $154.76 and its 200 day moving average is $111.59. The stock has a market cap of $21.46 billion, a price-to-earnings ratio of 111.71 and a beta of 2.10. TTM Technologies, Inc. has a 1-year low of $35.52 and a 1-year high of $209.08.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $845.98 million for the quarter, compared to analysts' expectations of $789.84 million. TTM Technologies had a net margin of 6.29% and a return on equity of 13.70%. TTM Technologies's revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. TTM Technologies has set its Q2 2026 guidance at 0.820-0.880 EPS. Sell-side analysts predict that TTM Technologies, Inc. will post 3.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut TTM Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. Truist Financial upped their price target on TTM Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of TTM Technologies in a research report on Monday, May 18th. B. Riley Financial upped their price target on TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, Stifel Nicolaus upped their price target on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat.com, TTM Technologies has an average rating of "Buy" and an average price target of $209.00.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company's product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.

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