TTM Technologies (NASDAQ:TTMI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

TTM Technologies (NASDAQ:TTMI - Get Free Report) had its price target lifted by investment analysts at Needham & Company LLC from $33.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective points to a potential upside of 39.87% from the stock's previous close.

Separately, Stifel Nicolaus began coverage on TTM Technologies in a research report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 price target on the stock.

TTM Technologies Stock Up 0.5 %

TTMI traded up $0.11 during trading on Thursday, reaching $25.02. 315,917 shares of the stock traded hands, compared to its average volume of 761,139. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. TTM Technologies has a fifty-two week low of $15.77 and a fifty-two week high of $30.41. The stock's 50-day simple moving average is $20.95 and its two-hundred day simple moving average is $23.20. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 46.31 and a beta of 1.20.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The business had revenue of $648.67 million during the quarter, compared to analysts' expectations of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. As a group, equities research analysts expect that TTM Technologies will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Daniel J. Weber sold 15,000 shares of the business's 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 sale, the executive vice president now owns 95,153 shares in the company, valued at approximately $2,506,330.02. The trade was a 13.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Philip Titterton sold 24,792 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total transaction of $633,683.52. Following the sale, the chief operating officer now owns 157,528 shares of the company's stock, valued at $4,026,415.68. This trade represents a 13.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,628 shares of company stock worth $1,311,482 over the last quarter. Company insiders own 1.30% of the company's stock.

Institutional Trading of TTM Technologies

Several hedge funds have recently modified their holdings of TTMI. USA Financial Formulas bought a new stake in TTM Technologies during the 4th quarter worth approximately $25,000. Smartleaf Asset Management LLC increased its stake in shares of TTM Technologies by 670.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after buying an additional 1,220 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of TTM Technologies by 27.7% in the fourth quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company's stock valued at $51,000 after buying an additional 443 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock valued at $79,000 after buying an additional 2,831 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in TTM Technologies during the 4th quarter worth about $83,000. 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.