Needham & Company LLC Raises TTM Technologies (NASDAQ:TTMI) Price Target to $35.00

TTM Technologies (NASDAQ:TTMI - Get Free Report) had its price target raised by research 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 target price would indicate a potential upside of 39.83% from the stock's current price.

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

TTM Technologies Trading Up 7.2 %

Shares of TTMI traded up $1.68 during mid-day trading on Thursday, reaching $25.03. The stock had a trading volume of 1,221,994 shares, compared to its average volume of 762,495. TTM Technologies has a 52-week low of $15.77 and a 52-week high of $30.41. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 46.35 and a beta of 1.20. The business's fifty day moving average is $20.95 and its 200 day moving average is $23.15. 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 (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share 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 net margin of 2.30% and a return on equity of 9.74%. The business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. On average, sell-side analysts predict that TTM Technologies will post 1.76 EPS for the current fiscal year.

Insider Transactions at TTM Technologies

In related news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Catherine A. Gridley sold 6,000 shares of TTM Technologies stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $26.25, for a total value of $157,500.00. Following the completion of the transaction, the executive vice president now directly owns 125,206 shares of the company's stock, valued at approximately $3,286,657.50. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,817 shares of company stock worth $1,316,006. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TTM Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTMI. Quadrant Capital Group LLC raised its stake in shares of TTM Technologies by 8.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock valued at $139,000 after acquiring an additional 442 shares in the last quarter. GAMMA Investing LLC raised its position in TTM Technologies by 27.7% in the 4th quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company's stock valued at $51,000 after purchasing an additional 443 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of TTM Technologies by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock valued at $345,000 after buying an additional 555 shares during the period. New York State Teachers Retirement System grew its position in shares of TTM Technologies by 0.5% during the first quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock worth $2,268,000 after buying an additional 567 shares in the last quarter. Finally, CWM LLC increased its stake in shares of TTM Technologies by 14.4% during the first quarter. CWM LLC now owns 4,501 shares of the technology company's stock worth $92,000 after buying an additional 567 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Company Profile

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.