TTM Technologies (NASDAQ:TTMI) Earns Buy Rating from Needham & Company LLC

TTM Technologies (NASDAQ:TTMI - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $33.00 target price on the technology company's stock. Needham & Company LLC's price target indicates a potential upside of 44.17% from the company's previous close.

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

TTM Technologies Stock Down 2.3 %

TTM Technologies stock traded down $0.53 during midday trading on Friday, hitting $22.89. 561,605 shares of the company were exchanged, compared to its average volume of 705,788. 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 $13.43 and a fifty-two week high of $30.41. The company's fifty day moving average price is $24.36 and its 200-day moving average price is $22.93. The company has a market cap of $2.33 billion, a PE ratio of 42.39 and a beta of 1.19.

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

Insiders Place Their Bets

In related news, EVP Daniel J. Weber sold 15,000 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.34, for a total transaction of $395,100.00. Following the transaction, the executive vice president now directly owns 95,153 shares in the company, valued at $2,506,330.02. This trade represents a 13.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Philip Titterton sold 24,792 shares of TTM Technologies stock in a transaction on Wednesday, February 12th. The stock was 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 directly 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. Insiders sold a total of 50,817 shares of company stock valued at $1,316,006 in the last ninety days. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TTMI. Geode Capital Management LLC raised its stake in TTM Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,437,400 shares of the technology company's stock worth $44,491,000 after acquiring an additional 30,738 shares during the period. Franklin Resources Inc. lifted its holdings in shares of TTM Technologies by 532.1% in the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after purchasing an additional 1,648,017 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in TTM Technologies by 50.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after purchasing an additional 515,015 shares during the period. Wellington Management Group LLP grew its stake in TTM Technologies by 1.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,394,661 shares of the technology company's stock worth $25,453,000 after buying an additional 18,027 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in TTM Technologies by 5.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,312,770 shares of the technology company's stock worth $32,491,000 after buying an additional 63,230 shares during the period. 95.79% of the stock is currently owned by institutional investors.

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.