TTM Technologies' (TTMI) Buy Rating Reaffirmed at Needham & Company LLC

TTM Technologies (NASDAQ:TTMI - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $33.00 target price on the technology company's stock. Needham & Company LLC's price objective indicates a potential upside of 41.87% from the company's previous close.

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

TTM Technologies Stock Performance

Shares of TTMI stock traded up $0.49 on Friday, hitting $23.26. 127,819 shares of the stock traded hands, compared to its average volume of 730,087. The company's fifty day moving average is $24.44 and its 200 day moving average is $22.85. TTM Technologies has a 1-year low of $13.43 and a 1-year high of $30.41. The company has a market capitalization of $2.36 billion, a PE ratio of 43.07 and a beta of 1.19. 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 issued its earnings results on Wednesday, February 5th. The technology company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates 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, equities research analysts predict that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

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Insider Activity at TTM Technologies

In other news, SVP Dale Martin Knecht sold 3,848 shares of TTM Technologies stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.01, for a total transaction of $100,086.48. Following the sale, the senior vice president now owns 86,346 shares of the company's stock, valued at approximately $2,245,859.46. The trade was a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Philip Titterton sold 24,792 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total value 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 $4,026,415.68. This trade represents a 13.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,817 shares of company stock worth $1,316,006 in the last ninety days. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TTMI. USA Financial Formulas bought a new position in TTM Technologies in the 4th quarter valued at about $25,000. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 1,220 shares in the last quarter. Quarry LP acquired a new position in shares of TTM Technologies during the third quarter valued at approximately $34,000. GAMMA Investing LLC raised its holdings in TTM Technologies by 27.7% during the fourth quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company's stock worth $51,000 after purchasing an additional 443 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in TTM Technologies by 808.9% in the fourth 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 period. 95.79% of the stock is owned by institutional investors and hedge funds.

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.