TTM Technologies (NASDAQ:TTMI) Price Target Raised to $33.00 at Needham & Company LLC

TTM Technologies (NASDAQ:TTMI - Free Report) had its price target hoisted by Needham & Company LLC from $30.00 to $33.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

TTM Technologies Stock Performance

TTMI stock traded down $0.28 during trading on Thursday, reaching $25.48. 556,206 shares of the stock were exchanged, compared to its average volume of 715,430. TTM Technologies has a twelve month low of $13.43 and a twelve month high of $30.41. The company has a current ratio of 1.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2.60 billion, a P/E ratio of 47.18 and a beta of 1.19. The stock has a 50 day simple moving average of $25.12 and a 200-day simple moving average of $21.85.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. As a group, sell-side analysts anticipate that TTM Technologies will post 1.74 earnings per share for the current year.

Insider Activity

In other TTM Technologies news, EVP Shawn A. Powers sold 6,400 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $23.74, for a total value of $151,936.00. Following the sale, the executive vice president now directly owns 95,341 shares in the company, valued at $2,263,395.34. This represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeff Jankowsky sold 5,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $24.23, for a total value of $121,150.00. Following the transaction, the insider now owns 55,273 shares of the company's stock, valued at $1,339,264.79. This represents a 8.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,261 shares of company stock worth $1,043,417. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On TTM Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTMI. Massachusetts Financial Services Co. MA acquired a new position in shares of TTM Technologies in the 3rd quarter worth approximately $18,600,000. Point72 Hong Kong Ltd acquired a new position in TTM Technologies in the third quarter worth $15,314,000. Victory Capital Management Inc. grew its holdings in shares of TTM Technologies by 391.6% during the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock worth $24,268,000 after purchasing an additional 781,058 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of TTM Technologies during the third quarter worth $13,693,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of TTM Technologies in the third quarter valued at $10,120,000. 95.79% of the stock is currently 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.