Needham & Company LLC Reiterates "Buy" Rating for TTM Technologies (NASDAQ:TTMI)

Needham & Company LLC reissued their buy rating on shares of TTM Technologies (NASDAQ:TTMI - Free Report) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $30.00 target price on the technology company's stock.

TTM Technologies Trading Up 1.9 %

Shares of NASDAQ TTMI traded up $0.46 during midday trading on Tuesday, reaching $25.21. 493,083 shares of the stock were exchanged, compared to its average volume of 439,285. The stock has a market capitalization of $2.57 billion, a P/E ratio of 38.20 and a beta of 1.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.70 and a current ratio of 2.00. The company has a 50 day simple moving average of $24.70 and a 200 day simple moving average of $21.24. TTM Technologies has a twelve month low of $13.43 and a twelve month high of $28.00.

Insider Activity

In other TTM Technologies news, EVP Catherine A. Gridley sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $25.15, for a total transaction of $125,750.00. Following the sale, the executive vice president now directly owns 115,296 shares in the company, valued at $2,899,694.40. This represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas L. Soder sold 19,015 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $25.00, for a total transaction of $475,375.00. Following the completion of the transaction, the executive vice president now owns 185,478 shares of the company's stock, valued at approximately $4,636,950. This trade represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,044 shares of company stock valued at $1,163,803. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in TTM Technologies in the third quarter valued at $18,600,000. Point72 Hong Kong Ltd acquired a new stake in shares of TTM Technologies during the 3rd quarter worth about $15,314,000. Emerald Advisers LLC purchased a new stake in TTM Technologies during the third quarter worth approximately $13,693,000. American Century Companies Inc. boosted its holdings in TTM Technologies by 88.8% in the second quarter. American Century Companies Inc. now owns 1,479,403 shares of the technology company's stock valued at $28,745,000 after purchasing an additional 695,844 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in TTM Technologies in the third quarter valued at approximately $10,120,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.