TTM Technologies, Inc. (TTMI) Rating Increased to Strong-Buy at Needham & Company LLC

TTM Technologies, Inc. (NASDAQ:TTMI) was upgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “strong-buy” rating in a report issued on Monday, August 7th, Marketbeat reports. The brokerage presently has a $22.00 price target on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 69.36% from the company’s current price.

Several other brokerages have also weighed in on TTMI. Stifel Nicolaus lowered TTM Technologies from a “buy” rating to a “hold” rating and increased their target price for the stock from $18.50 to $19.00 in a research report on Friday, July 28th. Zacks Investment Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, May 9th. BidaskClub lowered TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, TheStreet raised TTM Technologies from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. TTM Technologies currently has an average rating of “Hold” and a consensus target price of $20.13.

Shares of TTM Technologies (NASDAQ:TTMI) traded up 0.54% during trading on Monday, reaching $12.99. The company had a trading volume of 886,067 shares. TTM Technologies has a 12 month low of $10.04 and a 12 month high of $19.54. The firm’s 50 day moving average price is $16.54 and its 200 day moving average price is $16.51. The firm has a market capitalization of $1.32 billion, a P/E ratio of 18.17 and a beta of 1.46.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.04. The firm had revenue of $627.20 million during the quarter, compared to analysts’ expectations of $625.43 million. TTM Technologies had a return on equity of 17.05% and a net margin of 2.97%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. Equities analysts predict that TTM Technologies will post $1.53 EPS for the current year.

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In related news, SVP Daniel J. Weber sold 3,605 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $17.92, for a total value of $64,601.60. Following the completion of the sale, the senior vice president now directly owns 48,270 shares in the company, valued at approximately $864,998.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kenton K. Alder sold 3,000 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $18.09, for a total value of $54,270.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,074 shares of company stock valued at $201,140. 28.40% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in TTMI. LSV Asset Management increased its stake in shares of TTM Technologies by 492.0% in the second quarter. LSV Asset Management now owns 2,508,368 shares of the technology company’s stock valued at $43,545,000 after buying an additional 2,084,668 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TTM Technologies by 17.4% in the first quarter. Vanguard Group Inc. now owns 11,833,440 shares of the technology company’s stock valued at $190,873,000 after buying an additional 1,757,393 shares in the last quarter. FMR LLC increased its stake in shares of TTM Technologies by 111.0% in the first quarter. FMR LLC now owns 2,823,070 shares of the technology company’s stock valued at $45,536,000 after buying an additional 1,484,825 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of TTM Technologies by 51.6% in the first quarter. Acadian Asset Management LLC now owns 3,259,213 shares of the technology company’s stock valued at $52,571,000 after buying an additional 1,108,651 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of TTM Technologies by 80.5% in the first quarter. Ameriprise Financial Inc. now owns 2,128,734 shares of the technology company’s stock valued at $34,338,000 after buying an additional 949,674 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

About TTM Technologies

TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.

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