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

TTM Technologies (NASDAQ:TTMI) had its price objective hoisted by Needham & Company LLC from $30.00 to $33.00 in a report issued on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

TTM Technologies Trading Up 7.8 %

Shares of NASDAQ:TTMI opened at $26.72 on Thursday. TTM Technologies has a 12-month low of $13.43 and a 12-month high of $30.41. The company has a quick ratio of 1.70, a current ratio of 2.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $2.72 billion, a P/E ratio of 40.49 and a beta of 1.19. The firm has a fifty day moving average of $25.09 and a two-hundred day moving average of $21.83.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. TTM Technologies had a return on equity of 8.67% and a net margin of 2.90%. On average, equities analysts expect that TTM Technologies will post 1.36 EPS for the current fiscal year.

Insider Activity at TTM Technologies

In other TTM Technologies news, EVP Shawn A. Powers sold 6,400 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $23.74, for a total transaction of $151,936.00. Following the transaction, the executive vice president now directly owns 95,341 shares in the company, valued at $2,263,395.34. This trade represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas L. Soder sold 19,015 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $25.00, for a total value of $475,375.00. Following the completion of the sale, the executive vice president now directly owns 185,478 shares of the company’s stock, valued at $4,636,950. This represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,261 shares of company stock valued at $1,043,417. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TTM Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTMI. Geode Capital Management LLC boosted its holdings in shares of TTM Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,437,400 shares of the technology company’s stock worth $44,491,000 after buying an additional 30,738 shares during the period. Wellington Management Group LLP lifted its position 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 acquiring an additional 18,027 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in TTM Technologies by 41.7% during the third quarter. Loomis Sayles & Co. L P now owns 1,249,540 shares of the technology company’s stock valued at $22,804,000 after acquiring an additional 367,608 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of TTM Technologies in the third quarter valued at about $18,600,000. Finally, Victory Capital Management Inc. increased its stake in shares of TTM Technologies by 391.6% in 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 period. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.