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

TTM Technologies (NASDAQ:TTMI) had its target price upped by Needham & Company LLC from $30.00 to $33.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

TTM Technologies Stock Performance

NASDAQ TTMI opened at $26.72 on Thursday. The company’s fifty day moving average is $25.09 and its two-hundred day moving average is $21.83. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 40.49 and a beta of 1.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.00 and a quick ratio of 1.70. TTM Technologies has a 52-week low of $13.43 and a 52-week high of $30.41.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 8.67% and a net margin of 2.90%. Equities research analysts forecast that TTM Technologies will post 1.36 EPS for the current year.

Insider Buying and Selling

In other news, EVP Shawn A. Powers sold 6,400 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $23.74, for a total value of $151,936.00. Following the completion of the transaction, the executive vice president now owns 95,341 shares in the company, valued at approximately $2,263,395.34. This represents a 6.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeff Jankowsky sold 5,000 shares of TTM Technologies stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $24.23, for a total transaction of $121,150.00. Following the sale, the insider now owns 55,273 shares in the company, valued at approximately $1,339,264.79. This trade represents a 8.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,261 shares of company stock valued at $1,043,417 over the last ninety days. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On TTM Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. USA Financial Formulas bought a new stake in TTM Technologies in the fourth quarter valued at $25,000. Smartleaf Asset Management LLC boosted its stake in shares of TTM Technologies by 670.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,220 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of TTM Technologies by 67.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,598 shares of the technology company’s stock worth $29,000 after purchasing an additional 642 shares during the last quarter. Quarry LP acquired a new stake in shares of TTM Technologies during the 3rd quarter worth about $34,000. Finally, Covestor Ltd lifted its holdings in TTM Technologies by 3,220.3% during the 3rd quarter. Covestor Ltd now owns 1,959 shares of the technology company’s stock valued at $36,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

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.