TTM Technologies’ (TTMI) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of TTM Technologies (NASDAQ:TTMI) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $220.00 price target on the technology company’s stock.

A number of other equities analysts have also issued reports on the company. Truist Financial increased their price target on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen raised TTM Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Finally, Stifel Nicolaus lifted their target price on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $214.25.

TTM Technologies Price Performance

Shares of NASDAQ TTMI opened at $114.38 on Tuesday. TTM Technologies has a fifty-two week low of $39.66 and a fifty-two week high of $223.83. The firm’s 50-day simple moving average is $153.34 and its 200 day simple moving average is $136.16. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The stock has a market cap of $12.05 billion, a P/E ratio of 51.52 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. TTM Technologies’s revenue was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. Equities analysts expect that TTM Technologies will post 4.26 EPS for the current year.

Insider Buying and Selling at TTM Technologies

In related news, SVP Dale Martin Knecht sold 26,198 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the completion of the transaction, the senior vice president owned 40,138 shares in the company, valued at $5,699,596. This trade represents a 39.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Catherine A. Gridley sold 3,056 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $638,520.64. Following the completion of the transaction, the executive vice president owned 71,866 shares of the company’s stock, valued at $15,015,682.04. This trade represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 108,241 shares of company stock valued at $20,911,975 over the last 90 days. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of TTM Technologies by 66.6% in the 1st quarter. Royal Bank of Canada now owns 26,433 shares of the technology company’s stock valued at $543,000 after acquiring an additional 10,565 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in TTM Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company’s stock worth $1,232,000 after purchasing an additional 2,632 shares during the period. Goldman Sachs Group Inc. grew its position in TTM Technologies by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company’s stock worth $34,989,000 after purchasing an additional 115,766 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in TTM Technologies by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company’s stock worth $3,908,000 after purchasing an additional 13,691 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in TTM Technologies by 1,150.2% during the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company’s stock valued at $2,869,000 after purchasing an additional 128,700 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

TTM Technologies Company Profile

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.