TTM Technologies (NASDAQ:TTMI) Given Buy Rating at Needham & Company LLC

TTM Technologies (NASDAQ:TTMI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $220.00 target price on the technology company’s stock. Needham & Company LLC’s target price suggests a potential upside of 56.05% from the stock’s current price.

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

TTM Technologies Trading Up 0.7%

NASDAQ:TTMI opened at $140.98 on Tuesday. The company has a market capitalization of $14.85 billion, a P/E ratio of 63.50 and a beta of 2.15. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. TTM Technologies has a 12 month low of $39.20 and a 12 month high of $223.83. The firm has a fifty day simple moving average of $156.88 and a 200-day simple moving average of $135.71.

TTM Technologies (NASDAQ:TTMI) last released its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.10. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The firm’s revenue was up 37.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. On average, equities research analysts anticipate that TTM Technologies will post 4.26 earnings per share for the current year.

Insider Activity

In related news, EVP Douglas L. Soder sold 2,874 shares of TTM Technologies stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $600,493.56. Following the completion of the transaction, the executive vice president directly owned 210,634 shares in the company, valued at approximately $44,009,867.96. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Catherine A. Gridley sold 3,056 shares of the business’s stock in a transaction that occurred 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 directly owned 71,866 shares of the company’s stock, valued at $15,015,682.04. The trade was a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 108,241 shares of company stock valued at $20,911,975 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

Several large investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new stake in TTM Technologies during the second quarter worth $29,000. Kestra Advisory Services LLC purchased a new position in TTM Technologies in the fourth quarter valued at $30,000. Truvestments Capital LLC acquired a new position in shares of TTM Technologies in the fourth quarter worth about $30,000. GoalVest Advisory LLC raised its position in shares of TTM Technologies by 456.7% in the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock worth $31,000 after acquiring an additional 137 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in shares of TTM Technologies during the 4th quarter worth about $32,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

About TTM Technologies

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.