TTM Technologies, Inc. (NASDAQ:TTMI) Lifted to “Strong-Buy” at Needham & Company LLC

Needham & Company LLC upgraded shares of TTM Technologies, Inc. (NASDAQ:TTMI) from a buy rating to a strong-buy rating in a report issued on Monday, MarketBeat Ratings reports. Needham & Company LLC currently has $22.00 price objective on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. TheStreet upgraded shares of TTM Technologies from a c rating to a b- rating in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded shares of TTM Technologies from a sell rating to a hold rating in a research note on Wednesday, April 12th. Stifel Nicolaus reiterated a hold rating and issued a $17.50 price objective on shares of TTM Technologies in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of TTM Technologies from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. TTM Technologies presently has a consensus rating of Hold and a consensus price target of $19.88.

TTM Technologies (TTMI) opened at 13.49 on Monday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 18.76 and a beta of 1.46. The stock has a 50 day moving average price of $17.53 and a 200 day moving average price of $16.61. TTM Technologies has a 52-week low of $10.04 and a 52-week high of $19.54.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ 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 net margin of 2.97% and a return on equity of 17.05%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. Analysts anticipate that TTM Technologies will post $1.53 EPS for the current fiscal year.

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In other news, Director Kenton K. Alder sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $18.09, for a total transaction of $54,270.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Daniel J. Weber sold 3,605 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $17.92, for a total transaction of $64,601.60. Following the sale, the senior vice president now owns 48,270 shares of the company’s stock, valued at approximately $864,998.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,074 shares of company stock valued at $249,890. 28.40% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of TTMI. Sheaff Brock Investment Advisors LLC bought a new stake in shares of TTM Technologies during the second quarter valued at about $928,000. LSV Asset Management raised 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 during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of TTM Technologies by 215.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,928 shares of the technology company’s stock valued at $624,000 after buying an additional 24,550 shares during the last quarter. Cipher Capital LP raised its stake in shares of TTM Technologies by 82.5% in the second quarter. Cipher Capital LP now owns 153,790 shares of the technology company’s stock valued at $2,670,000 after buying an additional 69,510 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of TTM Technologies by 7.4% in the second quarter. Swiss National Bank now owns 142,100 shares of the technology company’s stock valued at $2,467,000 after buying an additional 9,800 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

TTM Technologies Company Profile

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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