Needham & Company LLC reissued their buy rating on shares of TTM Technologies (NASDAQ:TTMI – Free Report) in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a $19.00 price objective on the technology company’s stock.
Separately, Stifel Nicolaus raised TTM Technologies from a hold rating to a buy rating and increased their price target for the stock from $15.00 to $19.00 in a research note on Thursday. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $18.17.
Get Our Latest Stock Analysis on TTMI
TTM Technologies Stock Performance
TTM Technologies (NASDAQ:TTMI – Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $569.04 million during the quarter, compared to analyst estimates of $572.03 million. TTM Technologies had a positive return on equity of 8.63% and a negative net margin of 0.11%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. Analysts anticipate that TTM Technologies will post 1.28 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Tom Clapprood sold 3,500 shares of TTM Technologies stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $16.48, for a total transaction of $57,680.00. Following the transaction, the insider now directly owns 52,264 shares of the company’s stock, valued at $861,310.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.
Institutional Trading of TTM Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in TTM Technologies during the third quarter valued at about $13,051,000. Norges Bank acquired a new stake in shares of TTM Technologies in the fourth quarter worth $10,616,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of TTM Technologies by 58.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,425,000 shares of the technology company’s stock valued at $18,354,000 after buying an additional 525,000 shares in the last quarter. Panagora Asset Management Inc. raised its position in TTM Technologies by 103.7% during the third quarter. Panagora Asset Management Inc. now owns 346,929 shares of the technology company’s stock valued at $4,468,000 after buying an additional 176,619 shares during the period. Finally, SG Capital Management LLC raised its position in TTM Technologies by 34.5% during the third quarter. SG Capital Management LLC now owns 575,499 shares of the technology company’s stock valued at $7,412,000 after buying an additional 147,549 shares during the period. 95.79% of the stock is owned by institutional investors and hedge funds.
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.
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