Needham & Company LLC Lowers TTM Technologies (TTMI) Price Target to $20.00

TTM Technologies (NASDAQ:TTMI) had its target price trimmed by Needham & Company LLC from $22.00 to $20.00 in a research report released on Thursday. The firm currently has a strong-buy rating on the technology company’s stock.

TTMI has been the subject of a number of other reports. BidaskClub cut TTM Technologies from a buy rating to a hold rating in a research note on Tuesday, December 5th. Zacks Investment Research lowered TTM Technologies from a hold rating to a strong sell rating in a research report on Thursday, October 26th. SunTrust Banks assumed coverage on TTM Technologies in a research report on Thursday, December 14th. They set a buy rating and a $20.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $17.50 target price on shares of TTM Technologies in a research report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $19.50.

Shares of TTM Technologies (TTMI) opened at $14.99 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.21 and a current ratio of 1.70. The firm has a market capitalization of $1,510.00, a price-to-earnings ratio of 14.70 and a beta of 1.70. TTM Technologies has a 12 month low of $12.76 and a 12 month high of $19.54.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $739.30 million during the quarter, compared to analysts’ expectations of $724.65 million. TTM Technologies had a return on equity of 13.26% and a net margin of 4.67%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS. analysts anticipate that TTM Technologies will post 1.25 earnings per share for the current fiscal year.

In related news, Director Kenton K. Alder sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $16.07, for a total transaction of $48,210.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 28.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. FDx Advisors Inc. acquired a new position in TTM Technologies during the 4th quarter valued at about $160,000. Employees Retirement System of Texas acquired a new position in TTM Technologies during the 4th quarter valued at about $548,000. UBS Asset Management Americas Inc. increased its position in TTM Technologies by 11.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 53,659 shares of the technology company’s stock valued at $841,000 after buying an additional 5,425 shares in the last quarter. Schroder Investment Management Group acquired a new position in TTM Technologies during the 4th quarter valued at about $3,058,000. Finally, Rhumbline Advisers increased its position in TTM Technologies by 15.3% during the 4th quarter. Rhumbline Advisers now owns 214,609 shares of the technology company’s stock valued at $3,363,000 after buying an additional 28,557 shares in the last quarter.

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About TTM Technologies

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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