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

TTM Technologies (NASDAQ:TTMI) had its price target dropped by Needham & Company LLC from $22.00 to $20.00 in a research note issued on Thursday. The brokerage currently has a “strong-buy” rating on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 33.42% from the company’s previous close.

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

Shares of TTM Technologies (TTMI) traded down $0.15 on Thursday, reaching $14.99. 1,538,843 shares of the company were exchanged, compared to its average volume of 1,164,828. The firm has a market capitalization of $1,526.21, a P/E ratio of 13.63 and a beta of 1.70. TTM Technologies has a fifty-two week low of $12.76 and a fifty-two week high of $19.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.21 and a current ratio of 1.70.

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

In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $16.10, for a total value of $48,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 28.40% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Simplex Trading LLC acquired a new position in shares of TTM Technologies in the third quarter valued at $120,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of TTM Technologies by 169.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,048 shares of the technology company’s stock valued at $124,000 after purchasing an additional 5,056 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of TTM Technologies by 29.6% in the second quarter. Ameritas Investment Partners Inc. now owns 8,112 shares of the technology company’s stock valued at $141,000 after purchasing an additional 1,852 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of TTM Technologies by 55.2% in the third quarter. Envestnet Asset Management Inc. now owns 9,434 shares of the technology company’s stock valued at $145,000 after purchasing an additional 3,357 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new position in shares of TTM Technologies in the fourth quarter valued at $160,000.

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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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