TTM Technologies (TTMI) Receives a Buy from Needham

Needham analyst James Ricchiuti maintained a Buy rating on TTM Technologies (TTMIResearch Report) today and set a price target of $18.00. The company’s shares closed yesterday at $15.00.

According to TipRanks, Ricchiuti is a 5-star analyst with an average return of 13.9% and a 56.64% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Faro Technologies, Coherent Corp, and Benchmark Electronics.

TTM Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $17.00.

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Based on TTM Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $625.55 million and a net profit of $27.79 million. In comparison, last year the company earned a revenue of $567.38 million and had a net profit of $28.26 million

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TTMI in relation to earlier this year.

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TTM Technologies, Inc. engages in the manufacture and sale of printed circuit boards and backplane assemblies. It operates through the following segments: Printed Circuit Board and Electro-Mechanical Solutions. It offers products such as backplanes, system integration, chassis assemblies, integrated circuit substrates and chips, and engineering services. The company was founded on March 20, 1978 and is headquartered in Santa Ana, CA.

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