TTM Technologies (NASDAQ:TTMI) Upgraded to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a buy rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has $19.00 price target on the technology company’s stock, up from their prior price target of $15.00.

Separately, Needham & Company LLC reaffirmed a buy rating and set a $19.00 target price on shares of TTM Technologies in a report on Wednesday, January 31st. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and an average target price of $18.17.

TTM Technologies Stock Performance

TTMI stock traded up $0.66 during midday trading on Thursday, reaching $17.31. 1,138,245 shares of the company’s stock traded hands, compared to its average volume of 516,757. The firm has a market capitalization of $1.76 billion, a PE ratio of -865.50 and a beta of 1.37. The company has a 50-day moving average price of $14.81 and a two-hundred day moving average price of $14.61. TTM Technologies has a 52 week low of $11.14 and a 52 week high of $17.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.73 and a current ratio of 2.09.

TTM Technologies (NASDAQ:TTMI) 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. TTM Technologies had a positive return on equity of 8.63% and a negative net margin of 0.11%. The company had revenue of $569.04 million for the quarter, compared to analyst estimates of $572.03 million. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that TTM Technologies will post 1.28 EPS for the current year.

Insider Activity

In related news, insider Tom Clapprood sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $16.48, for a total value of $57,680.00. Following the sale, the insider now directly owns 52,264 shares of the company’s stock, valued at $861,310.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

A number of large investors have recently added to or reduced their stakes in TTMI. AXQ Capital LP purchased a new position in shares of TTM Technologies during the 3rd quarter valued at about $144,000. Versor Investments LP purchased a new position in shares of TTM Technologies during the fourth quarter worth approximately $236,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of TTM Technologies by 207.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 16,201 shares of the technology company’s stock worth $209,000 after acquiring an additional 10,932 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of TTM Technologies during the 1st quarter valued at $266,000. Finally, Fox Run Management L.L.C. purchased a new position in TTM Technologies in the 3rd quarter worth $233,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.