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

TTM Technologies (NASDAQ:TTMI) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Thursday, FinViz reports. The firm currently has a $19.00 target price on the technology company’s stock, up from their previous target price of $15.00. Stifel Nicolaus’ price target suggests a potential upside of 28.64% from the stock’s previous close.

Separately, Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of TTM Technologies in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.17.

TTM Technologies Stock Down 1.1 %

TTMI opened at $14.77 on Thursday. The stock’s 50 day moving average price is $14.76 and its 200 day moving average price is $14.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.03 and a quick ratio of 1.73. The stock has a market cap of $1.50 billion, a P/E ratio of -82.05 and a beta of 1.37. TTM Technologies has a 12 month low of $11.13 and a 12 month high of $16.53.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. TTM Technologies had a positive return on equity of 7.83% and a negative net margin of 0.84%. The company had revenue of $569.04 million during the quarter, compared to analysts’ expectations of $572.03 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, research analysts predict that TTM Technologies will post 1.28 earnings per share for the current year.

Insider Activity

In other news, insider Tom Clapprood sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $16.48, for a total transaction of $57,680.00. Following the completion of the transaction, the insider now owns 52,264 shares in the company, valued at approximately $861,310.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TTMI. BNP Paribas Financial Markets raised its position in shares of TTM Technologies by 61.3% during the first quarter. BNP Paribas Financial Markets now owns 107,322 shares of the technology company’s stock worth $1,680,000 after purchasing an additional 40,784 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in TTM Technologies by 2,130.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,069 shares of the technology company’s stock worth $392,000 after buying an additional 23,945 shares during the period. Wesbanco Bank Inc. acquired a new stake in TTM Technologies during the 1st quarter worth about $1,006,000. Bridgeway Capital Management LLC boosted its holdings in shares of TTM Technologies by 4.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 934,498 shares of the technology company’s stock worth $14,774,000 after buying an additional 40,111 shares during the period. Finally, CastleKnight Management LP acquired a new position in shares of TTM Technologies in the fourth quarter worth about $1,088,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

About TTM Technologies

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.