TTM Technologies (NASDAQ:TTMI) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a buy rating in a research report released on Thursday, Marketbeat Ratings reports. Stifel Nicolaus currently has $19.00 price target on the technology company’s stock, up from their previous price target of $15.00.

Separately, Needham & Company LLC reiterated 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, Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $18.17.

TTM Technologies Stock Performance

Shares of TTMI opened at $17.31 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.73 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $14.81 and a 200-day moving average price of $14.62. The company has a market cap of $1.76 billion, a PE ratio of -865.07 and a beta of 1.37. TTM Technologies has a 12-month low of $11.14 and a 12-month high of $17.32.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. The company had revenue of $569.04 million during the quarter, compared to the consensus estimate of $572.03 million. During the same period in the previous year, the firm posted $0.36 EPS. The firm’s revenue was down 7.8% compared to the same quarter last year. As a group, equities analysts forecast that TTM Technologies will post 1.28 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 3,500 shares of the company’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 completion of the transaction, the insider now directly owns 52,264 shares in the company, valued at $861,310.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of TTM Technologies

Several institutional investors have recently made changes to their positions in TTMI. Wellington Management Group LLP bought a new stake in shares of TTM Technologies in the third quarter worth about $13,051,000. Norges Bank bought a new stake in shares of TTM Technologies in the 4th quarter worth about $10,616,000. Adage Capital Partners GP L.L.C. raised its position in shares of TTM Technologies by 58.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,425,000 shares of the technology company’s stock valued at $18,354,000 after buying an additional 525,000 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of TTM Technologies by 103.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 346,929 shares of the technology company’s stock valued at $4,468,000 after acquiring an additional 176,619 shares during the last quarter. Finally, SG Capital Management LLC grew its position in TTM Technologies by 34.5% in the third quarter. SG Capital Management LLC now owns 575,499 shares of the technology company’s stock worth $7,412,000 after acquiring an additional 147,549 shares in the last quarter. 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.