TTM Technologies (NASDAQ:TTMI) Lifted 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 morning, Marketbeat.com reports. Stifel Nicolaus currently has $19.00 target price on the technology company’s stock, up from their previous target price of $15.00.

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

TTM Technologies Stock Performance

TTMI traded up $0.66 during trading on Thursday, hitting $17.31. The stock had a trading volume of 1,138,245 shares, compared to its average volume of 516,757. TTM Technologies has a twelve month low of $11.14 and a twelve month 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. The company’s 50-day moving average price is $14.81 and its 200 day moving average price is $14.61. The firm has a market capitalization of $1.76 billion, a P/E ratio of -865.50 and a beta of 1.37.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.41 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $572.03 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue was down 7.8% on a year-over-year basis. On average, equities research analysts forecast that TTM Technologies will post 1.28 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of TTM Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in TTM Technologies in the 3rd quarter valued at about $13,051,000. Louisiana State Employees Retirement System purchased a new position in shares of TTM Technologies during the fourth quarter valued at approximately $809,000. Robeco Institutional Asset Management B.V. boosted its position in TTM Technologies by 207.5% during the third 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. Swiss National Bank boosted its position in TTM Technologies by 0.9% during the third quarter. Swiss National Bank now owns 225,500 shares of the technology company’s stock worth $2,904,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in TTM Technologies by 58.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,425,000 shares of the technology company’s stock worth $18,354,000 after acquiring an additional 525,000 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

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.