TTM Technologies (NASDAQ:TTMI) Raised 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 published on Thursday, MarketBeat reports. The firm 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 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.com, the stock presently has a consensus rating of Buy and a consensus price target of $18.17.

TTM Technologies Price Performance

TTMI opened at $17.31 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.77 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $14.81 and its two-hundred day moving average price is $14.62. TTM Technologies has a twelve month low of $11.14 and a twelve month high of $17.32.

TTM Technologies (NASDAQ:TTMI) last released its earnings results 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. The business had revenue of $569.04 million during the quarter, compared to the consensus estimate of $572.03 million. TTM Technologies had a positive return on equity of 8.63% and a negative net margin of 0.11%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. As a group, equities analysts predict that TTM Technologies will post 1.28 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tom Clapprood sold 3,500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 of the company’s stock, valued at $861,310.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TTMI. Larson Financial Group LLC bought a new position in shares of TTM Technologies during the 1st quarter valued at about $266,000. GSA Capital Partners LLP lifted its stake in TTM Technologies by 135.0% in the first quarter. GSA Capital Partners LLP now owns 63,681 shares of the technology company’s stock worth $997,000 after purchasing an additional 36,582 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of TTM Technologies by 61.3% in the first quarter. BNP Paribas Financial Markets now owns 107,322 shares of the technology company’s stock worth $1,680,000 after buying an additional 40,784 shares during the period. Allspring Global Investments Holdings LLC boosted 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 valued at $392,000 after acquiring an additional 23,945 shares during the period. Finally, Wesbanco Bank Inc. bought a new stake in TTM Technologies in the first quarter valued at approximately $1,006,000. 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.