TTM Technologies (NASDAQ:TTMI) Stock Rating Upgraded by Stifel Nicolaus

Stifel Nicolaus upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a buy rating in a research note published on Thursday, Marketbeat reports. The brokerage 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 restated a buy rating and set a $19.00 price target on shares of TTM Technologies in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, TTM Technologies presently has a consensus rating of Buy and a consensus price target of $18.17.

TTM Technologies Stock Performance

Shares of TTM Technologies stock opened at $17.31 on Thursday. TTM Technologies has a 12 month low of $11.14 and a 12 month high of $17.32. The stock’s fifty day moving average price is $14.81 and its 200-day moving average price is $14.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.77 and a current ratio of 2.09.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $569.04 million for the quarter, compared to analysts’ expectations of $572.03 million. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. On average, analysts expect that TTM Technologies will post 1.28 earnings per share for the current year.

Insider Transactions at TTM Technologies

In related news, insider Tom Clapprood sold 3,500 shares of the company’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 sale, the insider now owns 52,264 shares of the company’s stock, valued at approximately $861,310.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Trading of TTM Technologies

Several large investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC acquired a new position in shares of TTM Technologies during the 1st quarter valued at about $266,000. GSA Capital Partners LLP grew its stake in shares of TTM Technologies by 135.0% in the 1st quarter. GSA Capital Partners LLP now owns 63,681 shares of the technology company’s stock valued at $997,000 after buying an additional 36,582 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of TTM Technologies by 61.3% during the 1st 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 last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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 buying an additional 23,945 shares during the period. Finally, Wesbanco Bank Inc. purchased a new stake in shares of TTM Technologies during the 1st quarter valued at approximately $1,006,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

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.