TTM Technologies (NASDAQ:TTMI) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of TTM Technologies (NASDAQ:TTMI) in a research report sent to investors on Monday,Benzinga reports. They currently have a $40.00 target price on the technology company’s stock, up from their previous target price of $33.00.

Several other analysts have also weighed in on TTMI. B. Riley boosted their target price on shares of TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Truist Financial upped their price target on shares of TTM Technologies from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Finally, Needham & Company LLC upped their price target on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st.

TTM Technologies Stock Up 4.8%

TTMI stock opened at $37.09 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. TTM Technologies has a 1-year low of $15.77 and a 1-year high of $37.74. The firm has a fifty day moving average price of $26.45 and a two-hundred day moving average price of $24.89. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 68.69 and a beta of 1.37.

TTM Technologies (NASDAQ:TTMI) last released its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The firm had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts predict that TTM Technologies will post 1.76 EPS for the current year.

TTM Technologies declared that its board has approved a stock repurchase program on Friday, May 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to buy up to 3.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at TTM Technologies

In related news, EVP Daniel J. Weber sold 20,170 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the completion of the sale, the executive vice president now owns 74,983 shares of the company’s stock, valued at $2,212,748.33. This represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Dale Martin Knecht sold 7,662 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $34.16, for a total transaction of $261,733.92. Following the completion of the sale, the senior vice president now directly owns 67,544 shares of the company’s stock, valued at $2,307,303.04. The trade was a 10.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,944 shares of company stock worth $2,235,071. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

Several institutional investors have recently bought and sold shares of TTMI. Franklin Resources Inc. lifted its holdings in TTM Technologies by 532.1% in the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company’s stock worth $48,454,000 after purchasing an additional 1,648,017 shares during the period. Nuveen LLC acquired a new stake in TTM Technologies in the first quarter worth about $31,763,000. Victory Capital Management Inc. lifted its holdings in TTM Technologies by 391.6% in the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock worth $24,268,000 after purchasing an additional 781,058 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in TTM Technologies in the 4th quarter valued at about $19,040,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in TTM Technologies by 50.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company’s stock valued at $37,971,000 after acquiring an additional 515,015 shares during the last quarter. 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.