TTM Technologies (NASDAQ:TTMI) Given “Buy” Rating at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of TTM Technologies (NASDAQ:TTMI) in a research note released on Monday,Benzinga reports. The brokerage currently has a $40.00 price target on the technology company’s stock, up from their prior price target of $33.00.

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

TTM Technologies Price Performance

NASDAQ:TTMI opened at $36.97 on Monday. TTM Technologies has a one year low of $15.77 and a one year high of $37.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.75 and a current ratio of 2.07. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 49.29 and a beta of 1.37. The firm’s fifty day moving average is $27.12 and its two-hundred day moving average is $25.05.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. TTM Technologies had a net margin of 3.09% and a return on equity of 10.75%. The company had revenue of $648.67 million for the quarter, compared to analyst estimates of $621.44 million. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Research analysts expect that TTM Technologies will post 1.76 EPS for the current year.

TTM Technologies announced that its board has initiated a stock repurchase program on Friday, May 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 3.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at TTM Technologies

In other news, EVP Daniel J. Weber sold 20,170 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total transaction of $595,216.70. Following the sale, the executive vice president now directly owns 74,983 shares of the company’s stock, valued at $2,212,748.33. This represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the senior vice president now owns 67,544 shares of the company’s stock, valued at approximately $2,307,303.04. This trade represents a 10.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,944 shares of company stock valued at $2,235,071 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Northern Trust Corp raised its position in shares of TTM Technologies by 7.8% during the 4th quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company’s stock worth $28,700,000 after purchasing an additional 84,137 shares during the last quarter. GAMMA Investing LLC raised its position in shares of TTM Technologies by 2,396.2% during the 1st quarter. GAMMA Investing LLC now owns 50,947 shares of the technology company’s stock worth $1,045,000 after purchasing an additional 48,906 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of TTM Technologies by 391.6% during the 4th 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 last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of TTM Technologies by 5.0% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 582,525 shares of the technology company’s stock worth $14,417,000 after purchasing an additional 27,980 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of TTM Technologies by 46.8% during the 4th quarter. Deutsche Bank AG now owns 86,547 shares of the technology company’s stock worth $2,142,000 after purchasing an additional 27,584 shares during the last quarter. Institutional investors and hedge funds 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.