Stifel Nicolaus Issues Positive Forecast for TTM Technologies (NASDAQ:TTMI) Stock Price

TTM Technologies (NASDAQ:TTMI) had its price objective increased by Stifel Nicolaus from $40.00 to $55.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on TTMI. Needham & Company LLC increased their target price on shares of TTM Technologies from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday. B. Riley raised their price target on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th. Finally, Truist Financial raised their price target on shares of TTM Technologies from $41.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $52.25.

TTM Technologies Trading Down 3.0%

Shares of TTMI opened at $47.25 on Thursday. TTM Technologies has a twelve month low of $15.77 and a twelve month high of $51.15. The company has a market cap of $4.80 billion, a P/E ratio of 52.50 and a beta of 1.46. The company has a current ratio of 2.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $39.40 and its 200-day simple moving average is $28.96.

TTM Technologies (NASDAQ:TTMI) last announced 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 3.52% and a return on equity of 11.93%. The business had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, analysts expect that TTM Technologies will post 1.76 EPS for the current year.

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

Insider Buying and Selling

In other TTM Technologies 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 transaction, the executive vice president directly owned 74,983 shares in the company, valued at $2,212,748.33. This represents a 21.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas L. Soder sold 24,972 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total transaction of $749,160.00. Following the transaction, the executive vice president owned 173,026 shares in the company, valued at approximately $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,226 shares of company stock worth $3,504,492 over the last ninety days. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valliance Asset Management Ltd bought a new position in TTM Technologies during the 2nd quarter worth about $2,815,000. Allianz Asset Management GmbH grew its holdings in TTM Technologies by 8.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 137,614 shares of the technology company’s stock worth $5,617,000 after acquiring an additional 10,514 shares in the last quarter. New York State Teachers Retirement System grew its holdings in TTM Technologies by 7.9% during the 2nd quarter. New York State Teachers Retirement System now owns 119,350 shares of the technology company’s stock worth $4,872,000 after acquiring an additional 8,773 shares in the last quarter. Concord Wealth Partners bought a new position in TTM Technologies during the 2nd quarter worth about $47,000. Finally, Yousif Capital Management LLC grew its holdings in TTM Technologies by 1.0% during the 2nd quarter. Yousif Capital Management LLC now owns 38,027 shares of the technology company’s stock worth $1,552,000 after acquiring an additional 374 shares in the last quarter. 95.79% of the stock is currently owned by 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.