TTM Technologies’ (TTMI) Buy Rating Reiterated at Stifel Nicolaus

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

TTMI has been the subject of a number of other research reports. Needham & Company LLC boosted their price objective on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. B. Riley boosted their price objective 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 boosted their price objective 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 Stock Up 1.6%

Shares of NASDAQ TTMI opened at $36.97 on Monday. 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 capitalization of $3.76 billion, a price-to-earnings ratio of 49.29 and a beta of 1.37. The stock has a 50 day moving average price of $27.12 and a 200 day moving average price of $25.05. TTM Technologies has a 52-week low of $15.77 and a 52-week high of $37.74.

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

TTM Technologies declared that its Board of Directors has initiated a share repurchase program on Friday, May 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at TTM Technologies

In other news, EVP Douglas L. Soder sold 24,972 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total transaction of $749,160.00. Following the sale, the executive vice president now directly owns 173,026 shares of the company’s stock, valued at $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dale Martin Knecht sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the sale, the senior vice president now directly owns 76,346 shares in the company, valued at $2,253,733.92. This trade represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,944 shares of company stock valued at $2,235,071. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

A number of large investors have recently made changes to their positions in TTMI. Franklin Resources Inc. grew its holdings in shares of TTM Technologies by 532.1% during the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company’s stock valued at $48,454,000 after buying an additional 1,648,017 shares during the last quarter. Nuveen LLC purchased a new stake in shares of TTM Technologies during the first quarter valued at $31,763,000. Victory Capital Management Inc. grew its holdings in shares of TTM Technologies by 391.6% during the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock valued at $24,268,000 after buying an additional 781,058 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of TTM Technologies during the fourth quarter valued at $19,040,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of TTM Technologies by 50.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company’s stock valued at $37,971,000 after buying an additional 515,015 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other 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.