TTM Technologies (NASDAQ:TTMI) Given New $55.00 Price Target at Stifel Nicolaus

Key Points

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TTM Technologies (NASDAQ:TTMI - Free Report) had its price objective lifted by Stifel Nicolaus from $40.00 to $55.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company's stock.

Several other analysts have also recently issued reports on TTMI. B. Riley increased their target price on TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Truist Financial increased their target price on TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Wall Street Zen cut TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Needham & Company LLC increased their target price on TTM Technologies from $43.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $52.25.

TTM Technologies Stock Performance

TTMI traded down $3.91 during midday trading on Thursday, reaching $43.34. The company had a trading volume of 5,240,632 shares, compared to its average volume of 2,661,912. The company has a quick ratio of 1.75, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $39.70 and a two-hundred day moving average of $29.08. The company has a market cap of $4.40 billion, a P/E ratio of 48.16 and a beta of 1.48. TTM Technologies has a 1 year low of $15.77 and a 1 year high of $51.15.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. The business had revenue of $730.62 million during the quarter, compared to analysts' expectations of $668.42 million. TTM Technologies had a return on equity of 11.80% and a net margin of 3.52%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. As a group, equities research analysts predict that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

TTM Technologies declared that its board has authorized a stock repurchase plan 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 plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the transaction, the insider owned 34,037 shares in the company, valued at $1,004,091.50. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Daniel J. Weber sold 20,170 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the transaction, the executive vice president owned 74,983 shares of the company's stock, valued at $2,212,748.33. This represents a 21.20% decrease in their position. 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 three months. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On TTM Technologies

Several institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in shares of TTM Technologies by 532.1% in the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock valued at $48,454,000 after purchasing an additional 1,648,017 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of TTM Technologies by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after acquiring an additional 115,766 shares during the last quarter. Nuveen LLC purchased a new position in TTM Technologies during the 1st quarter worth $31,763,000. Massachusetts Financial Services Co. MA increased its holdings in TTM Technologies by 50.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock worth $37,971,000 after purchasing an additional 515,015 shares during the period. Finally, Emerald Advisers LLC increased its holdings in TTM Technologies by 34.3% during the 1st quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock worth $29,533,000 after purchasing an additional 367,798 shares during the period. 95.79% of the stock is 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.