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

TTM Technologies (NASDAQ:TTMI - Get Free Report)'s stock had its "buy" rating reissued by analysts at Stifel Nicolaus in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $40.00 target price on the technology company's stock, up from their prior target price of $33.00. Stifel Nicolaus' price objective would indicate a potential upside of 6.64% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. B. Riley raised their price target 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. 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 report on Monday, June 9th. Finally, Needham & Company LLC raised their target price on shares of TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, May 1st.

TTM Technologies Price Performance

NASDAQ:TTMI traded up $2.13 during trading hours on Monday, hitting $37.51. The company's stock had a trading volume of 1,013,128 shares, compared to its average volume of 822,819. TTM Technologies has a twelve month low of $15.77 and a twelve month high of $37.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The stock has a fifty day simple moving average of $26.06 and a 200-day simple moving average of $24.80. The company has a market capitalization of $3.81 billion, a P/E ratio of 69.53 and a beta of 1.37.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.39 by $0.11. The business had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The firm's revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. On average, analysts anticipate that TTM Technologies will post 1.76 EPS for the current fiscal year.

TTM Technologies announced that its Board of Directors has authorized a stock repurchase plan on Friday, May 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 3.7% of its stock through open market purchases. Stock buyback plans 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, SVP Dale Martin Knecht sold 7,662 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $34.16, for a total value of $261,733.92. Following the transaction, the senior vice president now owns 67,544 shares in the company, valued at approximately $2,307,303.04. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was 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 directly owns 74,983 shares in the company, valued at $2,212,748.33. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,944 shares of company stock worth $2,235,071 in the last ninety days. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TTMI. Smartleaf Asset Management LLC increased its position in TTM Technologies by 670.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after purchasing an additional 1,220 shares during the period. Quarry LP raised its stake in TTM Technologies by 249.9% in the first quarter. Quarry LP now owns 2,110 shares of the technology company's stock worth $43,000 after buying an additional 1,507 shares in the last quarter. USA Financial Formulas grew its holdings in shares of TTM Technologies by 119.1% during the 1st quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock worth $46,000 after acquiring an additional 1,216 shares during the period. Sterling Capital Management LLC raised its position in shares of TTM Technologies by 808.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock worth $79,000 after acquiring an additional 2,831 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of TTM Technologies in the 4th quarter valued at approximately $83,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.