Stifel Financial Corp Acquires Shares of 23,193 TTM Technologies, Inc. (NASDAQ:TTMI)

Stifel Financial Corp bought a new position in TTM Technologies, Inc. (NASDAQ:TTMI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,193 shares of the technology company’s stock, valued at approximately $574,000.

A number of other institutional investors have also made changes to their positions in TTMI. USA Financial Formulas bought a new position in TTM Technologies during the fourth quarter worth $25,000. Smartleaf Asset Management LLC raised its holdings in shares of TTM Technologies by 670.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,220 shares during the period. GAMMA Investing LLC raised its holdings in shares of TTM Technologies by 27.7% during the fourth quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company’s stock worth $51,000 after purchasing an additional 443 shares during the period. Sterling Capital Management LLC lifted 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 buying an additional 2,831 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of TTM Technologies in the 4th quarter valued at about $83,000. 95.79% of the stock is currently owned by institutional investors.

Insider Activity at TTM Technologies

In other news, COO Philip Titterton sold 24,792 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total transaction of $633,683.52. Following the sale, the chief operating officer now directly owns 157,528 shares of the company’s stock, valued at $4,026,415.68. The trade was a 13.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel J. Weber sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.34, for a total transaction of $395,100.00. Following the completion of the transaction, the executive vice president now owns 95,153 shares of the company’s stock, valued at approximately $2,506,330.02. The trade was a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,600 shares of company stock valued at $1,310,642 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

TTM Technologies Stock Up 2.8%

TTMI stock opened at $26.88 on Monday. The stock has a market cap of $2.73 billion, a PE ratio of 49.78 and a beta of 1.20. The firm’s 50-day simple moving average is $21.16 and its 200 day simple moving average is $23.40. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $30.41. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. The company had revenue of $648.67 million during the quarter, compared to analysts’ expectations of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, sell-side analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies declared that its board has authorized a stock buyback plan on Friday, May 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

TTMI has been the topic of several research reports. B. Riley increased 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. Stifel Nicolaus started coverage on TTM Technologies in a report on Tuesday, February 11th. They set a “buy” rating and a $33.00 target price for the company. Needham & Company LLC raised their price target on TTM Technologies from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Truist Financial reduced their price objective on TTM Technologies from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, May 1st.

About TTM Technologies

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.