TTM Technologies (NASDAQ:TTMI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TTM Technologies (NASDAQ:TTMIFree Report) from a hold rating to a buy rating in a research note published on Saturday.

A number of other analysts have also recently commented on the stock. Needham & Company LLC boosted their target price on shares of TTM Technologies from $208.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Zacks Research cut shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Stifel Nicolaus boosted their price objective on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Truist Financial raised their target price on shares of TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, TTM Technologies presently has an average rating of “Moderate Buy” and an average price target of $214.25.

Read Our Latest Stock Report on TTM Technologies

TTM Technologies Stock Down 5.2%

TTMI stock opened at $130.08 on Friday. TTM Technologies has a fifty-two week low of $39.20 and a fifty-two week high of $223.83. The business’s 50 day moving average price is $161.11 and its two-hundred day moving average price is $134.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 58.59 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMIGet Free Report) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The business’s revenue was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. As a group, analysts forecast that TTM Technologies will post 3.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TTM Technologies news, EVP Shawn A. Powers sold 9,856 shares of TTM Technologies stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total value of $2,067,788.80. Following the completion of the transaction, the executive vice president directly owned 119,268 shares of the company’s stock, valued at approximately $25,022,426.40. The trade was a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel J. Weber sold 8,533 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,790,223.40. Following the completion of the transaction, the executive vice president owned 86,088 shares in the company, valued at approximately $18,061,262.40. This represents a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 108,241 shares of company stock valued at $20,911,975. 1.30% of the stock is owned by company insiders.

Institutional Trading of TTM Technologies

Several institutional investors have recently added to or reduced their stakes in TTMI. Rokos Capital Management LLP purchased a new stake in TTM Technologies in the first quarter worth approximately $13,031,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in TTM Technologies by 97.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock worth $19,270,000 after purchasing an additional 97,799 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in TTM Technologies during the 4th quarter valued at $668,000. Geode Capital Management LLC raised its stake in TTM Technologies by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock valued at $184,119,000 after buying an additional 81,588 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of TTM Technologies during the 1st quarter valued at $36,130,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

About TTM Technologies

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TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.

Further Reading

Analyst Recommendations for TTM Technologies (NASDAQ:TTMI)

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