TTM Technologies (NASDAQ:TTMI) Stock Dropped to Buy by Wall Street Zen

Wall Street Zen lowered shares of TTM Technologies (NASDAQ:TTMI – Free Report) from a strong-buy rating to a buy rating in a research report released on Sunday,Wall Street Zen reports.

TTMI has been the subject of several other research reports. Weiss Ratings cut TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Zacks Research lowered shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Stifel Nicolaus decreased their target price on TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Truist Financial lowered their price target on shares of TTM Technologies from $231.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Finally, Needham & Company LLC lowered their target price on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.25.

Read Our Latest Research Report on TTMI

TTM Technologies Price Performance

NASDAQ:TTMI opened at $82.94 on Friday. The company’s fifty day moving average price is $113.29 and its 200-day moving average price is $127.55. The firm has a market capitalization of $8.74 billion, a P/E ratio of 33.04 and a beta of 2.25. TTM Technologies has a 1-year low of $55.44 and a 1-year high of $223.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.67 and a quick ratio of 1.49.

TTM Technologies (NASDAQ:TTMI – Get Free Report) last released its earnings results on Thursday, October 22nd. The technology company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.21. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The business’s revenue was up 59.9% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. As a group, equities research analysts anticipate that TTM Technologies will post 4.36 EPS for the current year.

Insiders Place Their Bets

In other TTM Technologies news, Director Wajid Ali purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 28th. The stock was bought at an average cost of $90.25 per share, for a total transaction of $902,500.00. Following the purchase, the director directly owned 35,835 shares in the company, valued at $3,234,108.75. The trade was a 38.71% increase 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, SVP Dale Knecht sold 26,198 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the transaction, the senior vice president owned 40,138 shares in the company, valued at approximately $5,699,596. The trade was a 39.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have acquired 25,000 shares of company stock valued at $2,460,550. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TTM Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in TTM Technologies by 1.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,340 shares of the technology company’s stock valued at $812,000 after purchasing an additional 75 shares during the period. Parallel Advisors LLC grew its stake in TTM Technologies by 36.2% during the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock valued at $32,000 after purchasing an additional 87 shares during the last quarter. North Dakota State Investment Board grew its position in TTM Technologies by 4.0% during the third quarter. North Dakota State Investment Board now owns 3,121 shares of the technology company’s stock valued at $383,000 after buying an additional 119 shares during the period. GoalVest Advisory LLC increased its stake in shares of TTM Technologies by 456.7% during the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Finally, Elm3 Financial Group LLC increased its stake in shares of TTM Technologies by 7.1% in the 3rd quarter. Elm3 Financial Group LLC now owns 2,142 shares of the technology company’s stock worth $263,000 after acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

(Get Free Report)

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.

Further Reading

Analyst Recommendations for TTM Technologies (NASDAQ:TTMI)

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