TTM Technologies (NASDAQ:TTMI – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.
TTMI has been the subject of several other research reports. Truist Financial upped 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. Needham & Company LLC decreased their target price on TTM Technologies from $220.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, September 21st. Wall Street Zen cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Finally, Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.00.
Check Out Our Latest Stock Report on TTM Technologies
TTM Technologies Stock Performance
TTM Technologies (NASDAQ:TTMI – Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. During the same period in the prior year, the company posted $0.58 EPS. The company’s revenue was up 37.4% compared to the same quarter last year. Analysts forecast that TTM Technologies will post 4.26 EPS for the current year.
Insider Activity at TTM Technologies
In other news, CEO Edwin Roks purchased 10,000 shares of TTM Technologies stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the purchase, the chief executive officer directly owned 64,814 shares of the company’s stock, valued at $7,244,260.78. This trade represents a 18.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Dale Knecht sold 26,198 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the sale, the senior vice president directly owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. The trade was a 39.49% decrease in their position. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in TTM Technologies by 39.0% in the second quarter. Envestnet Asset Management Inc. now owns 50,452 shares of the technology company’s stock valued at $9,436,000 after purchasing an additional 14,155 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of TTM Technologies during the second quarter worth about $197,000. Nykredit A S acquired a new position in shares of TTM Technologies in the second quarter valued at approximately $621,000. Allianz Asset Management GmbH increased its stake in shares of TTM Technologies by 10.4% in the second quarter. Allianz Asset Management GmbH now owns 3,269 shares of the technology company’s stock valued at $611,000 after buying an additional 308 shares during the period. Finally, HighTower Advisors LLC raised its holdings in TTM Technologies by 12.6% in the 2nd quarter. HighTower Advisors LLC now owns 10,388 shares of the technology company’s stock valued at $1,943,000 after buying an additional 1,160 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of technology solutions for the electronics industry. The company primarily produces printed circuit boards, including rigid, flexible, rigid-flex and high-density interconnect boards, as well as specialized radio-frequency and microwave components and assemblies.
TTM’s products and services support applications that require complex electronic circuitry and high reliability. Its customers operate in markets such as aerospace and defense, data-center computing, automotive, medical, industrial and instrumentation, and networking and communications.
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