TTM Technologies, Inc. (NASDAQ:TTMI) Stock Has Average Target Price of $173.25

by · The Markets Daily

Shares of TTM Technologies, Inc. (NASDAQ:TTMI – Get Free Report) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $173.25.

A number of equities research analysts have issued reports on TTMI shares. 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. Truist Financial dropped their target price on TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Stifel Nicolaus cut their price target on TTM Technologies from $205.00 to $165.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Zacks Research cut TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Wall Street Zen cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st.

Read Our Latest Research Report on TTMI

TTM Technologies Price Performance

Shares of NASDAQ:TTMI opened at $66.51 on Thursday. The firm has a market capitalization of $7.01 billion, a PE ratio of 26.50 and a beta of 2.25. The company has a quick ratio of 1.49, a current ratio of 1.67 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $108.96 and a two-hundred day moving average price of $126.91. TTM Technologies has a twelve month low of $55.44 and a twelve month high of $223.83.

TTM Technologies (NASDAQ:TTMI – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.21. The company 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 company’s quarterly revenue was up 59.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Equities analysts forecast that TTM Technologies will post 4.36 EPS for the current year.

Insider Buying and Selling

In other TTM Technologies news, SVP Dale Knecht sold 26,198 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the completion of the transaction, the senior vice president owned 40,138 shares in the company, valued at $5,699,596. This trade represents a 39.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edwin Roks bought 5,000 shares of TTM Technologies stock in a transaction on Wednesday, October 28th. The shares were bought at an average cost of $88.07 per share, with a total value of $440,350.00. Following the acquisition, the chief executive officer directly owned 64,483 shares in the company, valued at approximately $5,679,017.81. This represents a 8.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 35,000 shares of company stock valued at $3,092,050. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

A number of large investors have recently modified their holdings of TTMI. BlackRock Inc. bought a new stake in TTM Technologies during the 2nd quarter worth approximately $2,053,347,000. Wellington Management Group LLP boosted its holdings in TTM Technologies by 61.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock valued at $424,237,000 after purchasing an additional 867,255 shares during the period. Atalan Capital Partners LP bought a new position in TTM Technologies in the 2nd quarter valued at $189,234,000. Allspring Global Investments Holdings LLC boosted its holdings in TTM Technologies by 40.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 768,992 shares of the technology company’s stock valued at $97,277,000 after purchasing an additional 221,426 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of TTM Technologies by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 715,543 shares of the technology company’s stock valued at $69,708,000 after purchasing an additional 11,610 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Company Profile

(Get Free Report)

TTM Technologies, Inc designs and manufactures printed circuit boards (PCBs) and radio-frequency (RF) and microwave components and assemblies. Its products support the development and operation of electronic systems used in communications, data infrastructure, aerospace and defense, automotive, medical, and industrial applications.

The company provides engineering and manufacturing services, including PCB design support, prototyping, and production. TTM serves customers around the world through operations in North America and Asia.

Founded in 1998, TTM Technologies is headquartered in Santa Ana, California.

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