TTM Technologies (NASDAQ:TTMI) Rating Increased to Strong-Buy at Wall Street Zen

by · The Cerbat Gem

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

A number of other equities analysts have also recently issued reports on the company. Truist Financial increased their target price on TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Stifel Nicolaus upped their price objective on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. B. Riley Financial increased their price objective on TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of TTM Technologies in a research report on Tuesday, August 18th. Finally, Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, TTM Technologies presently has an average rating of “Buy” and an average target price of $214.25.

View Our Latest Analysis on TTMI

TTM Technologies Price Performance

NASDAQ TTMI opened at $110.54 on Friday. 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 stock has a market cap of $11.65 billion, a price-to-earnings ratio of 49.79 and a beta of 2.14. The business has a 50 day simple moving average of $151.67 and a 200 day simple moving average of $135.98. TTM Technologies has a 52-week low of $40.46 and a 52-week high of $223.83.

TTM Technologies (NASDAQ:TTMI – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $962.04 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. Analysts anticipate that TTM Technologies will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Douglas L. Soder sold 8,902 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total value of $1,867,550.58. Following the sale, the executive vice president owned 208,245 shares in the company, valued at approximately $43,687,718.55. This represents a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Catherine A. Gridley sold 8,966 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the sale, the executive vice president owned 69,679 shares of the company’s stock, valued at approximately $14,618,654.20. This represents a 11.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 108,241 shares of company stock worth $20,911,975. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of TTM Technologies

Several institutional investors have recently added to or reduced their stakes in TTMI. BlackRock Inc. bought a new position in shares of TTM Technologies during the second quarter worth approximately $2,053,347,000. Rokos Capital Management LLP acquired a new position in shares of TTM Technologies in the 1st quarter valued at approximately $13,031,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of 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 valued at $19,270,000 after buying an additional 97,799 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of TTM Technologies during the 4th quarter worth approximately $668,000. Finally, Renaissance Technologies LLC bought a new stake in shares of TTM Technologies during the 1st quarter worth approximately $36,130,000. 95.79% of the stock is currently owned by institutional investors.

About TTM Technologies

(Get Free Report)

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.

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