TTM Technologies (NASDAQ:TTMI) Raised to “Strong-Buy” at Zacks Research

TTM Technologies (NASDAQ:TTMI) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on TTMI. Weiss Ratings raised shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Stifel Nicolaus boosted their price target on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Truist Financial upped their price objective 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. Wall Street Zen upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC lifted their target price on shares of TTM Technologies from $208.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, TTM Technologies presently has a consensus rating of “Buy” and an average price target of $214.25.

TTM Technologies Stock Up 0.6%

Shares of TTMI opened at $138.88 on Wednesday. The stock’s 50-day moving average price is $158.18 and its two-hundred day moving average price is $135.06. TTM Technologies has a 12 month low of $39.20 and a 12 month high of $223.83. The company has a market capitalization of $14.63 billion, a PE ratio of 62.56 and a beta of 2.14. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

TTM Technologies (NASDAQ:TTMI) last issued 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 return on equity of 15.67% and a net margin of 7.01%.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 firm posted $0.58 earnings per share. The business’s quarterly revenue was up 37.4% on a year-over-year basis. On average, analysts anticipate that TTM Technologies will post 4.26 EPS for the current year.

Insiders Place Their Bets

In other TTM Technologies news, EVP Douglas L. Soder sold 2,874 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $600,493.56. Following the transaction, the executive vice president directly owned 210,634 shares of the company’s stock, valued at approximately $44,009,867.96. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shawn A. Powers sold 3,367 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $703,500.98. Following the transaction, the executive vice president owned 120,801 shares in the company, valued at $25,240,160.94. The trade was a 2.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 108,241 shares of company stock valued at $20,911,975 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

A number of large investors have recently bought and sold shares of the stock. Rokos Capital Management LLP bought a new stake in TTM Technologies during the 1st quarter valued at $13,031,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of TTM Technologies by 97.8% in the first 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 acquired a new position in shares of TTM Technologies during the fourth quarter valued at about $668,000. Geode Capital Management LLC increased its position in shares of TTM Technologies by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock worth $184,119,000 after acquiring an additional 81,588 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of TTM Technologies during the first quarter worth about $36,130,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

TTM Technologies Company Profile

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.