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

TTM Technologies (NASDAQ:TTMI) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Several other research analysts also recently weighed in on TTMI. Weiss Ratings upgraded shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Stifel Nicolaus raised their price target on shares of TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Zacks Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Truist Financial boosted their price objective on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, B. Riley Financial upped their price objective on shares of TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $214.25.

TTM Technologies Stock Performance

Shares of NASDAQ:TTMI opened at $110.54 on Friday. The business’s 50-day simple moving average is $151.67 and its 200 day simple moving average is $136.21. The company has a market cap of $11.65 billion, a P/E ratio of 49.79 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. TTM Technologies has a one year low of $40.46 and a one year high of $223.83.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The firm 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 business earned $0.58 EPS. TTM Technologies’s quarterly revenue was up 37.4% compared to the same quarter last year. On average, sell-side analysts forecast that TTM Technologies will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Daniel J. Weber sold 8,533 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,790,223.40. Following the completion of the transaction, the executive vice president directly owned 86,088 shares in the company, valued at approximately $18,061,262.40. This represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Catherine A. Gridley sold 8,966 shares of the firm’s stock in a transaction that occurred on 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 directly owned 69,679 shares of the company’s stock, valued at $14,618,654.20. The trade was a 11.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,241 shares of company stock worth $20,911,975 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TTMI. Royal Bank of Canada lifted its position in shares of TTM Technologies by 66.6% during the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company’s stock worth $543,000 after purchasing an additional 10,565 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in TTM Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company’s stock valued at $1,232,000 after buying an additional 2,632 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in TTM Technologies by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company’s stock valued at $34,989,000 after buying an additional 115,766 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in TTM Technologies by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company’s stock valued at $3,908,000 after buying an additional 13,691 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in TTM Technologies by 1,150.2% during the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company’s stock valued at $2,869,000 after buying an additional 128,700 shares in the last quarter. 95.79% of the stock is 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.