Brokerages Set TTM Technologies, Inc. (NASDAQ:TTMI) PT at $214.25

TTM Technologies, Inc. (NASDAQ:TTMI) has received an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $214.25.

A number of research analysts recently weighed in on TTMI shares. Weiss Ratings lowered TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Stifel Nicolaus raised their price target on TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of TTM Technologies in a research report on Tuesday, August 18th. Truist Financial lifted their price objective on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th.

TTM Technologies Stock Performance

Shares of NASDAQ:TTMI opened at $117.97 on Wednesday. TTM Technologies has a 52-week low of $51.09 and a 52-week high of $223.83. 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 company has a market capitalization of $12.43 billion, a P/E ratio of 53.14 and a beta of 2.15. The company has a 50-day simple moving average of $125.41 and a 200 day simple moving average of $138.89.

TTM Technologies (NASDAQ:TTMI) last announced 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. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The business’s revenue was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. Sell-side analysts forecast that TTM Technologies will post 4.26 earnings per share for the current year.

Insider Buying and Selling at TTM Technologies

In related news, SVP Dale Knecht sold 26,198 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $142.00, for a total value of $3,720,116.00. Following the transaction, the senior vice president owned 40,138 shares in the company, valued at approximately $5,699,596. This represents a 39.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shawn Powers sold 3,367 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $208.94, for a total transaction of $703,500.98. Following the completion of the transaction, the executive vice president directly owned 120,801 shares in the company, valued at approximately $25,240,160.94. This represents a 2.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 108,241 shares of company stock worth $20,911,975 in the last ninety days. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

A number of large investors have recently made changes to their positions in TTMI. Integrated Wealth Concepts LLC acquired a new stake in TTM Technologies during the 2nd quarter worth approximately $197,000. Nykredit A S acquired a new position in TTM Technologies in the 2nd quarter valued at $621,000. Allianz Asset Management GmbH grew its holdings in TTM Technologies by 10.4% in the 2nd 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 in the last quarter. HighTower Advisors LLC increased its position in TTM Technologies by 12.6% during the 2nd quarter. HighTower Advisors LLC now owns 10,388 shares of the technology company’s stock worth $1,943,000 after buying an additional 1,160 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in TTM Technologies during the 2nd quarter worth $3,666,000. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Company Profile

TTM Technologies, Inc (NASDAQ: TTMI) is a global manufacturer of technology solutions for electronic devices and systems. The company primarily produces printed circuit boards (PCBs), including high-density interconnect, flexible and rigid-flex boards, radio-frequency and microwave circuits, and other advanced PCB technologies.

TTM also provides engineering, prototype development, testing and assembly services that support the design and production of electronic products. Its solutions are used in aerospace and defense, data center computing, automotive, medical, industrial, instrumentation and other communications-related applications.

The company serves customers through manufacturing and engineering operations in North America and Asia.