TTM Technologies, Inc. (NASDAQ:TTMI) Receives $214.25 Average PT from Brokerages

Shares of TTM Technologies, Inc. (NASDAQ:TTMI) have earned a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $214.25.

A number of brokerages have weighed in on TTMI. Stifel Nicolaus upped their price objective 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. Wall Street Zen upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 22nd. Truist Financial upped their price target on TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of TTM Technologies in a research report on Tuesday, August 18th. Finally, Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th.

Insider Activity

In related news, EVP Douglas L. Soder sold 8,902 shares of TTM Technologies stock in a transaction on Tuesday, June 23rd. The shares were 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 of the company’s stock, valued at approximately $43,687,718.55. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dale Martin Knecht sold 26,198 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the sale, the senior vice president directly owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. The trade was a 39.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 108,241 shares of company stock worth $20,911,975. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of TTM Technologies by 12.6% in the second quarter. HighTower Advisors LLC now owns 10,388 shares of the technology company’s stock valued at $1,943,000 after acquiring an additional 1,160 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of TTM Technologies during the second quarter worth approximately $3,666,000. California State Teachers Retirement System increased its position in shares of TTM Technologies by 18,244.6% during the second quarter. California State Teachers Retirement System now owns 21,964,564 shares of the technology company’s stock worth $4,107,813,000 after purchasing an additional 21,844,831 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in TTM Technologies in the 2nd quarter valued at $731,000. Finally, Styrax Capital LP acquired a new position in TTM Technologies in the 2nd quarter valued at $46,755,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

TTM Technologies Trading Down 4.9%

Shares of NASDAQ:TTMI opened at $118.65 on Friday. TTM Technologies has a 12-month low of $42.69 and a 12-month high of $223.83. The company has a market capitalization of $12.50 billion, a PE ratio of 53.45 and a beta of 2.14. The business has a 50 day moving average of $142.53 and a two-hundred day moving average of $136.58. 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 data on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. During the same quarter last year, the company earned $0.58 EPS. The business’s revenue was up 37.4% on a year-over-year basis. As a group, analysts forecast that TTM Technologies will post 4.26 EPS for the current year.

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.