TTM Technologies (NASDAQ:TTMI) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of TTM Technologies (NASDAQ:TTMI) from a strong-buy rating to a buy rating in a report released on Sunday,Wall Street Zen reports.

TTMI has been the subject of a number of other research reports. Truist Financial increased their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of TTM Technologies in a report on Tuesday, August 18th. Zacks Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Weiss Ratings cut shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Finally, Stifel Nicolaus upped their price target on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $214.25.

TTM Technologies Stock Down 3.0%

NASDAQ TTMI opened at $115.33 on Friday. The business has a fifty day moving average price of $138.52 and a two-hundred day moving average price of $137.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. TTM Technologies has a fifty-two week low of $42.69 and a fifty-two week high of $223.83. The stock has a market capitalization of $12.15 billion, a PE ratio of 51.95 and a beta of 2.15.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $962.04 million. During the same quarter last year, the company posted $0.58 EPS. The company’s revenue for the quarter was up 37.4% compared to the same quarter last year. Equities analysts expect that TTM Technologies will post 4.26 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In related news, SVP Dale Martin Knecht sold 26,198 shares of TTM Technologies stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the transaction, the senior vice president directly owned 40,138 shares of the company’s stock, valued at $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Douglas L. Soder sold 8,902 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 208,245 shares in the company, valued at $43,687,718.55. The trade was a 4.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 108,241 shares of company stock valued at $20,911,975 over the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 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 buying an additional 21,844,831 shares during the period. BlackRock Inc. acquired a new position in TTM Technologies in the second quarter valued at $2,053,347,000. Polar Capital Holdings Plc acquired a new position in TTM Technologies in the third quarter valued at $176,376,000. Invesco Ltd. boosted its position in TTM Technologies by 127.7% during the third quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company’s stock valued at $277,281,000 after acquiring an additional 2,699,494 shares during the last quarter. Finally, Whale Rock Capital Management LLC grew its holdings in TTM Technologies by 112.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company’s stock worth $295,066,000 after acquiring an additional 2,260,035 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.