TTM Technologies (NASDAQ:TTMI) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued reports about the company. Needham & Company LLC boosted their price objective on TTM Technologies from $79.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Wall Street Zen lowered shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TTM Technologies in a research note on Wednesday, January 21st. Truist Financial set a $113.00 target price on TTM Technologies in a research note on Wednesday, January 14th. Finally, B. Riley boosted their target price on TTM Technologies from $81.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $99.00.

TTM Technologies Price Performance

TTMI stock traded up $0.58 during midday trading on Tuesday, reaching $98.57. 1,070,600 shares of the company’s stock traded hands, compared to its average volume of 2,626,268. The company has a 50-day simple moving average of $76.69 and a two-hundred day simple moving average of $61.06. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 0.54. TTM Technologies has a 1-year low of $15.77 and a 1-year high of $106.68. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 77.82 and a beta of 1.74.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. TTM Technologies had a net margin of 4.74% and a return on equity of 13.21%. The business had revenue of $752.74 million for the quarter, compared to the consensus estimate of $711.91 million. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts anticipate that TTM Technologies will post 1.76 earnings per share for the current year.

Insider Buying and Selling at TTM Technologies

In other news, Director Thomas T. Edman sold 16,800 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $69.75, for a total transaction of $1,171,800.00. Following the sale, the director owned 804,923 shares in the company, valued at $56,143,379.25. This represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert P. Farrell sold 643 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.98, for a total transaction of $43,068.14. Following the sale, the insider directly owned 19,406 shares in the company, valued at $1,299,813.88. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,870 shares of company stock valued at $2,520,245 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Optiver Holding B.V. grew its position in TTM Technologies by 66.4% during the third quarter. Optiver Holding B.V. now owns 426 shares of the technology company’s stock worth $25,000 after buying an additional 170 shares in the last quarter. Bessemer Group Inc. increased its holdings in TTM Technologies by 448.8% in the 3rd quarter. Bessemer Group Inc. now owns 461 shares of the technology company’s stock valued at $27,000 after buying an additional 377 shares during the period. Rakuten Securities Inc. acquired a new position in shares of TTM Technologies in the 4th quarter valued at approximately $32,000. Wolff Wiese Magana LLC bought a new position in TTM Technologies in the fourth quarter valued at approximately $34,000. Finally, Salomon & Ludwin LLC bought a new stake in TTM Technologies during the third quarter worth $39,000. 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.