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

TTM Technologies, Inc. (NASDAQ:TTMI) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $203.00.

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

Insider Buying and Selling at TTM Technologies

In other news, CEO Edwin Roks acquired 10,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the transaction, the chief executive officer directly owned 64,814 shares of the company’s stock, valued at approximately $7,244,260.78. The trade was a 18.24% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dale Knecht sold 26,198 shares of the stock in a transaction on Monday, August 10th. The shares were 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 in the company, valued at approximately $5,699,596. This represents a 39.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 50,018 shares of company stock valued at $8,697,039. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Harbor Investment Advisory LLC purchased a new position in TTM Technologies in the 2nd quarter valued at about $29,000. GoalVest Advisory LLC increased its position in shares of TTM Technologies by 456.7% during the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of TTM Technologies during the second quarter worth approximately $47,000. Persistent Asset Partners Ltd acquired a new position in TTM Technologies in the 2nd quarter valued at $49,000. Finally, Parallel Advisors LLC lifted its holdings in TTM Technologies by 36.2% in the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock valued at $32,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

TTM Technologies Stock Up 2.8%

TTMI opened at $127.47 on Wednesday. The company has a market capitalization of $13.43 billion, a PE ratio of 57.42 and a beta of 2.15. The firm has a 50-day simple moving average of $124.87 and a two-hundred day simple moving average of $139.19. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. TTM Technologies has a 52 week low of $51.09 and a 52 week high of $223.83.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. During the same period in the prior year, the firm earned $0.58 EPS. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. Analysts forecast that TTM Technologies will post 4.26 earnings per share for the current fiscal year.

About TTM Technologies

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.