TTM Technologies (NASDAQ:TTMI) Stock Rating Lowered by Wall Street Zen

TTM Technologies (NASDAQ:TTMI) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the company. Truist Financial lifted their price objective on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of TTM Technologies in a research report on Tuesday, August 18th. B. Riley Financial upped their price target on TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings cut TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $214.25.

TTM Technologies Stock Up 0.2%

TTMI opened at $118.92 on Friday. The company has a market capitalization of $12.53 billion, a P/E ratio of 53.57 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. The firm’s fifty day moving average price is $140.48 and its two-hundred day moving average price is $137.03. TTM Technologies has a fifty-two week low of $42.69 and a fifty-two week high of $223.83.

TTM Technologies (NASDAQ:TTMI) last released 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. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. On average, analysts anticipate that TTM Technologies will post 4.26 EPS for the current year.

Insider Transactions at TTM Technologies

In other news, EVP Catherine A. Gridley sold 8,966 shares of TTM Technologies stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total value of $1,881,066.80. Following the completion of the sale, the executive vice president directly owned 69,679 shares of the company’s stock, valued at approximately $14,618,654.20. This trade represents a 11.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Douglas L. Soder sold 8,902 shares of the company’s 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 transaction, the executive vice president directly owned 208,245 shares in the company, valued at $43,687,718.55. This trade represents a 4.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,241 shares of company stock worth $20,911,975 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC bought a new stake in shares of TTM Technologies during the second quarter worth approximately $29,000. Kestra Advisory Services LLC bought a new stake in shares of TTM Technologies during the 4th quarter valued at $30,000. Truvestments Capital LLC acquired a new position in shares of TTM Technologies in the 4th quarter valued at $30,000. GoalVest Advisory LLC lifted its stake in shares of TTM Technologies by 456.7% in the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock valued at $31,000 after purchasing an additional 137 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of TTM Technologies by 36.2% during the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after buying an additional 87 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.