TTM Technologies, Inc. (NASDAQ:TTMI) Stock Has Average Price Target of $173.25

TTM Technologies, Inc. (NASDAQ:TTMI) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $173.25.

Several brokerages recently issued reports on TTMI. Stifel Nicolaus cut their target price on shares of TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Needham & Company LLC decreased their price target on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Zacks Research lowered shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings cut shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Finally, Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st.

Insider Activity at TTM Technologies

In other news, Director Philip G. Franklin purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were acquired at an average cost of $61.92 per share, with a total value of $309,600.00. Following the purchase, the director owned 161,725 shares in the company, valued at $10,014,012. This represents a 3.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edwin Roks purchased 5,000 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was purchased at an average price of $88.07 per share, for a total transaction of $440,350.00. Following the acquisition, the chief executive officer owned 64,483 shares of the company’s stock, valued at approximately $5,679,017.81. This represents a 8.41% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 40,000 shares of company stock valued at $3,401,650 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

Large investors have recently modified their holdings of the company. Harbor Investment Advisory LLC bought a new position in shares of TTM Technologies in the second quarter valued at $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 acquiring an additional 137 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of TTM Technologies during the second quarter worth about $47,000. Root Financial Partners LLC bought a new stake in shares of TTM Technologies during the third quarter worth about $31,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of TTM Technologies in the 2nd quarter worth about $49,000. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Stock Up 13.3%

Shares of NASDAQ:TTMI opened at $75.33 on Thursday. TTM Technologies has a 1 year low of $55.44 and a 1 year high of $223.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.67 and a quick ratio of 1.49. The business’s 50-day moving average is $108.10 and its 200-day moving average is $126.78. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 30.01 and a beta of 2.25.

TTM Technologies (NASDAQ:TTMI) last released its earnings results on Thursday, October 22nd. The technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.25 by $0.21. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. TTM Technologies had a return on equity of 19.19% and a net margin of 7.01%. The firm’s revenue was up 59.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. Equities research analysts predict that TTM Technologies will post 4.36 earnings per share for the current year.

TTM Technologies Company Profile

TTM Technologies, Inc designs and manufactures printed circuit boards (PCBs) and radio-frequency (RF) and microwave components and assemblies. Its products support the development and operation of electronic systems used in communications, data infrastructure, aerospace and defense, automotive, medical, and industrial applications.

The company provides engineering and manufacturing services, including PCB design support, prototyping, and production. TTM serves customers around the world through operations in North America and Asia.

Founded in 1998, TTM Technologies is headquartered in Santa Ana, California.