Zacks Research Upgrades TTM Technologies (NASDAQ:TTMI) to “Strong-Buy”

TTM Technologies (NASDAQ:TTMI) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also weighed in on TTMI. Weiss Ratings upgraded shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Stifel Nicolaus boosted their price target on TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, May 28th. 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. Truist Financial increased their price objective on TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Needham & Company LLC lifted their price objective on TTM Technologies from $208.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $214.25.

TTM Technologies Trading Up 0.6%

NASDAQ:TTMI opened at $138.88 on Wednesday. The firm has a market capitalization of $14.63 billion, a P/E ratio of 62.56 and a beta of 2.14. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $158.18 and a 200 day moving average of $135.06. TTM Technologies has a 52 week low of $39.20 and a 52 week high of $223.83.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $962.04 million. During the same quarter last year, the firm earned $0.58 EPS. The company’s revenue was up 37.4% on a year-over-year basis. On average, research analysts predict that TTM Technologies will post 4.26 earnings per share for the current year.

Insider Transactions at TTM Technologies

In related news, EVP Douglas L. Soder sold 2,874 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $600,493.56. Following the completion of the transaction, the executive vice president directly owned 210,634 shares of the company’s stock, valued at $44,009,867.96. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Shawn A. Powers sold 3,367 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $703,500.98. Following the completion of the sale, the executive vice president owned 120,801 shares of the company’s stock, valued at $25,240,160.94. This trade represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 108,241 shares of company stock worth $20,911,975. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TTMI. Royal Bank of Canada boosted its position in shares of TTM Technologies by 66.6% during the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company’s stock valued at $543,000 after purchasing an additional 10,565 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TTM Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company’s stock worth $1,232,000 after buying an additional 2,632 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of TTM Technologies by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company’s stock worth $34,989,000 after acquiring an additional 115,766 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in TTM Technologies by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company’s stock valued at $3,908,000 after acquiring an additional 13,691 shares during the period. Finally, Jane Street Group LLC boosted its stake in TTM Technologies by 1,150.2% during the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company’s stock worth $2,869,000 after acquiring an additional 128,700 shares in the last quarter. Institutional investors 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.