TTM Technologies (NASDAQ:TTMI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TTM Technologies (NASDAQ:TTMI) from a buy rating to a strong-buy rating in a research note released on Saturday.

TTMI has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of TTM Technologies in a research note on Tuesday, August 18th. Zacks Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Stifel Nicolaus raised their price objective on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Truist Financial raised 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, Weiss Ratings raised TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, TTM Technologies currently has an average rating of “Buy” and an average target price of $214.25.

TTM Technologies Stock Performance

Shares of TTM Technologies stock opened at $107.12 on Friday. 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 $42.69 and a 52 week high of $223.83. The firm’s 50 day moving average is $149.68 and its two-hundred day moving average is $136.21. The firm has a market capitalization of $11.29 billion, a P/E ratio of 48.25 and a beta of 2.15.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $962.04 million. During the same quarter in the previous year, the firm earned $0.58 EPS. The company’s revenue was up 37.4% compared to the same quarter last year. Research analysts forecast that TTM Technologies will post 4.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Catherine A. Gridley sold 8,966 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were 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 owned 69,679 shares in the company, valued at $14,618,654.20. This represents a 11.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dale Martin Knecht sold 26,198 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the sale, the senior vice president owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. This represents a 39.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 108,241 shares of company stock worth $20,911,975. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in TTM Technologies by 1.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,340 shares of the technology company’s stock valued at $812,000 after acquiring an additional 75 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of 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 during the last quarter. Lido Advisors LLC grew its stake in shares of TTM Technologies by 1.5% in the 4th quarter. Lido Advisors LLC now owns 8,013 shares of the technology company’s stock valued at $553,000 after purchasing an additional 116 shares during the last quarter. GoalVest Advisory LLC increased its holdings in shares of TTM Technologies by 456.7% in the second 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, Fifth Third Wealth Advisors LLC increased its holdings in shares of TTM Technologies by 4.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,289 shares of the technology company’s stock valued at $320,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

About TTM Technologies

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.