TTM Technologies (NASDAQ:TTMI) Stock Bumped Down to “Hold” by Zacks Research

Zacks Research downgraded shares of TTM Technologies (NASDAQ:TTMI) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks reports.

A number of other equities analysts have also recently weighed in on the stock. Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Needham & Company LLC reduced their price objective on shares of TTM Technologies from $220.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, September 21st. Weiss Ratings downgraded shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Finally, Truist Financial upped their target price on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, TTM Technologies presently has an average rating of “Moderate Buy” and an average target price of $203.00.

TTM Technologies Stock Down 0.3%

TTM Technologies stock opened at $132.71 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. TTM Technologies has a 1-year low of $53.36 and a 1-year high of $223.83. The company has a market cap of $13.98 billion, a PE ratio of 59.78 and a beta of 2.14. The stock’s 50 day moving average price is $123.61 and its 200 day moving average price is $141.51.

TTM Technologies (NASDAQ:TTMI) last released 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 firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $962.04 million. During the same quarter in the prior year, the business posted $0.58 earnings per share. TTM Technologies’s revenue was up 37.4% compared to the same quarter last year. On average, sell-side analysts predict that TTM Technologies will post 4.26 EPS for the current fiscal year.

Insider Activity

In other TTM Technologies news, SVP Dale Knecht sold 26,198 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 40,138 shares of the company’s stock, valued at $5,699,596. This trade represents a 39.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edwin Roks purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the purchase, the chief executive officer directly owned 64,814 shares of the company’s stock, valued at $7,244,260.78. The trade was a 18.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TTMI. GAMMA Investing LLC boosted its stake in TTM Technologies by 1.8% in the second 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 raised 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 valued at $32,000 after acquiring an additional 87 shares during the last quarter. 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. Fifth Third Wealth Advisors LLC lifted its stake in shares of TTM Technologies by 4.5% in the 1st 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. Finally, EverSource Wealth Advisors LLC boosted its position in shares of TTM Technologies by 12.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,347 shares of the technology company’s stock worth $131,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

About TTM Technologies

TTM Technologies, Inc is a manufacturer of technology solutions for the electronics industry. The company primarily produces printed circuit boards, including rigid, flexible, rigid-flex and high-density interconnect boards, as well as specialized radio-frequency and microwave components and assemblies.

TTM’s products and services support applications that require complex electronic circuitry and high reliability. Its customers operate in markets such as aerospace and defense, data-center computing, automotive, medical, industrial and instrumentation, and networking and communications.