TTM Technologies, Inc. (NASDAQ:TTMI) Stock Has Consensus Price Target of $203.00 According to Analysts

TTM Technologies, Inc. (NASDAQ:TTMI) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $204.75.

Several equities analysts recently commented on TTMI shares. Truist Financial boosted their target price on TTM Technologies from $224.00 to $231.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC decreased their target price on TTM Technologies from $220.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Zacks Research cut TTM Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Wall Street Zen cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Finally, Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th.

Insider Activity at TTM Technologies

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

Hedge Funds Weigh In On TTM Technologies

A number of institutional investors have recently made changes to their positions in TTMI. BlackRock Inc. bought a new stake in shares of TTM Technologies during the 2nd quarter worth $2,053,347,000. Castle Hook Partners LP purchased a new position in TTM Technologies in the fourth quarter worth $133,351,000. Atalan Capital Partners LP bought a new position in TTM Technologies in the second quarter valued at $189,234,000. Wellington Management Group LLP increased its stake in TTM Technologies by 61.9% in the second quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock valued at $424,237,000 after acquiring an additional 867,255 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in TTM Technologies in the second quarter valued at $114,470,000. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Stock Down 1.9%

TTMI opened at $101.36 on Friday. The company has a fifty day moving average price of $122.48 and a 200-day moving average price of $142.23. The firm has a market capitalization of $10.68 billion, a P/E ratio of 45.66 and a beta of 2.14. 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 one year low of $54.43 and a one year high of $223.83.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results 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 firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The business’s quarterly revenue was up 37.4% on a year-over-year basis. Equities research analysts expect that TTM Technologies will post 4.24 earnings per share for the current fiscal year.

TTM Technologies Company Profile

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.