TTM Technologies, Inc. (NASDAQ:TTMI) Given Average Rating of “Buy” by Brokerages

Shares of TTM Technologies, Inc. (NASDAQ:TTMI) have been given an average rating of “Buy” by the six brokerages that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $214.25.

A number of research firms recently weighed in on TTMI. Zacks Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. B. Riley Financial lifted their price target on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Stifel Nicolaus boosted their price target on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of TTM Technologies in a report on Tuesday.

Insider Transactions at TTM Technologies

In other news, EVP Catherine A. Gridley sold 8,966 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the completion of the transaction, the executive vice president directly owned 69,679 shares of the company’s stock, valued at approximately $14,618,654.20. This represents a 11.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Douglas L. Soder sold 8,902 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total value of $1,867,550.58. Following the transaction, the executive vice president directly owned 208,245 shares of the company’s stock, valued at approximately $43,687,718.55. This represents a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 108,241 shares of company stock valued at $20,911,975 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Rokos Capital Management LLP purchased a new position in TTM Technologies in the first quarter valued at approximately $13,031,000. BlackRock Inc. purchased a new stake in shares of TTM Technologies during the 2nd quarter worth approximately $2,053,347,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of TTM Technologies by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock worth $19,270,000 after buying an additional 97,799 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of TTM Technologies in the 4th quarter valued at $668,000. Finally, Geode Capital Management LLC boosted its holdings in shares of TTM Technologies by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock valued at $184,119,000 after buying an additional 81,588 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

TTM Technologies Price Performance

Shares of NASDAQ TTMI opened at $110.54 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 49.79 and a beta of 2.14. The stock’s 50-day moving average is $151.67 and its two-hundred day moving average is $135.98. TTM Technologies has a 1-year low of $40.46 and a 1-year high of $223.83.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $962.04 million. During the same quarter last year, the business posted $0.58 EPS. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. Analysts forecast that TTM Technologies will post 4.26 EPS for the current fiscal year.

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.