TTM Technologies (NASDAQ:TTMI) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of TTM Technologies (NASDAQ:TTMI) from a strong-buy rating to a buy rating in a research report released on Sunday morning.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $220.00 target price on shares of TTM Technologies in a report on Tuesday, August 18th. B. Riley Financial boosted their price target on shares of TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Stifel Nicolaus upped their price objective on shares of TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research note 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, Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $214.25.

TTM Technologies Price Performance

TTMI stock opened at $118.65 on Friday. The business has a 50 day moving average price of $142.53 and a 200 day moving average price of $136.85. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 53.45 and a beta of 2.15. TTM Technologies has a fifty-two week low of $42.69 and a fifty-two week high of $223.83. 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 (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, beating analysts’ consensus estimates 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 the consensus estimate of $962.04 million. During the same period in the prior year, the company posted $0.58 earnings per share. The firm’s quarterly revenue was up 37.4% compared to the same quarter last year. Equities research analysts anticipate that TTM Technologies will post 4.26 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Daniel J. Weber sold 2,915 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $609,060.10. Following the transaction, the executive vice president owned 88,250 shares of the company’s stock, valued at approximately $18,438,955. The trade was a 3.20% 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, EVP Shawn A. Powers sold 3,367 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $703,500.98. Following 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 position. The SEC filing for this sale provides additional information. Insiders sold 108,241 shares of company stock worth $20,911,975 over the last quarter. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On TTM Technologies

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of TTM Technologies in the second quarter valued at approximately $2,053,347,000. Rokos Capital Management LLP acquired a new stake in TTM Technologies during the 1st quarter valued at $13,031,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in TTM Technologies by 97.8% during the first 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in TTM Technologies during the fourth quarter worth $668,000. Finally, Renaissance Technologies LLC acquired a new position in shares of TTM Technologies in the first quarter worth $36,130,000. 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.