TTM Technologies (NASDAQ:TTMI) Stock Rating Upgraded by Zacks Research

TTM Technologies (NASDAQ:TTMI) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also weighed in on TTMI. Truist Financial set a $113.00 price objective on shares of TTM Technologies in a research report on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of TTM Technologies in a report on Wednesday, January 21st. B. Riley boosted their target price on shares of TTM Technologies from $81.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Needham & Company LLC lifted their target price on TTM Technologies from $79.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Finally, Wall Street Zen cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 19th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $99.00.

TTM Technologies Stock Up 3.6%

TTMI stock opened at $97.99 on Tuesday. The company has a 50 day moving average of $76.69 and a two-hundred day moving average of $61.06. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 77.77 and a beta of 1.74. TTM Technologies has a 12-month low of $15.77 and a 12-month high of $106.68. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 0.54.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. TTM Technologies had a net margin of 4.74% and a return on equity of 13.21%. The business had revenue of $752.74 million for the quarter, compared to the consensus estimate of $711.91 million. During the same period in the prior year, the business posted $0.41 earnings per share. TTM Technologies’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert P. Farrell sold 643 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.98, for a total transaction of $43,068.14. Following the transaction, the insider owned 19,406 shares of the company’s stock, valued at $1,299,813.88. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julie Spicer England sold 3,784 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $63.34, for a total value of $239,678.56. Following the sale, the director directly owned 106,541 shares of the company’s stock, valued at $6,748,306.94. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 36,870 shares of company stock worth $2,520,245. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Decker Retirement Planning Inc. bought a new position in TTM Technologies in the third quarter valued at approximately $2,963,000. FengHe Fund Management Pte. Ltd. acquired a new stake in TTM Technologies during the 3rd quarter worth approximately $54,148,000. JPMorgan Chase & Co. raised its stake in TTM Technologies by 9.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 652,034 shares of the technology company’s stock worth $26,616,000 after purchasing an additional 57,606 shares in the last quarter. Oak Ridge Investments LLC bought a new position in shares of TTM Technologies in the third quarter worth $1,812,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of TTM Technologies during the 3rd quarter worth approximately $4,002,000. Institutional investors and hedge funds 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.