Zacks Research Upgrades TTM Technologies (NASDAQ:TTMI) to Strong-Buy

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

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

TTM Technologies Stock Performance

Shares of NASDAQ:TTMI traded up $1.08 during trading on Tuesday, hitting $99.07. 1,206,772 shares of the company traded hands, compared to its average volume of 2,635,349. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average is $76.69 and its 200-day moving average is $61.06. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 78.60 and a beta of 1.74. TTM Technologies has a one year low of $15.77 and a one year high of $106.68.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. TTM Technologies had a return on equity of 13.21% and a net margin of 4.74%.The business had revenue of $752.74 million during the quarter, compared to analyst estimates of $711.91 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities analysts predict that TTM Technologies will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at TTM Technologies

In other TTM Technologies news, Director Julie Spicer England sold 3,784 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $63.34, for a total transaction of $239,678.56. Following the completion of the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John G. Mayer sold 9,167 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $68.13, for a total transaction of $624,547.71. Following the completion of the sale, the director owned 165,140 shares of the company’s stock, valued at $11,250,988.20. The trade was a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 36,870 shares of company stock worth $2,520,245. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TTM Technologies

Several large investors have recently made changes to their positions in the business. Decker Retirement Planning Inc. bought a new stake in TTM Technologies in the third quarter valued at $2,963,000. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of TTM Technologies in the 3rd quarter valued at $54,148,000. JPMorgan Chase & Co. grew its holdings in shares of 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 during the last quarter. Oak Ridge Investments LLC acquired a new stake in shares of TTM Technologies during the 3rd quarter worth about $1,812,000. Finally, Assenagon Asset Management S.A. bought a new position in TTM Technologies during the 3rd quarter valued at about $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.