TTM Technologies, Inc. (NASDAQ:TTMI) Stock Has Average Target Price of $173.25 According to Analysts

Shares of TTM Technologies, Inc. (NASDAQ:TTMI) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $173.25.

TTMI has been the topic of a number of recent analyst reports. Weiss Ratings cut TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Zacks Research lowered shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 1st. Truist Financial lowered their price objective on shares of TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Finally, Needham & Company LLC dropped their target price on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd.

Insider Activity at TTM Technologies

In other news, CEO Edwin Roks bought 10,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the purchase, the chief executive officer directly owned 64,814 shares in the company, valued at $7,244,260.78. This represents a 18.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wajid Ali purchased 10,000 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $63.15 per share, for a total transaction of $631,500.00. Following the transaction, the director directly owned 45,835 shares in the company, valued at approximately $2,894,480.25. The trade was a 27.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 40,000 shares of company stock worth $3,401,650. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in shares of TTM Technologies in the third quarter valued at approximately $4,618,000. Greenline Wealth Management LLC boosted its holdings in TTM Technologies by 27.1% in the 3rd quarter. Greenline Wealth Management LLC now owns 2,760 shares of the technology company’s stock worth $339,000 after buying an additional 589 shares during the period. Tyche Wealth Partners LLC bought a new position in TTM Technologies in the 3rd quarter worth approximately $226,000. Independent Advisor Alliance grew its stake in TTM Technologies by 12.2% in the 3rd quarter. Independent Advisor Alliance now owns 11,143 shares of the technology company’s stock valued at $1,353,000 after buying an additional 1,209 shares in the last quarter. Finally, Bogart Wealth LLC grew its stake in TTM Technologies by 4,580.0% in the 3rd quarter. Bogart Wealth LLC now owns 234 shares of the technology company’s stock valued at $29,000 after buying an additional 229 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Stock Performance

Shares of TTM Technologies stock opened at $78.70 on Thursday. The company has a market cap of $8.29 billion, a PE ratio of 31.35 and a beta of 2.25. TTM Technologies has a 52 week low of $55.44 and a 52 week high of $223.83. The business has a 50 day moving average price of $106.43 and a 200-day moving average price of $126.58. The company has a quick ratio of 1.49, a current ratio of 1.67 and a debt-to-equity ratio of 0.71.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Thursday, October 22nd. The technology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.21. TTM Technologies had a return on equity of 19.19% and a net margin of 7.01%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 59.9% on a year-over-year basis. Equities analysts anticipate that TTM Technologies will post 4.36 earnings per share for the current fiscal year.

About TTM Technologies

TTM Technologies, Inc. designs and manufactures printed circuit boards (PCBs) and radio-frequency (RF) and microwave components and assemblies. Its products support the development and operation of electronic systems used in communications, data infrastructure, aerospace and defense, automotive, medical, and industrial applications. The company provides engineering and manufacturing services, including PCB design support, prototyping, and production. TTM serves customers around the world through operations in North America and Asia.