TTM Technologies (NASDAQ:TTMI) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on TTMI. Truist Financial raised their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. B. Riley Financial upped their target price on TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded TTM Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Stifel Nicolaus lifted their price target on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Needham & Company LLC boosted their price target on TTM Technologies from $208.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $214.25.

TTM Technologies Price Performance

Shares of TTMI stock opened at $138.88 on Wednesday. TTM Technologies has a fifty-two week low of $39.20 and a fifty-two week high of $223.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 62.56 and a beta of 2.14. The stock’s 50-day simple moving average is $158.18 and its 200-day simple moving average is $135.06.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. TTM Technologies’s revenue was up 37.4% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. As a group, equities analysts forecast that TTM Technologies will post 4.26 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Shawn A. Powers sold 3,367 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total transaction of $703,500.98. Following the sale, the executive vice president owned 120,801 shares in the company, valued at approximately $25,240,160.94. This trade represents a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Douglas L. Soder sold 2,874 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $600,493.56. Following the sale, the executive vice president owned 210,634 shares in the company, valued at $44,009,867.96. This trade represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,241 shares of company stock valued at $20,911,975 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On TTM Technologies

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of TTM Technologies by 1.8% in the second quarter. GAMMA Investing LLC now owns 4,340 shares of the technology company’s stock worth $812,000 after acquiring an additional 75 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of TTM Technologies by 36.2% during the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock valued at $32,000 after acquiring an additional 87 shares during the last quarter. Lido Advisors LLC grew its holdings in shares of TTM Technologies by 1.5% in the fourth quarter. Lido Advisors LLC now owns 8,013 shares of the technology company’s stock valued at $553,000 after purchasing an additional 116 shares during the period. GoalVest Advisory LLC grew its stake in shares of TTM Technologies by 456.7% in the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock valued at $31,000 after buying an additional 137 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in TTM Technologies by 4.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,289 shares of the technology company’s stock worth $320,000 after acquiring an additional 142 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.