TTM Technologies, Inc. (NASDAQ:TTMI) Receives $214.25 Consensus PT from Analysts

Shares of TTM Technologies, Inc. (NASDAQ:TTMI) have been given an average rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $214.25.

TTMI has been the subject of a number of recent analyst reports. Truist Financial boosted their price objective on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Stifel Nicolaus boosted their target price 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. Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of TTM Technologies in a research note on Tuesday, August 18th.

TTM Technologies Trading Up 2.8%

TTMI stock opened at $117.97 on Wednesday. The firm’s fifty day simple moving average is $125.41 and its two-hundred day simple moving average is $138.71. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 53.14 and a beta of 2.15. 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 has a twelve month low of $51.09 and a twelve month high of $223.83.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 EPS. As a group, analysts anticipate that TTM Technologies will post 4.26 earnings per share for the current year.

Insider Activity

In related news, EVP Douglas Soder sold 2,874 shares of the 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 $600,493.56. Following the transaction, the executive vice president owned 210,634 shares of the company’s stock, valued at $44,009,867.96. This represents a 1.35% 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, EVP Daniel Weber sold 2,915 shares of TTM Technologies stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $609,060.10. Following the sale, the executive vice president directly owned 88,250 shares of the company’s stock, valued at approximately $18,438,955. This trade represents a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 108,241 shares of company stock valued at $20,911,975. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TTMI. BlackRock Inc. purchased a new position in shares of TTM Technologies in the 2nd quarter worth approximately $2,053,347,000. Rokos Capital Management LLP acquired a new stake in TTM Technologies in the first quarter valued at approximately $13,031,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in TTM Technologies by 97.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock valued at $19,270,000 after acquiring an additional 97,799 shares in the last quarter. Renaissance Technologies LLC purchased a new position in TTM Technologies in the first quarter worth $36,130,000. Finally, Geode Capital Management LLC grew its holdings in TTM Technologies by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock worth $184,119,000 after purchasing an additional 81,588 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

About TTM Technologies

TTM Technologies, Inc (NASDAQ: TTMI) is a global manufacturer of technology solutions for electronic devices and systems. The company primarily produces printed circuit boards (PCBs), including high-density interconnect, flexible and rigid-flex boards, radio-frequency and microwave circuits, and other advanced PCB technologies.

TTM also provides engineering, prototype development, testing and assembly services that support the design and production of electronic products. Its solutions are used in aerospace and defense, data center computing, automotive, medical, industrial, instrumentation and other communications-related applications.

The company serves customers through manufacturing and engineering operations in North America and Asia.