TTM Technologies (NASDAQ:TTMI) Upgraded at Zacks Research

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

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

TTM Technologies Price Performance

TTMI opened at $96.48 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.66 and a current ratio of 1.94. The stock has a market capitalization of $9.97 billion, a PE ratio of 76.57 and a beta of 1.74. The stock’s 50 day moving average price is $77.45 and its 200-day moving average price is $61.30. TTM Technologies has a 52-week low of $15.77 and a 52-week high of $106.68.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.67 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $711.91 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that TTM Technologies will post 1.76 EPS for the current year.

Insider Buying and Selling at TTM Technologies

In other news, Director Julie Spicer England sold 3,784 shares of TTM Technologies 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 completion of the transaction, the director owned 106,541 shares of the company’s stock, valued at $6,748,306.94. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert P. Farrell sold 3,476 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $68.93, for a total transaction of $239,600.68. Following the sale, the insider directly owned 20,346 shares in the company, valued at $1,402,449.78. This trade represents a 14.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,870 shares of company stock valued at $2,520,245 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of TTM Technologies by 4.4% during the third quarter. Larson Financial Group LLC now owns 3,978 shares of the technology company’s stock valued at $229,000 after acquiring an additional 167 shares in the last quarter. Optiver Holding B.V. increased its holdings in shares of TTM Technologies by 66.4% in the 3rd quarter. Optiver Holding B.V. now owns 426 shares of the technology company’s stock worth $25,000 after purchasing an additional 170 shares in the last quarter. Choreo LLC raised its stake in shares of TTM Technologies by 1.4% in the third quarter. Choreo LLC now owns 14,196 shares of the technology company’s stock worth $818,000 after purchasing an additional 191 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of TTM Technologies by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 6,665 shares of the technology company’s stock valued at $460,000 after purchasing an additional 214 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of TTM Technologies by 8.3% during the third quarter. GAMMA Investing LLC now owns 3,512 shares of the technology company’s stock valued at $202,000 after purchasing an additional 268 shares in the last quarter. Institutional investors 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.