TTM Technologies (NASDAQ:TTMI) Price Target Cut to $150.00 by Analysts at Needham & Company LLC

Key Points

• Needham cut TTM Technologies’ price target from $175 to $150 but maintained a “Buy” rating. The new target still implies approximately 103% upside from the reported $73.89 share price.
• TTM reported strong quarterly results, with revenue up 59.9% year over year to $1.20 billion and earnings of $1.46 per share, exceeding the $1.25 consensus estimate. Analysts maintain a “Moderate Buy” consensus rating with an average target of $188.50.
• Despite strong demand in data-center, networking, aerospace, and defense markets, investors face concerns over supply-chain delays, acquisition-related leverage, and potential securities-law investigations.

TTM Technologies (NASDAQ:TTMI - Get Free Report) had its price objective reduced by research analysts at Needham & Company LLC from $175.00 to $150.00 in a note issued to investors on Friday, MarketBeat reports. The firm presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective would indicate a potential upside of 103.00% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of TTM Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Wall Street Zen cut shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 30th. Truist Financial boosted their target price on shares of TTM Technologies from $224.00 to $231.00 and gave the company a "buy" rating in a research report on Tuesday, October 13th. Stifel Nicolaus set a $165.00 price target on TTM Technologies in a research report on Friday. Finally, Weiss Ratings lowered TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, TTM Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $188.50.

TTM Technologies Stock Performance

Shares of TTMI stock opened at $73.89 on Friday. The business has a fifty day moving average of $118.27 and a 200 day moving average of $142.13. TTM Technologies has a 1 year low of $55.44 and a 1 year high of $223.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 33.28 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings data 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 15.67% and a net margin of 7.01%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The company's revenue was up 59.9% on a year-over-year basis. As a group, research analysts expect that TTM Technologies will post 4.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Dale Knecht sold 26,198 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the sale, the senior vice president directly owned 40,138 shares of the company's stock, valued at $5,699,596. This represents a 39.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edwin Roks bought 10,000 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the transaction, the chief executive officer directly owned 64,814 shares in the company, valued at approximately $7,244,260.78. This trade represents a 18.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of TTM Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in TTM Technologies during the second quarter worth $2,053,347,000. Rokos Capital Management LLP acquired a new position in shares of TTM Technologies during the 1st quarter worth about $13,031,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in TTM Technologies by 97.8% in the 1st 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 buying an additional 97,799 shares in the last quarter. Renaissance Technologies LLC purchased a new position in TTM Technologies in the 1st quarter valued at about $36,130,000. Finally, Ausbil Investment Management Ltd purchased a new position in TTM Technologies in the 3rd quarter valued at about $970,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Key TTM Technologies News

Here are the key news stories impacting TTM Technologies this week:

• Positive Sentiment: Record results and higher guidance: TTM reported third-quarter revenue of $1.20 billion, up approximately 60% year over year, while non-GAAP EPS of $1.46 exceeded the $1.25 consensus estimate. Adjusted EBITDA reached a record $242.3 million, and management projected fourth-quarter revenue of $1.42 billion to $1.44 billion. TTM Technologies Reports Third Quarter 2026 Results
• Positive Sentiment: Strong demand outlook: Data Center and Networking revenue grew 115%, helped by artificial-intelligence demand, while Aerospace and Defense sales increased 21%. The company also cited a 2.13 book-to-bill ratio and a $2 billion Aerospace and Defense backlog. Its preliminary 2027 forecast calls for $6.5 billion to $6.75 billion in revenue and $8.10 to $8.90 in non-GAAP EPS. TTM Technologies: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Analyst target reduced: Stifel lowered its price target to $165, signaling less near-term valuation support even though the target remains above the reported share price. TTM Technologies Price Target Lowered to $165 at Stifel
• Negative Sentiment: Supply and financing concerns: Management reportedly highlighted material lead times of up to 24 weeks. Investors are also concerned about debt costs and leverage following acquisitions, including the planned $650 million Ophir Optics purchase. Net leverage was 2.8 times pro forma EBITDA after recent deals, raising execution and balance-sheet risks. Why TTM Technologies Stock Plunged This Week
• Negative Sentiment: Potential legal investigations: Several law firms announced investigations into possible securities-law violations after the earnings release. These announcements do not establish wrongdoing, but they add uncertainty and may intensify selling pressure. TTM Technologies Investigation Notice

About TTM Technologies

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.

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