TTM Technologies, Inc. (NASDAQ:TTMI) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts maintain a bullish view: TTM Technologies has an average “Buy” rating from six analysts, with a 12-month average price target of $214.25.
• Quarterly results exceeded expectations: The company reported $0.99 in EPS versus the $0.89 consensus estimate, while revenue rose 37.4% year over year to approximately $1 billion.
• Institutional ownership is substantial: Institutional investors own 95.79% of TTM Technologies, with BlackRock initiating a stake worth about $2.05 billion; meanwhile, insiders sold more shares than they bought over the past 90 days.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) has been assigned an average rating of "Buy" from the six ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $214.25.

TTMI has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $220.00 price target on shares of TTM Technologies in a report on Tuesday, August 18th. B. Riley Financial upped their price objective on TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Wall Street Zen cut TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. Stifel Nicolaus lifted their target price on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Finally, Zacks Research raised TTM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI opened at $112.46 on Wednesday. The company has a market capitalization of $11.85 billion, a P/E ratio of 50.66 and a beta of 2.15. TTM Technologies has a 1-year low of $47.88 and a 1-year high of $223.83. The firm's 50 day simple moving average is $127.31 and its two-hundred day simple moving average is $138.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $962.04 million. During the same period in the prior year, the company posted $0.58 earnings per share. The company's revenue for the quarter was up 37.4% compared to the same quarter last year. Research analysts expect that TTM Technologies will post 4.26 EPS for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In related news, CEO Edwin Roks bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the purchase, the chief executive officer owned 64,814 shares of the company's stock, valued at approximately $7,244,260.78. The trade was a 18.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Dale Knecht sold 26,198 shares of the firm's stock in a transaction on 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 transaction, the senior vice president directly owned 40,138 shares of the company's stock, valued at $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 108,241 shares of company stock worth $20,911,975. 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 TTMI. BlackRock Inc. bought a new stake in shares of TTM Technologies in the second quarter worth about $2,053,347,000. Geode Capital Management LLC boosted its stake in TTM Technologies by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company's stock valued at $184,119,000 after buying an additional 81,588 shares during the last quarter. Wellington Management Group LLP grew its holdings in TTM Technologies by 61.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company's stock valued at $424,237,000 after buying an additional 867,255 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in TTM Technologies by 22.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,237,627 shares of the technology company's stock valued at $154,396,000 after buying an additional 406,202 shares in the last quarter. Finally, Castle Hook Partners LP bought a new stake in TTM Technologies in the 4th quarter worth approximately $133,351,000. Institutional investors own 95.79% of the company's stock.

TTM Technologies Company Profile

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.

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