TTM Technologies, Inc. (NASDAQ:TTMI) Stock Has Average Price Target of $203.00

Key Points

• Analysts rate TTM Technologies “Moderate Buy,” with four buy ratings and two holds; the average 12-month price target is $203, well above the reported opening price of $121.01.
• TTM reported quarterly EPS of $0.99 versus the $0.89 consensus estimate, while revenue reached $1 billion and increased 37.4% year over year.
• Institutional investors own 95.79% of the company’s shares. Insider activity was mixed, with an executive selling shares while CEO Edwin Roks purchased 10,000 shares at an average price of $111.77.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $203.00.

A number of research firms have recently weighed in on TTMI. Needham & Company LLC lowered their price objective on TTM Technologies from $220.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, September 21st. Wall Street Zen lowered TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. Zacks Research cut TTM Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Truist Financial raised their price target on TTM Technologies from $215.00 to $224.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th.

TTM Technologies Stock Up 3.0%

TTM Technologies stock opened at $121.01 on Friday. The business has a fifty day moving average of $124.29 and a two-hundred day moving average of $141.77. 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 $53.36 and a twelve month high of $223.83. The firm has a market cap of $12.75 billion, a P/E ratio of 54.51 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, topping 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 quarter in the previous year, the business posted $0.58 EPS. On average, analysts forecast that TTM Technologies will post 4.26 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In other news, SVP Dale Knecht sold 26,198 shares of TTM Technologies 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 completion of the sale, the senior vice president directly owned 40,138 shares in the company, valued at approximately $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Edwin Roks acquired 10,000 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were bought at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the acquisition, the chief executive officer directly 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTMI. GAMMA Investing LLC raised its position in shares of TTM Technologies by 12.0% in the third quarter. GAMMA Investing LLC now owns 4,862 shares of the technology company's stock worth $597,000 after acquiring an additional 522 shares during the period. Ausbil Investment Management Ltd acquired a new stake in shares of TTM Technologies during the 3rd quarter valued at about $970,000. Venture Visionary Partners LLC acquired a new stake in shares of TTM Technologies during the 3rd quarter valued at about $270,000. Elm3 Financial Group LLC increased its stake in shares of TTM Technologies by 7.1% in the 3rd quarter. Elm3 Financial Group LLC now owns 2,142 shares of the technology company's stock valued at $263,000 after purchasing an additional 142 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of TTM Technologies by 39.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 50,452 shares of the technology company's stock valued at $9,436,000 after purchasing an additional 14,155 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Company Profile

TTM Technologies, Inc is a manufacturer of technology solutions for the electronics industry. The company primarily produces printed circuit boards, including rigid, flexible, rigid-flex and high-density interconnect boards, as well as specialized radio-frequency and microwave components and assemblies.

TTM's products and services support applications that require complex electronic circuitry and high reliability. Its customers operate in markets such as aerospace and defense, data-center computing, automotive, medical, industrial and instrumentation, and networking and communications.

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