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

Key Points

• Analysts maintain a bullish view: Six analysts rate TTM Technologies “Buy” or “Strong Buy,” with an average 12-month price target of $214.25. Several firms recently raised their targets, including B. Riley to $208, Stifel to $205, and Needham to $220.
• Quarterly results exceeded expectations: TTM reported $0.99 in earnings per share versus the $0.89 consensus estimate, while revenue reached $1 billion and rose 37.4% year over year.
• Institutional ownership is high, but insiders have been selling: Hedge funds and institutions own 95.79% of the stock, while company insiders sold 108,241 shares worth about $20.9 million over the past quarter.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) has earned an average rating of "Buy" from the six analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $214.25.

Several analysts recently issued reports on TTMI shares. Weiss Ratings upgraded shares of TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. B. Riley Financial increased their target price on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Stifel Nicolaus boosted their price target 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $220.00 price objective on shares of TTM Technologies in a report on Tuesday.

Insider Buying and Selling

In other news, EVP Daniel J. Weber sold 2,915 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $609,060.10. Following the completion of the transaction, the executive vice president directly owned 88,250 shares in the company, valued at $18,438,955. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Douglas L. Soder sold 2,874 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 $600,493.56. Following the completion of the sale, the executive vice president directly owned 210,634 shares of the company's stock, valued at $44,009,867.96. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 108,241 shares of company stock valued at $20,911,975 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TTM Technologies

Several hedge funds have recently bought and sold shares of the company. Rokos Capital Management LLP acquired a new position in shares of TTM Technologies in the first quarter valued at approximately $13,031,000. BlackRock Inc. purchased a new stake in TTM Technologies during the 2nd quarter worth approximately $2,053,347,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in TTM Technologies by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company's stock worth $19,270,000 after buying an additional 97,799 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in TTM Technologies during the 4th quarter worth approximately $668,000. Finally, Renaissance Technologies LLC purchased a new position in TTM Technologies in the 1st quarter valued at approximately $36,130,000. Institutional investors and hedge funds own 95.79% of the company's stock.

TTM Technologies Price Performance

TTMI stock opened at $110.54 on Friday. TTM Technologies has a 52-week low of $40.46 and a 52-week high of $223.83. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 49.79 and a beta of 2.14. The business has a fifty day moving average of $151.67 and a two-hundred day moving average of $135.98.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The company's quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. As a group, research analysts anticipate that TTM Technologies will post 4.26 earnings per share for the current year.

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.

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