Wall Street Zen Upgrades TTM Technologies (NASDAQ:TTMI) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded TTM Technologies to “Strong Buy” from “Buy,” while the broader analyst consensus remains “Buy” with an average price target of $214.25.
• TTM Technologies reported quarterly EPS of $0.99, beating estimates of $0.89, while revenue rose 37.4% year over year to approximately $1 billion.
• Institutional investors own 95.79% of the company, while insiders sold 108,241 shares worth about $20.9 million over the past quarter.

TTM Technologies (NASDAQ:TTMI - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

A number of other equities research analysts have also commented on TTMI. Stifel Nicolaus raised their price objective on TTM Technologies from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Zacks Research upgraded shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price objective on shares of TTM Technologies in a research report on Tuesday. Weiss Ratings upgraded shares of TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Finally, 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 report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $214.25.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI opened at $110.54 on Friday. The company's fifty day moving average is $151.67 and its two-hundred day moving average is $135.98. 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 12-month low of $40.46 and a 12-month high of $223.83. The company has a market cap of $11.65 billion, a P/E ratio of 49.79 and a beta of 2.14.

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

Insider Buying and Selling at TTM Technologies

In related news, EVP Catherine A. Gridley sold 3,056 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $638,520.64. Following the completion of the sale, the executive vice president owned 71,866 shares of the company's stock, valued at approximately $15,015,682.04. The trade was a 4.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel J. Weber sold 2,915 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $609,060.10. Following the completion of the transaction, the executive vice president owned 88,250 shares in the company, valued at $18,438,955. This represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 108,241 shares of company stock worth $20,911,975 over the last quarter. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of TTM Technologies by 66.6% in the 1st quarter. Royal Bank of Canada now owns 26,433 shares of the technology company's stock valued at $543,000 after purchasing an additional 10,565 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in TTM Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company's stock worth $1,232,000 after buying an additional 2,632 shares during the last quarter. Goldman Sachs Group Inc. increased its position in TTM Technologies by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after buying an additional 115,766 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in TTM Technologies by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company's stock valued at $3,908,000 after buying an additional 13,691 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of TTM Technologies by 1,150.2% in the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock worth $2,869,000 after buying an additional 128,700 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

TTM Technologies Company Profile

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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