TTM Technologies, Inc. (NASDAQ:TTMI) Receives Average Rating of “Buy” from Analysts

TTM Technologies, Inc. (NASDAQ:TTMI) has been assigned an average rating of “Buy” from the four analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have covered the stock in the last year is $24.31.

A number of research analysts have weighed in on the stock. B. Riley raised their price objective on shares of TTM Technologies from $25.50 to $27.25 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC boosted their target price on shares of TTM Technologies from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on shares of TTM Technologies from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $24.00 price target (up previously from $22.00) on shares of TTM Technologies in a report on Thursday, August 1st.

TTM Technologies Price Performance

TTM Technologies stock opened at $18.08 on Friday. The firm has a market cap of $1.84 billion, a P/E ratio of -903.55 and a beta of 1.26. The stock’s 50 day moving average is $19.62 and its 200 day moving average is $17.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.04 and a quick ratio of 1.74. TTM Technologies has a one year low of $11.14 and a one year high of $22.70.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $605.10 million during the quarter, compared to the consensus estimate of $582.70 million. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. TTM Technologies’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, research analysts expect that TTM Technologies will post 1.31 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Shawn A. Powers sold 7,000 shares of TTM Technologies stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total transaction of $143,500.00. Following the sale, the executive vice president now owns 101,741 shares in the company, valued at $2,085,690.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Shawn A. Powers sold 7,000 shares of TTM Technologies stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.50, for a total transaction of $143,500.00. Following the completion of the sale, the executive vice president now directly owns 101,741 shares in the company, valued at $2,085,690.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeff Jankowsky sold 10,000 shares of TTM Technologies stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $20.04, for a total value of $200,400.00. Following the sale, the insider now directly owns 60,273 shares of the company’s stock, valued at $1,207,870.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,009 shares of company stock valued at $2,500,659. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TTMI. CWM LLC raised its stake in TTM Technologies by 202.6% during the second quarter. CWM LLC now owns 1,858 shares of the technology company’s stock worth $36,000 after purchasing an additional 1,244 shares during the period. Headlands Technologies LLC purchased a new stake in TTM Technologies during the first quarter worth approximately $37,000. Innealta Capital LLC acquired a new position in shares of TTM Technologies in the 2nd quarter valued at $64,000. EntryPoint Capital LLC increased its position in shares of TTM Technologies by 108.1% during the first quarter. EntryPoint Capital LLC now owns 6,264 shares of the technology company’s stock worth $98,000 after purchasing an additional 3,254 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in TTM Technologies during the second quarter worth approximately $225,000. 95.79% of the stock is owned by institutional investors and hedge funds.

About TTM Technologies

TTM Technologies, Inc, together with its subsidiaries, manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments, PCB and RF&S Components. It offers range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, IC substrates, passive RF components, advanced ceramic RF components, hi-reliability multi-chip modules, beamforming and switching networks, PCB products, RF components, and backplane/custom assembly solutions, including conventional PCBs.