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

TTM Technologies, Inc. (NASDAQ:TTMI) has received a consensus rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $99.00.

Several analysts have issued reports on TTMI shares. Needham & Company LLC upped their price target on shares of TTM Technologies from $79.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Wall Street Zen cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TTM Technologies in a research note on Wednesday, January 21st. Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, B. Riley raised their target price on shares of TTM Technologies from $81.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd.

Insiders Place Their Bets

In other TTM Technologies news, Director Thomas T. Edman sold 16,800 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $69.75, for a total value of $1,171,800.00. Following the transaction, the director owned 804,923 shares in the company, valued at approximately $56,143,379.25. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony Joseph Sandeen sold 2,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $67.30, for a total transaction of $134,600.00. Following the sale, the insider owned 41,442 shares of the company’s stock, valued at approximately $2,789,046.60. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 32,394 shares of company stock worth $2,213,694. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TTM Technologies

Several hedge funds have recently made changes to their positions in TTMI. Larson Financial Group LLC increased its position in TTM Technologies by 4.4% during the 3rd quarter. Larson Financial Group LLC now owns 3,978 shares of the technology company’s stock valued at $229,000 after purchasing an additional 167 shares during the period. Optiver Holding B.V. boosted its stake in shares of TTM Technologies by 66.4% during the 3rd quarter. Optiver Holding B.V. now owns 426 shares of the technology company’s stock valued at $25,000 after purchasing an additional 170 shares in the last quarter. Choreo LLC increased its position in shares of TTM Technologies by 1.4% during the third quarter. Choreo LLC now owns 14,196 shares of the technology company’s stock valued at $818,000 after buying an additional 191 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in TTM Technologies by 3.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 6,665 shares of the technology company’s stock worth $460,000 after buying an additional 214 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in TTM Technologies by 8.3% in the third quarter. GAMMA Investing LLC now owns 3,512 shares of the technology company’s stock worth $202,000 after buying an additional 268 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

TTM Technologies Trading Up 4.6%

Shares of TTMI opened at $102.76 on Tuesday. TTM Technologies has a fifty-two week low of $15.77 and a fifty-two week high of $106.68. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 81.56 and a beta of 1.74. The firm has a 50 day moving average price of $79.00 and a 200-day moving average price of $62.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.66 and a current ratio of 1.94.

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.