TTM Technologies (NASDAQ:TTMI) Cut to “Hold” at Zacks Research

Zacks Research cut shares of TTM Technologies (NASDAQ:TTMI) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks reports.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Truist Financial lifted their target price on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC lowered their target price on TTM Technologies from $220.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, September 21st. Finally, Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $203.00.

TTM Technologies Stock Performance

NASDAQ TTMI opened at $128.20 on Monday. The firm’s 50 day simple moving average is $124.14 and its 200 day simple moving average is $141.73. The firm has a market capitalization of $13.51 billion, a price-to-earnings ratio of 57.75 and a beta of 2.14. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. TTM Technologies has a 1 year low of $53.36 and a 1 year high of $223.83.

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

Insider Transactions at TTM Technologies

In other TTM Technologies news, CEO Edwin Roks bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the transaction, the chief executive officer directly owned 64,814 shares in the company, valued at approximately $7,244,260.78. This represents a 18.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Dale Knecht sold 26,198 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the sale, the senior vice president directly owned 40,138 shares in the company, valued at $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TTMI. BlackRock Inc. bought a new stake in TTM Technologies in the second quarter valued at $2,053,347,000. Rokos Capital Management LLP bought a new position in shares of TTM Technologies during the 1st quarter worth about $13,031,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of TTM Technologies by 97.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock valued at $19,270,000 after buying an additional 97,799 shares during the period. Renaissance Technologies LLC bought a new stake in TTM Technologies in the 1st quarter valued at about $36,130,000. Finally, Envestnet Asset Management Inc. increased its position in 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 buying an additional 14,155 shares in the last quarter. 95.79% of the stock is owned by institutional investors.

About TTM Technologies

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.