TTM Technologies (NASDAQ:TTMI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TTM Technologies (NASDAQ:TTMI) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other research analysts also recently commented on TTMI. Weiss Ratings downgraded shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Stifel Nicolaus lowered their price target on shares of TTM Technologies from $205.00 to $165.00 and set a “buy” rating for the company in a research report on Friday. Truist Financial dropped their price objective on shares of TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC cut their price objective on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Friday. Finally, Zacks Research downgraded shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.25.

TTM Technologies Stock Performance

TTMI stock opened at $85.50 on Friday. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 34.06 and a beta of 2.14. TTM Technologies has a twelve month low of $55.44 and a twelve month high of $223.83. The company has a quick ratio of 1.49, a current ratio of 1.67 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $116.27 and its two-hundred day simple moving average is $127.26.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Thursday, October 22nd. The technology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.21. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 59.9% on a year-over-year basis. Analysts predict that TTM Technologies will post 4.22 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in TTM Technologies in the second quarter valued at approximately $2,053,347,000. Wellington Management Group LLP raised its position in TTM Technologies by 61.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock worth $424,237,000 after buying an additional 867,255 shares during the last quarter. Atalan Capital Partners LP purchased a new position in TTM Technologies during the 2nd quarter worth approximately $189,234,000. Bank of New York Mellon Corp lifted its stake in TTM Technologies by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 715,543 shares of the technology company’s stock valued at $69,708,000 after acquiring an additional 11,610 shares during the period. Finally, Bank of America Corp DE lifted its stake in TTM Technologies by 6.5% during the 1st quarter. Bank of America Corp DE now owns 636,152 shares of the technology company’s stock valued at $61,974,000 after acquiring an additional 38,710 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about TTM Technologies

Here are the key news stories impacting TTM Technologies this week:

• Positive Sentiment: Record results and raised outlook: TTM reported third-quarter revenue of approximately $1.2 billion, up 60% year over year, with record adjusted EBITDA and non-GAAP earnings. Management forecast fourth-quarter revenue of $1.42 billion to $1.44 billion and non-GAAP EPS of $1.77 to $1.83. The company also cited a 2.13 book-to-bill ratio and a $2.0 billion aerospace and defense backlog, suggesting strong demand visibility. TTM Technologies Jumps as Investors Reassess Strong Q3 Beat and Outlook
• Positive Sentiment: AI and defense expansion: TTM is positioning for growth in artificial intelligence, aerospace and defense, supported by investments and acquisitions including the planned purchase of MKS’s Ophir optics business. These initiatives could broaden its exposure to high-growth technology and defense programs. TTM Technologies Bets Big on AI, Defense Growth
• Positive Sentiment: Bullish options activity: Traders purchased 10,816 call options, roughly 144% above typical daily call volume, indicating increased speculative interest in further gains.
• Neutral Sentiment: Post-earnings volatility continues: The stock’s rebound followed a sharp prior-session selloff as investors continued interpreting the earnings report and outlook. Elevated volume highlights heightened interest but also substantial short-term volatility. TTM Technologies climbs as volatile post-earnings trading continues
• Negative Sentiment: Legal and insider-selling risks: A law firm announced a fraud investigation for investors reporting significant losses. Separately, reported insider activity over the past six months was heavily weighted toward sales, despite some executive purchases, which may weigh on sentiment.

TTM Technologies Company Profile

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.