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In a recent move, Truist Securities upgraded TTM Technologies (NASDAQ:) to Buy on Thursday, predicting a significant one-year price target increase of 35.69%, moving the target to $17.53 up from the closing price of $12.92. This announcement comes with an expectation of a revenue growth of 20.01%, which would bring the company’s annual total to $2,737 million. The company also anticipates a non-GAAP EPS of 1.68.
Despite seeing a decrease in ownership by 27 entities in the last quarter, TTM Technologies still holds the interest of approximately 503 funds or institutions. Interestingly, the average portfolio weight dedicated to TTM Technologies (NASDAQ:TTMI) increased by 23.18% to 0.20%. Institutional shares rose by 1.34% to 131,887K shares, indicating a bullish fund sentiment with a put/call ratio of 0.38.
Major shareholders in TTM Technologies include Thrivent Financial For Lutherans, IJR – iShares Core S&P Small-Cap ETF, Macquarie Group (OTC:), AASMX – Thrivent Small Cap Stock Fund, and DEVLX – Delaware Small Cap Value Fund.
TTM Technologies is known for its manufacturing prowess in advanced PCBs and backplane assemblies with a focus on time-to-market. The data and analyses regarding the company were reported by Fintel, a firm recognized for its advanced quantitative models.
InvestingPro Insights
TTM Technologies is showing promising signs of financial growth and stability. According to InvestingPro, the company has a high shareholder yield and has seen a significant return over the past week. Notably, three analysts have revised their earnings upwards for the upcoming period, indicating an optimistic outlook for the company’s future performance.
On the data front, TTM Technologies has a market capitalization of $1.46 billion and a negative P/E ratio of -47.91. Over the last twelve months as of Q3 2023, the company’s revenue stood at $2.28 billion, albeit with a slight decline of 7.89%. Despite this, the company’s liquid assets exceed short term obligations, which is a strong indicator of financial health.
InvestingPro Tips also suggest that while TTM Technologies has not been profitable over the last twelve months, analysts predict a return to profitability this year. This aligns with the recent upgrade by Truist Securities, which forecasts a substantial price target increase and revenue growth.
It’s also worth noting that while TTM Technologies does not pay a dividend to shareholders, the company’s share price has seen a total return of 21.7% in the past week. This suggests potential for capital gains, despite the lack of dividend income.
For more in-depth analysis and additional tips, consider exploring InvestingPro’s platform, where over 8 more valuable tips are available to help guide your investment decisions.
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