China smartphone shipments slumped in June on inventory overhang: Jefferies
TTM Technologies (NASDAQ:TTMI) Inc (market cap: $4.67 billion) has reached an all-time high, with its stock price hitting 48.69 USD. This milestone reflects a significant upward trajectory for the company, as the stock has experienced a remarkable 121.55% increase over the past year. Trading at a P/E ratio of approximately 60x, InvestingPro analysis suggests the stock is currently trading above its Fair Value. TTM Technologies, known for its advanced technology solutions, has seen robust growth, with revenue increasing 11.65% over the last twelve months, driven by strong market demand and strategic business developments. The impressive one-year change underscores investor confidence and the company’s ability to innovate and expand in a competitive industry. InvestingPro subscribers have access to 14 additional investment tips and comprehensive analysis for TTMI, including detailed insights into the company’s financial health and growth prospects.
In other recent news, TTM Technologies has announced the acquisition of a 750,000-square-foot manufacturing facility in Eau Claire, Wisconsin, and secured land for a future site in Penang, Malaysia. This move is expected to enhance the company’s domestic manufacturing capabilities. Additionally, several analyst firms have raised their price targets for TTM Technologies. Needham increased its target from $35 to $43, maintaining a Buy rating, citing favorable earnings reports in the AI supply chain as a significant factor. Stifel also raised its target from $33 to $40, highlighting anticipated growth in the Aerospace & Defense and Data Center markets. Truist Securities adjusted its target from $36 to $41, reflecting confidence in TTM’s growth prospects, particularly in Penang and Syracuse, as well as its involvement in AI technologies. These developments indicate a positive outlook from analysts regarding TTM Technologies’ future performance.
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