12 Best Affordable Tech Stocks to Buy According to Analysts

4. TTM Technologies Inc. (NASDAQ:TTMI)

Current Share Price: $23.2; Forward P/E: 11.4

Upside Potential: 47%

Number of Hedge Fund Holders: 33

TTM Technologies Inc. (NASDAQ:TTMI) is a global manufacturer of printed circuit boards (PCBs) and radio-frequency components. The company serves various industries, including aerospace, defense, automotive, and data center infrastructure.

The company holds a consensus Buy rating with 1-year median price target of $34, indicating 45% upside potential. Stifel analyst Ruben Roy recently initiated coverage of TTM Technologies Inc. (NASDAQ:TTMI) with a Buy rating and a $33 price target, adding to the list of firms positive on the stock’s outlook. He highlighted the company’s successful efforts to diversify its revenue, particularly through strategic acquisitions that have expanded its Aerospace and Defense segment into engineered and integrated electronics. This shift reduces dependence on traditional products and strengthens the company’s position in high-growth markets.

The analyst also emphasized that the company is also benefiting from strong demand in the Data Center Computing sector, driven by the increasing need for advanced AI-related technologies. Additionally, the upcoming launch of a new manufacturing facility in Malaysia is expected to be a long-term growth driver as production moves from China to Penang. While demand in segments like Medical, Industrial, Instrumentation, and Automotive remains weak, the analyst’s bullish stance is supported by the company’s overall growth strategy and strong presence in key markets.