TTM Technologies Inc. (TTMI) Given a $13.00 Price Target at JPMorgan Chase & Co.
JPMorgan Chase & Co. set a $13.00 price objective on TTM Technologies Inc. (NASDAQ:TTMI) in a research report report published on Wednesday morning. The firm currently has a a buy rating on the stock.
Several other equities research analysts also recently commented on the stock. Stifel Nicolaus reduced their price target on shares of TTM Technologies from $11.00 to $9.50 and set a buy rating for the company in a research report on Thursday, July 28th. Needham & Company LLC upped their price target on shares of TTM Technologies from $10.00 to $12.00 and gave the company a buy rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of TTM Technologies from a hold rating to a strong-buy rating and set a $11.00 price target for the company in a research report on Saturday, July 30th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $11.10.
TTM Technologies (NASDAQ:TTMI) traded down 0.95% during trading on Wednesday, hitting $11.48. 622,300 shares of the company traded hands. TTM Technologies has a one year low of $4.67 and a one year high of $11.75. The firm has a 50 day moving average of $10.73 and a 200 day moving average of $8.27. The firm has a market cap of $1.15 billion, a P/E ratio of 64.13 and a beta of 1.62.
TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.10. The business earned $601.80 million during the quarter, compared to the consensus estimate of $601.48 million. TTM Technologies had a net margin of 0.74% and a return on equity of 7.86%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. On average, analysts expect that TTM Technologies will post $1.08 earnings per share for the current fiscal year.
In related news, SVP Daniel J. Weber sold 4,565 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $11.00, for a total value of $50,215.00. Following the transaction, the senior vice president now directly owns 48,571 shares in the company, valued at approximately $534,281. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony J. Princiotta sold 24,924 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $10.58, for a total transaction of $263,695.92. Following the completion of the sale, the insider now directly owns 32,485 shares of the company’s stock, valued at $343,691.30. The disclosure for this sale can be found here. 28.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Ngam Advisors L.P. bought a new stake in shares of TTM Technologies during the first quarter worth $212,000. Teachers Advisors Inc. increased its stake in shares of TTM Technologies by 10.0% in the first quarter. Teachers Advisors Inc. now owns 1,041,547 shares of the company’s stock worth $6,926,000 after buying an additional 94,258 shares during the period. Prudential Financial Inc. increased its stake in shares of TTM Technologies by 3.0% in the first quarter. Prudential Financial Inc. now owns 152,258 shares of the company’s stock worth $1,013,000 after buying an additional 4,500 shares during the period. Algert Global LLC bought a new stake in shares of TTM Technologies during the first quarter worth $226,000. Finally, Franklin Resources Inc. increased its stake in shares of TTM Technologies by 10.0% in the first quarter. Franklin Resources Inc. now owns 3,067,610 shares of the company’s stock worth $20,400,000 after buying an additional 278,070 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). The Company operates approximately 30 specialized facilities in the United States, the People’s Republic of China (China), Canada and Mexico.
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