TTM Technologies, Inc. (TTMI) Downgraded by ValuEngine to Buy
ValuEngine cut shares of TTM Technologies, Inc. (NASDAQ:TTMI) from a strong-buy rating to a buy rating in a research note published on Friday morning.
TTMI has been the subject of several other research reports. Stifel Nicolaus upgraded shares of TTM Technologies from a hold rating to a buy rating and set a $17.50 price target for the company in a research report on Thursday, August 24th. They noted that the move was a valuation call. BidaskClub upgraded shares of TTM Technologies from a buy rating to a strong-buy rating in a research report on Monday, July 24th. J P Morgan Chase & Co set a $22.00 price target on shares of TTM Technologies and gave the stock a buy rating in a research report on Wednesday, August 16th. Zacks Investment Research downgraded shares of TTM Technologies from a strong-buy rating to a hold rating in a research report on Wednesday, May 10th. Finally, Needham & Company LLC upped their price target on shares of TTM Technologies from $18.00 to $22.00 and gave the stock a buy rating in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. TTM Technologies currently has a consensus rating of Buy and an average target price of $20.13.
TTM Technologies (NASDAQ TTMI) opened at 14.58 on Friday. The stock’s 50 day moving average price is $15.48 and its 200-day moving average price is $16.36. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 20.39 and a beta of 1.50. TTM Technologies has a 12 month low of $10.15 and a 12 month high of $19.54.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.04. TTM Technologies had a return on equity of 17.05% and a net margin of 2.97%. The company had revenue of $627.20 million for the quarter, compared to analyst estimates of $625.43 million. During the same quarter last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts expect that TTM Technologies will post $1.53 EPS for the current year.
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In related news, SVP Daniel J. Weber sold 3,605 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total transaction of $64,601.60. Following the completion of the sale, the senior vice president now owns 48,270 shares of the company’s stock, valued at approximately $864,998.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenton K. Alder sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $18.09, for a total transaction of $54,270.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,074 shares of company stock valued at $244,010. 28.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. purchased a new stake in TTM Technologies during the 1st quarter valued at about $4,540,000. Fox Run Management L.L.C. purchased a new stake in TTM Technologies during the 2nd quarter valued at about $306,000. State of Alaska Department of Revenue grew its stake in TTM Technologies by 1.5% during the 1st quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock valued at $150,000 after acquiring an additional 140 shares in the last quarter. Principal Financial Group Inc. grew its stake in TTM Technologies by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 690,203 shares of the technology company’s stock valued at $11,133,000 after acquiring an additional 20,061 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in TTM Technologies during the 1st quarter valued at about $1,773,000. 95.16% of the stock is owned by institutional investors.
TTM Technologies Company Profile
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). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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