TTM Technologies’ (TTMI) “Buy” Rating Reiterated at Stifel Nicolaus
TTM Technologies, Inc. (NASDAQ:TTMI)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a report issued on Thursday. They presently have a $17.50 target price on the technology company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 15.36% from the stock’s current price.
Several other brokerages have also recently commented on TTMI. Needham & Company LLC upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a report on Monday, August 7th. Zacks Investment Research cut TTM Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. BidaskClub cut TTM Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. ValuEngine cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, J P Morgan Chase & Co set a $22.00 target price on TTM Technologies and gave the company a “buy” rating in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. TTM Technologies has an average rating of “Buy” and a consensus price target of $20.13.
Shares of TTM Technologies (NASDAQ:TTMI) traded up 0.66% during mid-day trading on Thursday, hitting $15.23. 192,272 shares of the company were exchanged. TTM Technologies has a 12-month low of $10.85 and a 12-month high of $19.54. The firm has a 50 day moving average of $14.12 and a 200 day moving average of $16.21. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 21.30 and a beta of 1.50.
TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The company had revenue of $627.20 million during the quarter, compared to the consensus estimate of $625.43 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that TTM Technologies will post $1.53 earnings per share for the current year.
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In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $18.43, for a total value of $55,290.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders sold 9,000 shares of company stock worth $142,260. Insiders own 28.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC lifted its stake in TTM Technologies by 0.6% in the first quarter. IHT Wealth Management LLC now owns 18,766 shares of the technology company’s stock valued at $305,000 after buying an additional 106 shares during the period. CS Mckee LP lifted its stake in TTM Technologies by 0.3% in the second quarter. CS Mckee LP now owns 70,900 shares of the technology company’s stock valued at $1,231,000 after buying an additional 200 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in TTM Technologies by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 39,390 shares of the technology company’s stock valued at $636,000 after buying an additional 230 shares during the period. Ngam Advisors L.P. lifted its stake in TTM Technologies by 1.6% in the first quarter. Ngam Advisors L.P. now owns 23,986 shares of the technology company’s stock valued at $387,000 after buying an additional 379 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in TTM Technologies by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 34,800 shares of the technology company’s stock valued at $604,000 after buying an additional 400 shares during the period. 95.16% of the stock is currently 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). 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.
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