TTM Technologies, Inc. (TTMI) Stake Raised by Fmr LLC
Fmr LLC increased its stake in TTM Technologies, Inc. (NASDAQ:TTMI) by 20.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,389,523 shares of the technology company’s stock after buying an additional 566,453 shares during the quarter. Fmr LLC owned approximately 3.33% of TTM Technologies worth $58,842,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TTMI. Ameritas Investment Partners Inc. bought a new stake in TTM Technologies in the 1st quarter valued at $101,000. Riverhead Capital Management LLC raised its stake in TTM Technologies by 71.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,860 shares of the technology company’s stock valued at $119,000 after acquiring an additional 2,860 shares during the period. Pacad Investment Ltd. bought a new stake in TTM Technologies in the 2nd quarter valued at $133,000. Sei Investments Co. raised its stake in TTM Technologies by 197.1% in the 2nd quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock valued at $161,000 after acquiring an additional 6,127 shares during the period. Finally, Sigma Planning Corp bought a new stake in TTM Technologies in the 2nd quarter valued at $176,000.
TTMI has been the topic of a number of research analyst reports. Needham & Company LLC upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Monday, August 7th. Stifel Nicolaus cut TTM Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $18.50 to $19.00 in a research note on Friday, July 28th. Zacks Investment Research upgraded TTM Technologies from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 5th. BidaskClub cut TTM Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, ValuEngine cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.50.
In other news, Director Kenton K. Alder sold 3,000 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $14.29, for a total transaction of $42,870.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 28.40% of the stock is owned by corporate insiders.
Shares of TTM Technologies, Inc. (NASDAQ:TTMI) opened at 15.57 on Monday. The company has a market cap of $1.59 billion, a PE ratio of 21.78 and a beta of 1.56. TTM Technologies, Inc. has a 1-year low of $10.85 and a 1-year high of $19.54. The company has a 50-day moving average price of $14.96 and a 200-day moving average price of $16.13.
TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $627.20 million during the quarter, compared to analysts’ expectations of $625.43 million. During the same period in the prior year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts expect that TTM Technologies, Inc. will post $1.52 earnings per share for the current fiscal year.
TTM Technologies 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.
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