TTM Technologies, Inc. (TTMI) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of TTM Technologies, Inc. (NASDAQ:TTMI) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. “
A number of other brokerages have also issued reports on TTMI. Needham & Company LLC upgraded shares of TTM Technologies from a buy rating to a strong-buy rating and set a $22.00 target price on the stock in a research report on Monday, August 7th. Stifel Nicolaus lowered shares of TTM Technologies from a buy rating to a hold rating and raised their target price for the stock from $18.50 to $19.00 in a research report on Friday, July 28th. BidaskClub lowered shares of TTM Technologies from a hold rating to a sell rating in a report on Tuesday, August 8th. ValuEngine lowered shares of 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 price target on shares of TTM Technologies and gave the company a buy rating in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $20.50.
Shares of TTM Technologies (NASDAQ TTMI) traded down $0.12 during midday trading on Wednesday, reaching $16.75. 1,014,817 shares of the company were exchanged, compared to its average volume of 1,405,696. TTM Technologies has a 1 year low of $11.76 and a 1 year high of $19.54. The firm has a market capitalization of $1,712.52, a price-to-earnings ratio of 13.35 and a beta of 1.55. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.21 and a current ratio of 1.65.
TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.32. TTM Technologies had a net margin of 2.78% and a return on equity of 14.77%. The firm had revenue of $666.81 million for the quarter, compared to analyst estimates of $651.67 million. During the same quarter last year, the business earned $0.39 earnings per share. TTM Technologies’s revenue was up 3.9% compared to the same quarter last year. analysts anticipate that TTM Technologies will post 1.08 EPS for the current fiscal year.
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In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction on Friday, August 25th. The shares were sold at an average price of $14.29, for a total value of $42,870.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 9,000 shares of company stock worth $133,980. 28.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Virginia Retirement Systems ET AL boosted its holdings in shares of TTM Technologies by 13.1% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 63,700 shares of the technology company’s stock valued at $979,000 after purchasing an additional 7,400 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of TTM Technologies by 11.6% in the 3rd quarter. Legal & General Group Plc now owns 182,349 shares of the technology company’s stock valued at $2,802,000 after purchasing an additional 18,895 shares during the last quarter. ETRADE Capital Management LLC lifted its holdings in shares of TTM Technologies by 77.8% during the 3rd quarter. ETRADE Capital Management LLC now owns 87,909 shares of the technology company’s stock valued at $1,351,000 after acquiring an additional 38,453 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of TTM Technologies by 18.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,300 shares of the technology company’s stock valued at $466,000 after acquiring an additional 4,700 shares in the last quarter. Finally, American International Group Inc. lifted its holdings in shares of TTM Technologies by 7.0% during the 3rd quarter. American International Group Inc. now owns 73,089 shares of the technology company’s stock valued at $1,123,000 after acquiring an additional 4,778 shares in the last quarter.
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.
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