TTM Technologies (TTMI) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of TTM Technologies (NASDAQ:TTMI) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
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. “
Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded TTM Technologies from a hold rating to a buy rating in a research report on Thursday, January 18th. SunTrust Banks initiated coverage on TTM Technologies in a research report on Thursday, December 14th. They issued a buy rating and a $20.00 price target on the stock. Finally, Stifel Nicolaus restated a buy rating and issued a $17.50 price target on shares of TTM Technologies in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $19.50.
TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. TTM Technologies had a return on equity of 13.26% and a net margin of 4.67%. The business had revenue of $739.30 million during the quarter, compared to the consensus estimate of $724.65 million. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. analysts anticipate that TTM Technologies will post 1.25 earnings per share for the current fiscal year.
In related news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $16.07, for a total value of $48,210.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 28.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Simplex Trading LLC acquired a new position in TTM Technologies in the 3rd quarter valued at about $120,000. Ladenburg Thalmann Financial Services Inc. increased its position in TTM Technologies by 169.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,048 shares of the technology company’s stock valued at $124,000 after acquiring an additional 5,056 shares during the period. Ameritas Investment Partners Inc. increased its position in TTM Technologies by 29.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,112 shares of the technology company’s stock worth $141,000 after purchasing an additional 1,852 shares during the period. Envestnet Asset Management Inc. increased its position in TTM Technologies by 55.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 9,434 shares of the technology company’s stock worth $145,000 after purchasing an additional 3,357 shares during the period. Finally, FDx Advisors Inc. acquired a new position in TTM Technologies during the 4th quarter worth approximately $160,000.
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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