TTM Technologies (NASDAQ:TTMI) Upgraded to Strong-Buy at ValuEngine

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ValuEngine upgraded shares of TTM Technologies (NASDAQ:TTMI) from a buy rating to a strong-buy rating in a research report report published on Wednesday, ValuEngine reports.

TTMI has been the subject of several other research reports. JPMorgan Chase & Co. downgraded TTM Technologies from an overweight rating to a neutral rating and set a $14.00 price objective for the company. in a research note on Monday, August 5th. Zacks Investment Research downgraded TTM Technologies from a buy rating to a hold rating in a research note on Sunday, November 3rd. BidaskClub raised TTM Technologies from a buy rating to a strong-buy rating in a research note on Wednesday. B. Riley assumed coverage on TTM Technologies in a research note on Thursday, September 5th. They issued a buy rating and a $17.75 price objective for the company. Finally, Stifel Nicolaus upped their price objective on TTM Technologies from $12.00 to $13.00 and gave the company a buy rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. TTM Technologies currently has a consensus rating of Buy and a consensus target price of $14.69.

Shares of TTM Technologies stock traded up $0.17 during mid-day trading on Wednesday, reaching $12.81. 960,800 shares of the stock were exchanged, compared to its average volume of 1,025,635. The company has a current ratio of 1.92, a quick ratio of 1.73 and a debt-to-equity ratio of 1.18. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 9.28 and a beta of 2.51. TTM Technologies has a fifty-two week low of $8.49 and a fifty-two week high of $13.92. The firm has a 50-day simple moving average of $12.30 and a 200 day simple moving average of $10.97.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.01). TTM Technologies had a net margin of 2.56% and a return on equity of 5.56%. The firm had revenue of $716.80 million during the quarter, compared to analyst estimates of $709.49 million. During the same period in the prior year, the company earned $0.50 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, research analysts predict that TTM Technologies will post 0.24 EPS for the current fiscal year.

In related news, EVP Tai Keung Chung sold 29,839 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $10.58, for a total value of $315,696.62. Following the sale, the executive vice president now directly owns 48,518 shares in the company, valued at $513,320.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony J. Princiotta sold 23,222 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $10.09, for a total value of $234,309.98. Following the completion of the sale, the insider now owns 51,408 shares in the company, valued at $518,706.72. The disclosure for this sale can be found here. Insiders sold 74,939 shares of company stock worth $784,007 over the last quarter. 6.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in shares of TTM Technologies by 3.7% during the third quarter. Louisiana State Employees Retirement System now owns 36,300 shares of the technology company’s stock valued at $443,000 after purchasing an additional 1,300 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of TTM Technologies by 6.3% during the third quarter. Mason Street Advisors LLC now owns 33,313 shares of the technology company’s stock valued at $406,000 after purchasing an additional 1,983 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of TTM Technologies by 155.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,288 shares of the technology company’s stock valued at $40,000 after purchasing an additional 1,999 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in TTM Technologies by 6.3% in the second quarter. Crossmark Global Holdings Inc. now owns 34,160 shares of the technology company’s stock worth $348,000 after acquiring an additional 2,028 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in TTM Technologies by 1.6% in the second quarter. Arizona State Retirement System now owns 145,597 shares of the technology company’s stock worth $1,485,000 after acquiring an additional 2,285 shares in the last quarter.

About TTM Technologies

TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments, PCB and E-M Solutions. The company offers a range of PCBs and electro-mechanical solutions, including conventional PCBs, high density interconnect PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, and IC substrates.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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