TTM Technologies, Inc. (TTMI) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of TTM Technologies, Inc. (NASDAQ:TTMI) from a strong sell rating to a hold rating in a research report report published 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. “

A number of other research analysts have also weighed in on TTMI. Needham & Company LLC raised TTM Technologies from a buy rating to a strong-buy rating and set a $22.00 price objective on the stock in a report on Monday, August 7th. Stifel Nicolaus reaffirmed a buy rating and set a $17.50 price objective on shares of TTM Technologies in a report on Wednesday, November 1st. BidaskClub lowered TTM Technologies from a hold rating to a sell rating in a report on Tuesday, August 8th. ValuEngine downgraded TTM Technologies from a strong-buy rating to a buy rating in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co set a $22.00 target price on TTM Technologies and gave the stock a buy rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $20.50.

TTM Technologies (NASDAQ:TTMI) traded down $0.13 during trading hours on Wednesday, hitting $16.62. The stock had a trading volume of 745,300 shares, compared to its average volume of 1,036,138. The firm has a market capitalization of $1,692.17, a price-to-earnings ratio of 13.19 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 has a 1-year low of $11.76 and a 1-year high of $19.54.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. TTM Technologies had a return on equity of 14.77% and a net margin of 2.78%. The firm had revenue of $666.81 million for the quarter, compared to analyst estimates of $651.67 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. TTM Technologies’s quarterly revenue was up 3.9% on a year-over-year basis. analysts expect that TTM Technologies will post 1.08 earnings per share for the current fiscal year.

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In other news, Director Kenton K. Alder sold 3,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $14.70, for a total value of $44,100.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 9,000 shares of company stock worth $133,980 over the last 90 days. Company insiders own 28.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. Virginia Retirement Systems ET AL lifted its position in shares of TTM Technologies by 13.1% in the third quarter. Virginia Retirement Systems ET AL now owns 63,700 shares of the technology company’s stock valued at $979,000 after acquiring an additional 7,400 shares in the last quarter. Legal & General Group Plc lifted its position in TTM Technologies by 11.6% during the third quarter. Legal & General Group Plc now owns 182,349 shares of the technology company’s stock worth $2,802,000 after buying an additional 18,895 shares during the period. ETRADE Capital Management LLC lifted its position in TTM Technologies by 77.8% during the third quarter. ETRADE Capital Management LLC now owns 87,909 shares of the technology company’s stock worth $1,351,000 after buying an additional 38,453 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in TTM Technologies by 18.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,300 shares of the technology company’s stock worth $466,000 after buying an additional 4,700 shares during the period. Finally, American International Group Inc. lifted its position in TTM Technologies by 7.0% during the third quarter. American International Group Inc. now owns 73,089 shares of the technology company’s stock worth $1,123,000 after buying an additional 4,778 shares during the period.

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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