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.
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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