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TTM Technologies (NASDAQ:TTMI) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of TTM Technologies (NASDAQ:TTMI) from a buy rating to a hold rating in a research note released on Friday, Zacks.com reports. Zacks Investment Research currently has $14.00 price objective on the technology company’s stock.

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. “

Several other analysts have also recently weighed in on the company. ValuEngine raised TTM Technologies from a hold rating to a buy rating in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered TTM Technologies from an overweight rating to a neutral rating and set a $14.00 price objective on the stock. in a research note on Monday, August 5th. BidaskClub upgraded TTM Technologies from a hold rating to a buy rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their price objective on TTM Technologies from $12.00 to $13.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, B. Riley assumed coverage on TTM Technologies in a research note on Thursday, September 5th. They set a buy rating and a $17.75 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $14.69.

NASDAQ:TTMI traded up $0.24 during mid-day trading on Friday, hitting $12.88. 12,710 shares of the stock were exchanged, compared to its average volume of 604,251. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.33 and a beta of 2.52. The firm’s 50-day simple moving average is $12.14 and its 200 day simple moving average is $11.00. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.71 and a current ratio of 1.91. TTM Technologies has a fifty-two week low of $8.49 and a fifty-two week high of $13.92.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The business had revenue of $633.04 million during the quarter, compared to analysts’ expectations of $622.68 million. TTM Technologies had a return on equity of 6.56% and a net margin of 2.93%. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS. On average, analysts predict that TTM Technologies will post 0.46 EPS for the current fiscal year.

In other news, EVP Tai Keung Chung sold 29,839 shares of TTM Technologies stock in a transaction 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 transaction, the executive vice president now owns 48,518 shares in the company, valued at approximately $513,320.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Daniel J. Weber sold 20,000 shares of TTM Technologies stock in a transaction on Friday, August 30th. The shares were sold at an average price of $10.70, for a total value of $214,000.00. Following the completion of the transaction, the senior vice president now owns 57,734 shares in the company, valued at approximately $617,753.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,939 shares of company stock worth $784,007. Corporate insiders own 6.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in TTM Technologies during the 2nd quarter worth $45,000. First Mercantile Trust Co. grew its position in TTM Technologies by 304.1% during the 2nd quarter. First Mercantile Trust Co. now owns 8,809 shares of the technology company’s stock worth $90,000 after acquiring an additional 6,629 shares during the last quarter. Miles Capital Inc. bought a new stake in TTM Technologies during the 2nd quarter worth $105,000. Neuburgh Advisers LLC grew its position in TTM Technologies by 30.7% during the 2nd quarter. Neuburgh Advisers LLC now owns 11,568 shares of the technology company’s stock worth $118,000 after acquiring an additional 2,720 shares during the last quarter. Finally, Advisor Partners LLC bought a new stake in TTM Technologies during the 3rd quarter worth $134,000.

TTM Technologies Company Profile

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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