TTM Technologies (NASDAQ:TTMI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports. They presently have a $14.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.76% from the company’s previous close.
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 equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of TTM Technologies from an “overweight” rating to a “neutral” rating and set a $14.00 price objective for the company. in a report on Monday, August 5th. BidaskClub upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. ValuEngine upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. B. Riley assumed coverage on shares of TTM Technologies in a report on Thursday, September 5th. They set a “buy” rating and a $17.75 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on shares of TTM Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $14.69.
Shares of TTMI stock opened at $12.64 on Friday. TTM Technologies has a one year low of $8.49 and a one year high of $13.92. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.91 and a quick ratio of 1.71. The company’s fifty day moving average price is $12.14 and its 200-day moving average price is $11.00. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.16 and a beta of 2.52.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. TTM Technologies had a net margin of 2.93% and a return on equity of 6.56%. The firm had revenue of $633.04 million during the quarter, compared to analysts’ expectations of $622.68 million. During the same period in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. Equities research analysts expect that TTM Technologies will post 0.46 earnings per share for the current fiscal year.
In other news, SVP Daniel J. Weber sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 57,734 shares in the company, valued at approximately $617,753.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony J. Princiotta sold 23,222 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $10.09, for a total transaction of $234,309.98. Following the completion of the sale, the insider now owns 51,408 shares of the company’s stock, valued at approximately $518,706.72. The disclosure for this sale can be found here. Insiders have sold a total of 74,939 shares of company stock valued at $784,007 in the last quarter. 6.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its holdings in shares of TTM Technologies by 3.7% in the 3rd 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. Rhumbline Advisers raised its holdings in shares of TTM Technologies by 9.2% in the 3rd quarter. Rhumbline Advisers now owns 315,826 shares of the technology company’s stock valued at $3,851,000 after purchasing an additional 26,645 shares in the last quarter. Advisor Partners LLC bought a new stake in shares of TTM Technologies in the 3rd quarter valued at about $134,000. Fox Run Management L.L.C. bought a new stake in shares of TTM Technologies in the 3rd quarter valued at about $145,000. Finally, Skyline Asset Management LP bought a new stake in shares of TTM Technologies in the 3rd quarter valued at about $3,479,000.
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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