Zacks Investment Research upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a buy rating in a research report report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $13.00 target price 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. “
TTMI has been the topic of a number of other research reports. JPMorgan Chase & Co. cut shares of TTM Technologies from an overweight rating to a neutral rating and set a $14.00 target price on the stock. in a report on Monday, August 5th. B. Riley began coverage on shares of TTM Technologies in a report on Thursday, September 5th. They issued a buy rating and a $17.75 target price on the stock. ValuEngine raised shares of TTM Technologies from a hold rating to a buy rating in a report on Thursday, September 5th. BidaskClub cut shares of TTM Technologies from a buy rating to a hold rating in a report on Thursday. Finally, Stifel Nicolaus raised their target price on shares of TTM Technologies from $12.00 to $13.00 and gave the stock a buy rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $14.44.
NASDAQ TTMI traded up $0.13 during trading hours on Thursday, reaching $12.18. The company’s stock had a trading volume of 479,282 shares, compared to its average volume of 1,041,665. The company has a current ratio of 1.91, a quick ratio of 1.71 and a debt-to-equity ratio of 1.21. The business has a 50-day simple moving average of $11.58 and a 200 day simple moving average of $10.98. TTM Technologies has a 52 week low of $8.49 and a 52 week high of $14.87. The stock has a market cap of $1.27 billion, a PE ratio of 8.82 and a beta of 2.52.
TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $622.68 million. During the same quarter last year, the company posted $0.48 earnings per share. TTM Technologies’s revenue was down 11.7% on a year-over-year basis. As a group, equities analysts predict that TTM Technologies will post 0.46 EPS for the current year.
In other news, EVP Tai Keung Chung sold 29,839 shares of TTM Technologies stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $10.58, for a total transaction of $315,696.62. Following the sale, the executive vice president now owns 48,518 shares of the company’s stock, valued at $513,320.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony J. Princiotta sold 23,222 shares of TTM Technologies 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 sale, the insider now directly owns 51,408 shares in the company, valued at approximately $518,706.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,939 shares of company stock worth $784,007. Corporate insiders own 6.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of TTM Technologies during the second quarter valued at approximately $45,000. First Mercantile Trust Co. raised its holdings in shares of TTM Technologies by 304.1% during the second quarter. First Mercantile Trust Co. now owns 8,809 shares of the technology company’s stock valued at $90,000 after buying an additional 6,629 shares during the last quarter. Miles Capital Inc. bought a new stake in shares of TTM Technologies during the second quarter valued at approximately $105,000. Neuburgh Advisers LLC raised its holdings in shares of TTM Technologies by 30.7% during the second quarter. Neuburgh Advisers LLC now owns 11,568 shares of the technology company’s stock valued at $118,000 after buying an additional 2,720 shares during the last quarter. Finally, Sawtooth Solutions LLC bought a new stake in shares of TTM Technologies during the first quarter valued at approximately $161,000.
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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