Stifel Nicolaus Downgrades TTM Technologies, Inc. (NASDAQ:TTMI) to Hold
Stifel Nicolaus downgraded shares of TTM Technologies, Inc. (NASDAQ:TTMI) from a buy rating to a hold rating in a research note published on Friday morning, Marketbeat reports. The firm currently has $19.00 price objective on the technology company’s stock, up from their prior price objective of $18.50.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised TTM Technologies from a sell rating to a hold rating in a research note on Wednesday, April 12th. TheStreet raised TTM Technologies from a c rating to a b- rating in a research note on Wednesday, May 3rd. J P Morgan Chase & Co raised TTM Technologies from a neutral rating to an overweight rating and set a $21.00 target price on the stock in a research note on Tuesday, April 4th. BidaskClub raised TTM Technologies from a buy rating to a strong-buy rating in a research note on Monday, July 24th. Finally, Needham & Company LLC lifted their target price on TTM Technologies from $18.00 to $22.00 and gave the company a buy rating in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $20.25.
TTM Technologies (NASDAQ TTMI) opened at 17.38 on Friday. The stock’s 50 day moving average is $18.19 and its 200 day moving average is $16.63. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 24.41 and a beta of 1.47. TTM Technologies has a one year low of $10.04 and a one year high of $19.54.
TTM Technologies (NASDAQ:TTMI) last released its earnings results on Wednesday, May 3rd. The technology company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.13. TTM Technologies had a return on equity of 18.17% and a net margin of 2.92%. The company had revenue of $625.20 million for the quarter, compared to analysts’ expectations of $615 million. During the same quarter in the previous year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts forecast that TTM Technologies will post $1.70 EPS for the current year.
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In other news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $18.43, for a total transaction of $55,290.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Daniel J. Weber sold 3,605 shares of TTM Technologies stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total value of $64,601.60. Following the sale, the senior vice president now owns 48,270 shares of the company’s stock, valued at $864,998.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,074 shares of company stock worth $249,890. Company insiders own 28.40% of the company’s stock.
Several large investors have recently made changes to their positions in TTMI. State Street Corp raised its stake in shares of TTM Technologies by 15.3% in the fourth quarter. State Street Corp now owns 1,758,262 shares of the technology company’s stock valued at $23,966,000 after buying an additional 233,895 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of TTM Technologies by 72.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 23,000 shares of the technology company’s stock valued at $313,000 after buying an additional 9,700 shares in the last quarter. Norges Bank purchased a new stake in shares of TTM Technologies during the fourth quarter valued at about $28,113,000. Quadrature Capital Ltd purchased a new stake in shares of TTM Technologies during the fourth quarter valued at about $390,000. Finally, USA Financial Portformulas Corp raised its stake in shares of TTM Technologies by 32.2% in the fourth quarter. USA Financial Portformulas Corp now owns 56,419 shares of the technology company’s stock valued at $769,000 after buying an additional 13,742 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.
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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