TTM Technologies, Inc. (TTMI) Stock Rating Upgraded by Zacks Investment Research
TTM Technologies, Inc. (NASDAQ:TTMI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “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. As of January 2, 2017, the PCB segment included 13 domestic PCB fabrication plants, including a facility that provides follow-on value-added services primarily for one of the PCB fabrication plants; eight PCB fabrication plants in China and one in Canada. As of January 2, 2017, the E-M Solutions included three custom electronic assembly plants in China. The Company offers a range of PCB products, including conventional PCBs, high density interconnect (HDI) PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, and integrated circuits (IC) substrates. “
Several other equities analysts also recently commented on TTMI. Stifel Nicolaus restated a “buy” rating and issued a $17.50 price objective on shares of TTM Technologies in a research report on Thursday, September 28th. Needham & Company LLC upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research report on Monday, August 7th. BidaskClub downgraded TTM Technologies from a “hold” rating to a “sell” rating in a research 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $20.50.
TTM Technologies (NASDAQ TTMI) opened at 15.63 on Thursday. TTM Technologies has a 12 month low of $10.85 and a 12 month high of $19.54. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 45.97 and a beta of 1.56. The stock’s 50 day moving average price is $14.60 and its 200 day moving average price is $16.13.
TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The business had revenue of $627.20 million during the quarter, compared to analysts’ expectations of $625.43 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. TTM Technologies’s revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that TTM Technologies will post $1.53 earnings per share for the current fiscal year.
In related news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $14.70, for a total value of $44,100.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 9,000 shares of company stock worth $142,260 over the last quarter. 28.40% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Kennedy Capital Management Inc. purchased a new stake in shares of TTM Technologies in the first quarter worth about $4,540,000. Fox Run Management L.L.C. purchased a new stake in shares of TTM Technologies in the second quarter worth about $306,000. Cipher Capital LP lifted its position in shares of TTM Technologies by 82.5% in the second quarter. Cipher Capital LP now owns 153,790 shares of the technology company’s stock worth $2,670,000 after buying an additional 69,510 shares in the last quarter. Brighton Jones LLC purchased a new stake in shares of TTM Technologies in the second quarter worth about $236,000. Finally, Principal Financial Group Inc. lifted its position in shares of TTM Technologies by 3.0% in the first quarter. Principal Financial Group Inc. now owns 690,203 shares of the technology company’s stock worth $11,133,000 after buying an additional 20,061 shares in the last quarter. Institutional investors 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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