TTM Technologies Inc. (TTMI) Sees Large Volume Increase
Shares of TTM Technologies Inc. (NASDAQ:TTMI) saw unusually-high trading volume on Monday . Approximately 2,278,824 shares traded hands during mid-day trading, an increase of 210% from the previous session’s volume of 735,626 shares.The stock last traded at $10.39 and had previously closed at $9.95.
TTMI has been the topic of several analyst reports. Zacks Investment Research downgraded shares of TTM Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, April 16th. Stifel Nicolaus reiterated a “buy” rating on shares of TTM Technologies in a research note on Saturday, May 14th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of TTM Technologies in a research note on Wednesday, May 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of TTM Technologies from $10.50 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, June 10th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.70.
The company has a market capitalization of $1.03 billion and a PE ratio of 57.49. The firm’s 50-day moving average is $8.04 and its 200-day moving average is $6.97.
TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. During the same period last year, the business posted $0.17 EPS. The business had revenue of $601.80 million for the quarter, compared to analysts’ expectations of $601.48 million. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Equities analysts anticipate that TTM Technologies Inc. will post $1.08 EPS for the current fiscal year.
In other TTM Technologies news, Director Kenton K. Alder sold 36,823 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $9.94, for a total transaction of $366,020.62. Following the transaction, the director now owns 35,267 shares of the company’s stock, valued at approximately $350,553.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel J. Weber sold 10,222 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $10.43, for a total transaction of $106,615.46. Following the transaction, the senior vice president now directly owns 60,530 shares in the company, valued at approximately $631,327.90. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Bank of Montreal Can increased its position in TTM Technologies by 0.6% in the fourth quarter. Bank of Montreal Can now owns 166,946 shares of the company’s stock worth $1,087,000 after buying an additional 924 shares during the period. State of Wisconsin Investment Board increased its position in TTM Technologies by 0.7% in the fourth quarter. State of Wisconsin Investment Board now owns 588,934 shares of the company’s stock worth $3,834,000 after buying an additional 4,184 shares during the period. Finally, Paradigm Capital Management Inc. NY increased its position in TTM Technologies by 3.2% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 3,450,179 shares of the company’s stock worth $22,461,000 after buying an additional 107,800 shares during the period.
TTM Technologies, Inc is a provider of printed circuit board (PCB) products and backplane assemblies, which serve as the foundation of electronic products. The Company operates a total of 13 facilities in the United States and the People’s Republic of China (China). It manages operations based on two geographic operating segments: Asia Pacific, which consists of five PCB fabrication plants, and North America, which consists of seven domestic PCB fabrication plants, including a facility that provides follow-on value-added services primarily for one of the PCB fabrication plants, and one backplane assembly plant in Shanghai, China, which is managed in conjunction with its United States operations.
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