TTM Technologies Inc. (TTMI) Shares Up 0.9%
TTM Technologies Inc. (NASDAQ:TTMI)’s share price shot up 0.9% during trading on Wednesday . The company traded as high as $10.67 and last traded at $10.64, with a volume of 504,592 shares. The stock had previously closed at $10.55.
A number of brokerages have recently commented on TTMI. JPMorgan Chase & Co. reissued a “buy” rating on shares of TTM Technologies in a report on Tuesday, August 9th. Zacks Investment Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research note on Saturday, July 30th. Needham & Company LLC upped their price objective on shares of TTM Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Stifel Nicolaus cut their price objective on shares of TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday, July 28th. 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 stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.70.
The firm’s 50 day moving average is $9.61 and its 200 day moving average is $7.64. The stock has a market capitalization of $1.08 billion and a price-to-earnings ratio of 59.94.
TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.10. The firm had revenue of $601.80 million for the quarter, compared to analysts’ expectations of $601.48 million. During the same period in the prior year, the firm earned $0.17 EPS. TTM Technologies’s revenue for the quarter was up 35.1% compared to the same quarter last year. Equities analysts expect that TTM Technologies Inc. will post $1.08 earnings per share for the current fiscal year.
In other news, insider Anthony J. Princiotta sold 24,924 shares of TTM Technologies stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $10.58, for a total transaction of $263,695.92. Following the sale, the insider now owns 32,485 shares in the company, valued at $343,691.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Tai Keung Chung sold 70,000 shares of TTM Technologies stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $10.46, for a total transaction of $732,200.00. Following the sale, the executive vice president now owns 100,758 shares in the company, valued at approximately $1,053,928.68. The disclosure for this sale can be found here.
An institutional investor recently raised its position in TTM Technologies stock. Bank of Montreal Can increased its stake in shares of TTM Technologies Inc. (NASDAQ:TTMI) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 166,946 shares of the company’s stock after buying an additional 924 shares during the period. Bank of Montreal Can owned 0.17% of TTM Technologies worth $1,087,000 at the end of the most recent reporting period.
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). The Company operates approximately 30 specialized facilities in the United States, the People’s Republic of China (China), Canada and Mexico.
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