TTM Technologies Inc. (TTMI) Sees Unusually-High Trading Volume
TTM Technologies Inc. (NASDAQ:TTMI) shares saw strong trading volume on Monday . 2,278,824 shares changed 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.
Several analysts have recently commented on the company. Zacks Investment Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research note on Saturday. Stifel Nicolaus reduced their target price on TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday. Needham & Company LLC raised their target price on TTM Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of TTM Technologies in a research note on Sunday, June 12th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $10.70.
The company has a market capitalization of $1.02 billion and a price-to-earnings ratio of 57.15. The stock’s 50-day moving average price is $7.97 and its 200-day moving average price is $6.93.
TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.10. During the same quarter in the previous year, the company earned $0.17 earnings per share. The business had revenue of $601.80 million for the quarter, compared to analysts’ expectations of $601.48 million. The business’s quarterly revenue was up 35.1% on a year-over-year basis. Analysts expect that TTM Technologies Inc. will post $1.08 earnings per share for the current fiscal year.
In other news, SVP Daniel J. Weber sold 10,222 shares of the company’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 completion of the transaction, the senior vice president now directly owns 60,530 shares of the company’s stock, valued at $631,327.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenton K. Alder sold 36,823 shares of the company’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 directly owns 35,267 shares of the company’s stock, valued at $350,553.98. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of the stock. Paradigm Capital Management Inc. NY increased its position in shares of 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 valued at $22,461,000 after buying an additional 107,800 shares during the period. 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 last quarter. Finally, 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 last quarter.
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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