TTM Technologies (TTMI) Upgraded at Zacks Investment Research
TTM Technologies (NASDAQ:TTMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. “
A number of other research firms have also weighed in on TTMI. Stifel Nicolaus reiterated a “buy” rating and set a $17.50 price objective on shares of TTM Technologies in a research note on Wednesday, November 1st. BidaskClub lowered TTM Technologies from a “hold” rating to a “sell” rating in a research note on Monday, December 11th. Finally, SunTrust Banks started coverage on TTM Technologies in a research note on Thursday, December 14th. They issued a “buy” rating and a $20.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.50.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. The business had revenue of $739.30 million during the quarter, compared to analyst estimates of $724.65 million. TTM Technologies had a return on equity of 14.77% and a net margin of 2.78%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. equities research analysts expect that TTM Technologies will post 1.08 earnings per share for the current fiscal year.
In related news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $16.07, for a total value of $48,210.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 28.40% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in TTMI. Simplex Trading LLC purchased a new position in shares of TTM Technologies in the 3rd quarter valued at about $120,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of TTM Technologies by 169.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,048 shares of the technology company’s stock valued at $124,000 after purchasing an additional 5,056 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of TTM Technologies by 29.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,112 shares of the technology company’s stock valued at $141,000 after purchasing an additional 1,852 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of TTM Technologies by 55.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 9,434 shares of the technology company’s stock valued at $145,000 after purchasing an additional 3,357 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of TTM Technologies by 5.1% in the 2nd quarter. Suntrust Banks Inc. now owns 11,933 shares of the technology company’s stock valued at $207,000 after purchasing an additional 583 shares in the last quarter.
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TTM Technologies Company Profile
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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