Shares of TTM Technologies, Inc. (NASDAQ:TTMI) gapped up prior to trading on Friday after Zacks Investment Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $17.62, but opened at $17.06. Zacks Investment Research now has a $20.00 price target on the stock. TTM Technologies shares last traded at $16.89, with a volume of 1,681,071 shares traded.
According to Zacks, “TTM Technologies, Inc. provides time-critical, one-stop manufacturing services for highly complex printed circuit boards. Its printed circuit boards serve as the foundation of electronic products such as routers, switches, computer memory modules and communications infrastructure equipment. Its customers include manufacturers of these electronic products and their suppliers. Its customers primarily serve such rapidly growing segments of the electronics industry as networking, high-end computing, including servers, and computer peripherals. “
TTMI has been the subject of several other reports. Needham & Company LLC lifted their price target on TTM Technologies from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on TTM Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday. Finally, TheStreet upgraded TTM Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, November 23rd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. TTM Technologies presently has an average rating of “Buy” and an average target price of $17.00.
In related news, CFO Todd B. Schull sold 10,000 shares of TTM Technologies stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief financial officer now owns 126,385 shares of the company’s stock, valued at $1,895,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $14.56, for a total value of $43,680.00. The disclosure for this sale can be found here. Insiders have sold 19,666 shares of company stock valued at $293,670 in the last three months. 28.40% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of TTMI. Bank of Montreal Can purchased a new stake in shares of TTM Technologies during the second quarter valued at about $3,113,000. American Century Companies Inc. raised its stake in shares of TTM Technologies by 20.7% in the second quarter. American Century Companies Inc. now owns 537,044 shares of the company’s stock valued at $4,044,000 after buying an additional 91,987 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in shares of TTM Technologies during the second quarter valued at about $3,541,000. Ameriprise Financial Inc. raised its stake in shares of TTM Technologies by 79.1% in the second quarter. Ameriprise Financial Inc. now owns 541,109 shares of the company’s stock valued at $4,074,000 after buying an additional 238,910 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of TTM Technologies by 38.4% in the second quarter. Prudential Financial Inc. now owns 210,718 shares of the company’s stock valued at $1,587,000 after buying an additional 58,460 shares during the period. 79.41% of the stock is owned by hedge funds and other institutional investors.
The stock has a market capitalization of $1.68 billion, a PE ratio of 36.81 and a beta of 1.39. The stock has a 50 day moving average of $14.63 and a 200 day moving average of $12.52.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $706.50 million for the quarter, compared to analysts’ expectations of $671.57 million. TTM Technologies had a return on equity of 15.90% and a net margin of 1.38%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, equities research analysts forecast that TTM Technologies, Inc. will post $1.58 EPS for the current year.
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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). 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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