Zacks Investment Research upgraded shares of TTM Technologies, Inc. (NASDAQ:TTMI) from a hold rating to a strong-buy rating in a research report released on Saturday. Zacks Investment Research currently has $20.00 price target on the stock.
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. “
Other research analysts have also issued research reports about the company. TheStreet upgraded TTM Technologies from a hold rating to a buy rating in a research report on Wednesday, November 23rd. Needham & Company LLC boosted their target price on TTM Technologies from $14.00 to $18.00 and gave the company a buy rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their target price on TTM Technologies from $15.00 to $17.00 and gave the company a buy rating in a research report on Thursday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $17.00.
TTM Technologies (NASDAQ:TTMI) opened at 16.75 on Friday. The company’s 50-day moving average price is $14.63 and its 200-day moving average price is $12.52. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 36.81 and a beta of 1.39. TTM Technologies has a 52-week low of $6.05 and a 52-week high of $17.27.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.13. The company earned $706.50 million during the quarter, compared to analyst estimates of $671.57 million. TTM Technologies had a return on equity of 15.90% and a net margin of 1.38%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. Equities research analysts expect that TTM Technologies will post $1.58 EPS for the current fiscal year.
In related news, CFO Todd B. Schull sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the sale, the chief financial officer now owns 126,385 shares in the company, valued at $1,895,775. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas L. Soder sold 6,666 shares of the business’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $15.00, for a total value of $99,990.00. Following the completion of the sale, the insider now owns 91,749 shares of the company’s stock, valued at approximately $1,376,235. The disclosure for this sale can be found here. Insiders sold 19,666 shares of company stock valued at $293,670 in the last quarter. 28.40% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in TTMI. First Mercantile Trust Co. purchased a new stake in shares of TTM Technologies during the third quarter worth about $193,000. Sterling Capital Management LLC purchased a new stake in shares of TTM Technologies during the second quarter worth about $521,000. Schwab Charles Investment Management Inc. raised its stake in shares of TTM Technologies by 14.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 500,776 shares of the company’s stock worth $3,771,000 after buying an additional 63,993 shares during the last quarter. 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 worth $4,044,000 after buying an additional 91,987 shares during the last quarter. Finally, HRS Investment Holdings LLC purchased a new stake in shares of TTM Technologies during the second quarter worth about $151,000. Hedge funds and other institutional investors own 79.41% of the company’s stock.
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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