TTM Technologies, Inc. (NASDAQ:TTMI) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $17.50 price target on the technology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 29.06% from the stock’s previous close. The analysts noted that the move was a valuation call.
TTMI has been the topic of a number of other research reports. BidaskClub raised TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Needham & Company LLC increased their target price on TTM Technologies from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, June 9th. TheStreet raised TTM Technologies from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Zacks Investment Research downgraded TTM Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, J P Morgan Chase & Co set a $22.00 target price on TTM Technologies and gave the company a “buy” rating in a report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.13.
Shares of TTM Technologies (TTMI) opened at 13.56 on Thursday. TTM Technologies has a 52-week low of $10.04 and a 52-week high of $19.54. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 18.97 and a beta of 1.46. The firm’s 50-day moving average is $16.10 and its 200 day moving average is $16.46.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by $0.04. TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The business had revenue of $627.20 million for the quarter, compared to analysts’ expectations of $625.43 million. During the same period last year, the business earned $0.28 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that TTM Technologies will post $1.53 earnings per share for the current year.
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In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $18.43, for a total value of $55,290.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Daniel J. Weber sold 3,605 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total value of $64,601.60. Following the completion of the transaction, the senior vice president now directly owns 48,270 shares in the company, valued at approximately $864,998.40. The disclosure for this sale can be found here. In the last three months, insiders sold 11,074 shares of company stock worth $201,140. 28.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in TTM Technologies during the first quarter valued at approximately $101,000. Riverhead Capital Management LLC increased its position in TTM Technologies by 71.5% in the second quarter. Riverhead Capital Management LLC now owns 6,860 shares of the technology company’s stock valued at $119,000 after buying an additional 2,860 shares during the period. Pacad Investment Ltd. bought a new position in TTM Technologies during the second quarter valued at approximately $133,000. State of Alaska Department of Revenue increased its position in TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock valued at $150,000 after buying an additional 140 shares during the period. Finally, Sei Investments Co. increased its position in TTM Technologies by 197.1% in the second quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock valued at $161,000 after buying an additional 6,127 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.
About TTM Technologies
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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