TTM Technologies (TTMI) Upgraded at BidaskClub

TTM Technologies (NASDAQ:TTMI) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also recently issued reports on TTMI. Macquarie initiated coverage on TTM Technologies in a research note on Monday, October 8th. They issued an “outperform” rating for the company. ValuEngine cut TTM Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Cross Research cut TTM Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, Zacks Investment Research upgraded TTM Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Shares of TTMI stock opened at $10.46 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.77 and a quick ratio of 1.60. The company has a market capitalization of $1.06 billion, a P/E ratio of 10.06 and a beta of 2.22. TTM Technologies has a 1 year low of $8.97 and a 1 year high of $19.91.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Tuesday, October 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. The business had revenue of $755.84 million during the quarter, compared to analysts’ expectations of $750.89 million. TTM Technologies had a return on equity of 15.55% and a net margin of 5.92%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. As a group, analysts predict that TTM Technologies will post 1.13 earnings per share for the current year.

In other TTM Technologies news, Director Philip G. Franklin bought 5,095 shares of the business’s stock in a transaction on Thursday, November 15th. The stock was purchased at an average cost of $11.76 per share, for a total transaction of $59,917.20. Following the completion of the purchase, the director now directly owns 79,656 shares of the company’s stock, valued at $936,754.56. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Philip G. Franklin bought 4,905 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were acquired at an average price of $11.78 per share, with a total value of $57,780.90. Following the completion of the purchase, the director now directly owns 84,561 shares of the company’s stock, valued at $996,128.58. The disclosure for this purchase can be found here. 10.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. lifted its stake in shares of TTM Technologies by 8.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 734,727 shares of the technology company’s stock valued at $12,954,000 after acquiring an additional 55,691 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of TTM Technologies by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 199,022 shares of the technology company’s stock valued at $3,513,000 after acquiring an additional 11,854 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of TTM Technologies in the 2nd quarter valued at $5,181,000. Voya Investment Management LLC lifted its stake in shares of TTM Technologies by 578.1% in the 2nd quarter. Voya Investment Management LLC now owns 839,659 shares of the technology company’s stock valued at $14,803,000 after acquiring an additional 715,833 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in shares of TTM Technologies by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 2,329,048 shares of the technology company’s stock valued at $41,061,000 after acquiring an additional 13,519 shares during the last quarter.

About TTM Technologies

TTM Technologies, Inc engages in the manufacture and sale of printed circuit boards and backplane assemblies. It operates through the Printed Circuit Board and Electro-Mechanical Solutions segments. It offers products such as backplanes, system integration, chassis assemblies, integrated circuit substrates and chips, and engineering services.

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