TTM Technologies (NASDAQ:TTMI) Upgraded to “Strong-Buy” at ValuEngine

TTM Technologies (NASDAQ:TTMI) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

TTMI has been the topic of several other reports. JPMorgan Chase & Co. downgraded shares of TTM Technologies from an “overweight” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a research report on Monday, August 5th. Zacks Investment Research downgraded shares of TTM Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. BidaskClub upgraded shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on shares of TTM Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, B. Riley began coverage on shares of TTM Technologies in a report on Thursday, September 5th. They issued a “buy” rating and a $17.75 price target on the stock. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $14.69.

Shares of TTMI stock traded up $0.17 on Wednesday, hitting $12.81. 960,800 shares of the stock traded hands, compared to its average volume of 1,025,635. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 9.28 and a beta of 2.51. TTM Technologies has a 52 week low of $8.49 and a 52 week high of $13.92. The firm has a 50 day simple moving average of $12.30 and a two-hundred day simple moving average of $10.97. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.92 and a quick ratio of 1.73.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.01). The firm had revenue of $716.80 million for the quarter, compared to the consensus estimate of $709.49 million. TTM Technologies had a net margin of 2.56% and a return on equity of 5.56%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. Sell-side analysts forecast that TTM Technologies will post 0.24 EPS for the current year.

In other TTM Technologies news, SVP Daniel J. Weber sold 20,000 shares of TTM Technologies stock in a transaction on Friday, August 30th. The shares were sold at an average price of $10.70, for a total value of $214,000.00. Following the sale, the senior vice president now directly owns 57,734 shares in the company, valued at approximately $617,753.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony J. Princiotta sold 23,222 shares of TTM Technologies stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $10.09, for a total transaction of $234,309.98. Following the completion of the sale, the insider now owns 51,408 shares in the company, valued at $518,706.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,939 shares of company stock worth $784,007. 6.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in shares of TTM Technologies by 155.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,288 shares of the technology company’s stock worth $40,000 after buying an additional 1,999 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of TTM Technologies in the 2nd quarter worth $45,000. First Mercantile Trust Co. grew its stake in shares of TTM Technologies by 304.1% in the 2nd quarter. First Mercantile Trust Co. now owns 8,809 shares of the technology company’s stock worth $90,000 after buying an additional 6,629 shares in the last quarter. Miles Capital Inc. purchased a new position in shares of TTM Technologies in the 2nd quarter worth $105,000. Finally, Neuburgh Advisers LLC grew its stake in shares of TTM Technologies by 30.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 11,568 shares of the technology company’s stock worth $118,000 after buying an additional 2,720 shares in the last quarter.

TTM Technologies Company Profile

TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments, PCB and E-M Solutions. The company offers a range of PCBs and electro-mechanical solutions, including conventional PCBs, high density interconnect PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, and IC substrates.

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