TTM Technologies (TTMI) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a buy rating in a report published on Thursday.

TTMI has been the topic of a number of other research reports. Zacks Investment Research cut TTM Technologies from a hold rating to a strong sell rating in a research note on Thursday, October 26th. SunTrust Banks began coverage on TTM Technologies in a research note on Thursday, December 14th. They issued a buy rating and a $20.00 price target on the stock. Finally, Stifel Nicolaus reissued a buy rating and issued a $17.50 price target on shares of TTM Technologies in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $20.38.

Shares of TTM Technologies (TTMI) traded up $0.10 on Thursday, reaching $17.59. The company had a trading volume of 509,404 shares, compared to its average volume of 628,575. The stock has a market cap of $1,790.93, a PE ratio of 13.96 and a beta of 1.55. TTM Technologies has a 1 year low of $12.76 and a 1 year high of $19.54. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.65 and a quick ratio of 1.21.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. The firm had revenue of $666.81 million for the quarter, compared to analysts’ expectations of $651.67 million. TTM Technologies had a return on equity of 14.77% and a net margin of 2.78%. TTM Technologies’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. equities analysts anticipate that TTM Technologies will post 1.08 EPS for the current year.

In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $16.07, for a total transaction of $48,210.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 28.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in TTMI. Vanguard Group Inc. boosted its position in TTM Technologies by 9.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,967,044 shares of the technology company’s stock worth $225,108,000 after acquiring an additional 1,133,604 shares during the period. Tocqueville Asset Management L.P. boosted its position in TTM Technologies by 106.7% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 2,054,648 shares of the technology company’s stock worth $31,580,000 after acquiring an additional 1,060,396 shares during the period. Hood River Capital Management LLC acquired a new stake in TTM Technologies during the 3rd quarter worth about $16,278,000. Cortina Asset Management LLC acquired a new stake in TTM Technologies during the 3rd quarter worth about $13,685,000. Finally, Peregrine Capital Management LLC acquired a new stake in TTM Technologies during the 3rd quarter worth about $11,703,000.

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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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