Zacks Investment Research downgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a strong sell rating in a research report released on Wednesday.
According to Zacks, “TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. “
Several other equities research analysts have also recently issued reports on TTMI. Stifel Nicolaus lowered their price objective on TTM Technologies from $20.00 to $18.00 and set a buy rating on the stock in a report on Thursday, February 8th. Needham & Company LLC lowered their price objective on TTM Technologies from $22.00 to $20.00 and set a strong-buy rating on the stock in a report on Thursday, February 8th. JPMorgan Chase & Co. reiterated an overweight rating and issued a $20.00 price objective (down from $22.00) on shares of TTM Technologies in a report on Thursday, February 8th. BidaskClub upgraded TTM Technologies from a hold rating to a buy rating in a report on Thursday, January 18th. Finally, SunTrust Banks assumed coverage on TTM Technologies in a report on Thursday, December 14th. They set a buy rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $19.50.
TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. TTM Technologies had a return on equity of 13.26% and a net margin of 4.67%. The company had revenue of $739.30 million for the quarter, compared to analysts’ expectations of $724.65 million. During the same period in the previous year, the firm posted $0.58 EPS. TTM Technologies’s revenue was up 4.6% compared to the same quarter last year. equities research analysts anticipate that TTM Technologies will post 1.04 earnings per share for the current year.
In other news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $16.10, for a total transaction of $48,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 28.40% of the company’s stock.
Several institutional investors have recently modified their holdings of TTMI. Glenmede Trust Co. NA purchased a new stake in shares of TTM Technologies during the 4th quarter valued at approximately $34,384,000. Tocqueville Asset Management L.P. raised its position in shares of 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 valued at $31,580,000 after buying an additional 1,060,396 shares during the period. Hood River Capital Management LLC purchased a new stake in shares of TTM Technologies during the 3rd quarter valued at approximately $16,278,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of TTM Technologies during the 4th quarter valued at approximately $16,390,000. Finally, Cortina Asset Management LLC purchased a new stake in shares of TTM Technologies during the 3rd quarter valued at approximately $13,685,000.
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.
Receive News & Ratings for TTM Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TTM Technologies and related companies with MarketBeat.com's FREE daily email newsletter.