Zacks Investment Research upgraded shares of TTM Technologies (NASDAQ:TTMI) from a sell rating to a hold rating in a report issued on Thursday morning.
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. “
A number of other equities analysts have also issued reports on the stock. BidaskClub lowered shares of TTM Technologies from a buy rating to a hold rating in a research report on Thursday, March 29th. JPMorgan Chase reaffirmed an overweight rating and set a $20.00 target price (down previously from $22.00) on shares of TTM Technologies in a research report on Thursday, February 8th. Stifel Nicolaus dropped their target price on shares of TTM Technologies from $20.00 to $18.00 and set a buy rating on the stock in a research report on Thursday, February 8th. Needham & Company LLC dropped their target price on shares of TTM Technologies from $22.00 to $20.00 and set a strong-buy rating on the stock in a research report on Thursday, February 8th. Finally, SunTrust Banks assumed coverage on shares of TTM Technologies in a research report on Thursday, December 14th. They set a buy rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $19.50.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. TTM Technologies had a net margin of 4.67% and a return on equity of 13.26%. The company had revenue of $739.30 million for the quarter, compared to analyst estimates of $724.65 million. During the same quarter last year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. analysts predict that TTM Technologies will post 1.04 earnings per share for the current fiscal year.
In other TTM Technologies news, VP Tony Sanchez sold 3,975 shares of TTM Technologies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $16.09, for a total transaction of $63,957.75. Following the sale, the vice president now owns 29,569 shares in the company, valued at $475,765.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Kent Hardwick sold 2,000 shares of TTM Technologies stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $15.66, for a total transaction of $31,320.00. Following the sale, the insider now owns 43,152 shares in the company, valued at approximately $675,760.32. The disclosure for this sale can be found here. Insiders have sold 141,288 shares of company stock worth $2,274,950 in the last quarter. Corporate insiders own 10.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. boosted its stake in TTM Technologies by 169.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,048 shares of the technology company’s stock worth $124,000 after buying an additional 5,056 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in TTM Technologies by 55.2% during the third quarter. Envestnet Asset Management Inc. now owns 9,434 shares of the technology company’s stock worth $145,000 after buying an additional 3,357 shares in the last quarter. FDx Advisors Inc. acquired a new stake in TTM Technologies during the fourth quarter worth $160,000. Leucadia National Corp acquired a new stake in TTM Technologies during the fourth quarter worth $203,000. Finally, LPL Financial LLC acquired a new stake in TTM Technologies during the fourth quarter worth $208,000.
WARNING: “TTM Technologies (TTMI) Lifted to Hold at Zacks Investment Research” was reported by Week Herald and is the property of of Week Herald. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://weekherald.com/2018/04/16/ttm-technologies-ttmi-lifted-to-hold-at-zacks-investment-research.html.
TTM Technologies Company Profile
TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments: PCB and electro-mechanical solutions (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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.