Analysts Set TTM Technologies, Inc. (NASDAQ:TTMI) PT at $14.25

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TTM Technologies, Inc. (NASDAQ:TTMI) has earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $14.40.

TTMI has been the topic of several research reports. Smith Barney Citigroup initiated coverage on TTM Technologies in a report on Monday. They issued an “outperform” rating and a $15.00 target price on the stock. Needham & Company LLC raised TTM Technologies from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Thursday, July 2nd. SunTrust Banks increased their price objective on TTM Technologies from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Zacks Investment Research raised TTM Technologies from a “sell” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, August 5th. Finally, BidaskClub lowered TTM Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 21st.

Shares of TTM Technologies stock traded down $0.38 during trading hours on Wednesday, hitting $10.96. 1,302,405 shares of the company were exchanged, compared to its average volume of 1,246,954. TTM Technologies has a 1 year low of $8.06 and a 1 year high of $16.25. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $11.68 and a 200-day moving average of $11.27. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 5.25 and a beta of 1.83.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.17. The firm had revenue of $570.30 million for the quarter, compared to analyst estimates of $536.88 million. TTM Technologies had a return on equity of 3.60% and a net margin of 9.30%. TTM Technologies’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. As a group, research analysts anticipate that TTM Technologies will post 0.18 earnings per share for the current fiscal year.

In related news, SVP Anthony J. Princiotta sold 6,564 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $11.89, for a total transaction of $78,045.96. Following the transaction, the senior vice president now directly owns 14,865 shares in the company, valued at $176,744.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.85% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of TTM Technologies by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 11,043,145 shares of the technology company’s stock valued at $130,971,000 after buying an additional 292,715 shares during the period. Macquarie Group Ltd. raised its holdings in shares of TTM Technologies by 6.8% during the 2nd quarter. Macquarie Group Ltd. now owns 5,538,966 shares of the technology company’s stock valued at $65,692,000 after buying an additional 353,179 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of TTM Technologies by 6.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,540,525 shares of the technology company’s stock valued at $41,991,000 after buying an additional 203,746 shares during the period. State Street Corp raised its holdings in shares of TTM Technologies by 9.9% during the 1st quarter. State Street Corp now owns 3,428,857 shares of the technology company’s stock valued at $35,454,000 after buying an additional 308,059 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of TTM Technologies by 33.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,179,063 shares of the technology company’s stock valued at $25,844,000 after buying an additional 547,012 shares during the period.

About TTM Technologies

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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