TTM Technologies (TTMI) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of TTM Technologies (NASDAQ:TTMI) from a sell rating to a hold rating in a report released on Wednesday.

A number of other research firms have also recently weighed in on TTMI. Macquarie initiated coverage on shares of TTM Technologies in a research report on Monday, October 8th. They issued an outperform rating for the company. Needham & Company LLC upped their price objective on shares of TTM Technologies from $20.00 to $23.00 and gave the company a strong-buy rating in a research report on Thursday, August 2nd. BidaskClub cut shares of TTM Technologies from a hold rating to a sell rating in a research report on Friday, August 17th. Finally, Zacks Investment Research cut shares of TTM Technologies from a buy rating to a hold rating in a research report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. TTM Technologies presently has an average rating of Hold and an average target price of $20.40.

NASDAQ:TTMI opened at $14.82 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.57. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 14.25 and a beta of 1.92. TTM Technologies has a 1-year low of $13.72 and a 1-year high of $19.91.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The company had revenue of $716.89 million during the quarter, compared to analysts’ expectations of $728.97 million. TTM Technologies had a net margin of 5.91% and a return on equity of 15.85%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. As a group, sell-side analysts expect that TTM Technologies will post 1.09 earnings per share for the current fiscal year.

In other news, insider William Kent Hardwick sold 3,115 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $18.91, for a total transaction of $58,904.65. Following the transaction, the insider now owns 44,997 shares of the company’s stock, valued at $850,893.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian W. Barber sold 1,315 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $19.24, for a total transaction of $25,300.60. Following the transaction, the chief operating officer now directly owns 76,280 shares in the company, valued at approximately $1,467,627.20. The disclosure for this sale can be found here. Insiders have sold 27,775 shares of company stock worth $525,426 in the last ninety days. Corporate insiders own 10.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Glenmede Trust Co. NA lifted its position in shares of TTM Technologies by 19.2% during the second quarter. Glenmede Trust Co. NA now owns 2,615,002 shares of the technology company’s stock worth $46,102,000 after purchasing an additional 420,617 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of TTM Technologies by 47.3% during the second quarter. Victory Capital Management Inc. now owns 2,542,592 shares of the technology company’s stock worth $44,826,000 after purchasing an additional 816,626 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of TTM Technologies by 0.6% during the second quarter. Macquarie Group Ltd. now owns 2,329,048 shares of the technology company’s stock worth $41,061,000 after purchasing an additional 13,519 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in TTM Technologies by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 2,280,099 shares of the technology company’s stock worth $40,198,000 after acquiring an additional 760,892 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. lifted its holdings in TTM Technologies by 6.2% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 1,416,321 shares of the technology company’s stock worth $22,534,000 after acquiring an additional 82,790 shares during the last quarter.

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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Analyst Recommendations for TTM Technologies (NASDAQ:TTMI)

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