TTM Technologies (NASDAQ:TTMI) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $12.00 price objective on the technology company’s stock.

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 brokerages also recently commented on TTMI. BidaskClub raised shares of TTM Technologies from a hold rating to a buy rating in a research note on Tuesday, August 6th. Needham & Company LLC began coverage on shares of TTM Technologies in a research note on Tuesday, May 7th. They set a hold rating for the company. JPMorgan Chase & Co. downgraded shares of TTM Technologies from an overweight rating to a neutral rating and set a $14.00 price objective for the company. in a research note on Monday, August 5th. ValuEngine downgraded shares of TTM Technologies from a buy rating to a hold rating in a research note on Wednesday, August 7th. Finally, TheStreet downgraded shares of TTM Technologies from a b- rating to a c+ rating in a research note on Friday, May 24th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $13.00.

TTM Technologies stock opened at $9.92 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 1.91 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $1.10 billion, a PE ratio of 7.19 and a beta of 2.52. The firm has a fifty day simple moving average of $10.18 and a two-hundred day simple moving average of $11.07. TTM Technologies has a twelve month low of $8.49 and a twelve month high of $18.94.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $633.04 million during the quarter, compared to the consensus estimate of $622.68 million. TTM Technologies had a net margin of 2.93% and a return on equity of 6.56%. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, equities analysts expect that TTM Technologies will post 0.45 earnings per share for the current fiscal year.

In other news, EVP Tai Keung Chung sold 29,839 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $10.58, for a total transaction of $315,696.62. Following the completion of the transaction, the executive vice president now directly owns 48,518 shares of the company’s stock, valued at $513,320.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Several large investors have recently modified their holdings of TTMI. First Mercantile Trust Co. bought a new position in shares of TTM Technologies during the first quarter valued at about $26,000. Versant Capital Management Inc increased its position in shares of TTM Technologies by 566.3% during the first quarter. Versant Capital Management Inc now owns 2,885 shares of the technology company’s stock valued at $33,000 after buying an additional 2,452 shares during the period. Resources Investment Advisors Inc. purchased a new position in shares of TTM Technologies during the first quarter valued at about $34,000. Acadian Asset Management LLC purchased a new position in shares of TTM Technologies during the second quarter valued at about $45,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of TTM Technologies during the first quarter valued at about $70,000.

TTM Technologies Company Profile

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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