Other analysts have also recently issued reports about the company. Stifel Nicolaus upped their price objective on TTM Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research cut TTM Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. B. Riley started coverage on TTM Technologies in a report on Thursday, September 5th. They set a “buy” rating and a $17.75 price objective on the stock. JPMorgan Chase & Co. cut TTM Technologies from an “overweight” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Monday, August 5th. Finally, ValuEngine raised TTM Technologies from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. TTM Technologies currently has a consensus rating of “Hold” and an average price target of $14.44.
Shares of TTMI opened at $12.05 on Thursday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 18.02 and a beta of 2.52. TTM Technologies has a 1 year low of $8.49 and a 1 year high of $14.87. The business’s 50 day simple moving average is $11.58 and its 200-day simple moving average is $10.98. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.91 and a quick ratio of 1.71.
TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The business had revenue of $633.04 million for the quarter, compared to analysts’ expectations of $622.68 million. TTM Technologies had a return on equity of 6.56% and a net margin of 2.93%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. On average, sell-side analysts expect that TTM Technologies will post 0.46 earnings per share for the current year.
In other news, insider Anthony J. Princiotta sold 23,222 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $10.09, for a total transaction of $234,309.98. Following the transaction, the insider now owns 51,408 shares of the company’s stock, valued at approximately $518,706.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Daniel J. Weber sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $10.70, for a total value of $214,000.00. Following the transaction, the senior vice president now directly owns 57,734 shares in the company, valued at approximately $617,753.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,939 shares of company stock worth $784,007. Corporate insiders own 6.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of TTM Technologies by 0.7% during the 2nd quarter. BlackRock Inc. now owns 13,869,848 shares of the technology company’s stock valued at $141,473,000 after purchasing an additional 98,489 shares during the last quarter. Macquarie Group Ltd. grew its position in TTM Technologies by 26.0% in the 2nd quarter. Macquarie Group Ltd. now owns 3,502,463 shares of the technology company’s stock valued at $35,725,000 after acquiring an additional 722,397 shares during the last quarter. Nuveen Asset Management LLC grew its position in TTM Technologies by 53.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,393,846 shares of the technology company’s stock valued at $34,618,000 after acquiring an additional 1,180,469 shares during the last quarter. Bank of New York Mellon Corp grew its position in TTM Technologies by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,391,228 shares of the technology company’s stock valued at $14,190,000 after acquiring an additional 52,909 shares during the last quarter. Finally, Tocqueville Asset Management L.P. grew its position in TTM Technologies by 2.9% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 1,316,800 shares of the technology company’s stock valued at $13,431,000 after acquiring an additional 37,450 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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