Trading Report: Today, TTM Technologies Inc. (TTMI) Rating Increased to Buy at TheStreet

Today, TTM Technologies Inc. (TTMI) Rating Increased to Buy at TheStreet

TTM Technologies Inc. (NASDAQ:TTMI) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other equities analysts have also commented on the company. Stifel Nicolaus lowered their price target on TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Thursday, July 28th. Zacks Investment Research upgraded TTM Technologies from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, October 25th. JPMorgan Chase & Co. set a $13.00 price objective on TTM Technologies and gave the stock a “buy” rating in a report on Wednesday, September 28th. Finally, Needham & Company LLC lifted their price objective on TTM Technologies from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Five research analysts have rated the stock with a buy rating, TTM Technologies presently has a consensus rating of “Buy” and an average target price of $12.38.

TTM Technologies (NASDAQ:TTMI) traded down 1.24% on Wednesday, reaching $13.55. 941,852 shares of the company were exchanged. The company’s 50-day moving average price is $12.69 and its 200-day moving average price is $9.98. TTM Technologies has a 12-month low of $4.67 and a 12-month high of $15.00. The stock has a market capitalization of $1.36 billion, a P/E ratio of 29.78 and a beta of 1.44.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $641.72 million for the quarter, compared to analysts’ expectations of $641.47 million. TTM Technologies had a net margin of 1.86% and a return on equity of 12.58%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. Equities research analysts anticipate that TTM Technologies will post $1.27 earnings per share for the current fiscal year.

In related news, Director Kenton K. Alder sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $11.46, for a total transaction of $103,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenton K. Alder sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $12.00, for a total value of $900,000.00. Following the transaction, the director now owns 85,267 shares of the company’s stock, valued at $1,023,204. The disclosure for this sale can be found here. Company insiders own 28.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TTMI. Dimensional Fund Advisors LP boosted its stake in shares of TTM Technologies by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,236,077 shares of the company’s stock valued at $54,486,000 after buying an additional 593,037 shares during the period. Vanguard Group Inc. boosted its stake in shares of TTM Technologies by 5.4% in the second quarter. Vanguard Group Inc. now owns 5,393,999 shares of the company’s stock valued at $40,618,000 after buying an additional 277,675 shares during the period. Paradigm Capital Management Inc. NY boosted its stake in shares of TTM Technologies by 1.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,636,479 shares of the company’s stock valued at $27,382,000 after buying an additional 56,300 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of TTM Technologies by 1.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,724,573 shares of the company’s stock valued at $19,746,000 after buying an additional 26,738 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of TTM Technologies by 21.1% in the third quarter. Bank of New York Mellon Corp now owns 1,720,373 shares of the company’s stock valued at $19,699,000 after buying an additional 299,462 shares during the period. 73.47% of the stock is currently owned by institutional investors.

TTM Technologies Company Profile

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