Trade Report: Today, TTM Technologies Inc. (TTMI) Stock Rating Upgrade by TheStreet

Today, TTM Technologies Inc. (TTMI) Stock Rating Upgrade by TheStreet

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

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Saturday, July 30th. Stifel Nicolaus cut their price objective on shares of TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Thursday, July 28th. Needham & Company LLC upped their price objective on shares of TTM Technologies from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of TTM Technologies in a report on Tuesday, August 9th. Five analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $12.38.

TTM Technologies (NASDAQ:TTMI) traded down 1.24% during trading on Wednesday, reaching $13.55. 941,852 shares of the company’s stock traded hands. The firm has a 50 day moving average of $12.69 and a 200 day moving average of $9.98. The firm has a market capitalization of $1.36 billion, a PE ratio of 29.78 and a beta of 1.44. TTM Technologies has a 1-year low of $4.67 and a 1-year high of $15.00.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.07. The company earned $641.72 million during the quarter, compared to the consensus estimate of $641.47 million. TTM Technologies had a net margin of 1.86% and a return on equity of 12.58%. TTM Technologies’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. Equities analysts forecast that TTM Technologies will post $1.27 EPS for the current year.

In other news, SVP Daniel J. Weber sold 4,565 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $11.00, for a total value of $50,215.00. Following the completion of the transaction, the senior vice president now owns 48,571 shares in the company, valued at approximately $534,281. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenton K. Alder sold 75,000 shares of the stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $12.00, for a total transaction of $900,000.00. Following the completion of the transaction, the director now owns 85,267 shares of the company’s stock, valued at approximately $1,023,204. The disclosure for this sale can be found here. 28.40% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. MSI Financial Services Inc bought a new position in shares of TTM Technologies during the third quarter worth about $103,000. Engineers Gate Manager LP bought a new position in shares of TTM Technologies during the second quarter worth about $128,000. Citadel Advisors LLC bought a new position in shares of TTM Technologies during the second quarter worth about $131,000. Springbok Capital Management LLC increased its position in shares of TTM Technologies by 4,900.3% in the first quarter. Springbok Capital Management LLC now owns 19,851 shares of the company’s stock worth $132,000 after buying an additional 19,454 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of TTM Technologies by 263.9% in the second quarter. BlackRock Inc. now owns 17,945 shares of the company’s stock worth $136,000 after buying an additional 13,014 shares in the last quarter. Institutional investors and hedge funds own 73.47% of the company’s stock.

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