A number of other analysts have also commented on TTMI. Zacks Investment Research raised shares of TTM Technologies from a hold rating to a strong-buy rating and set a $11.00 price objective on the stock in a research report on Saturday, July 30th. Needham & Company LLC boosted 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, Stifel Nicolaus cut their price objective on shares of TTM Technologies from $11.00 to $9.50 and set a buy rating on the stock in a research report on Thursday, July 28th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. TTM Technologies currently has an average rating of Buy and an average target price of $11.10.
Shares of TTM Technologies (NASDAQ:TTMI) traded down 0.95% during mid-day trading on Wednesday, reaching $11.48. 622,300 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $10.73 and its 200-day moving average is $8.27. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 64.13 and a beta of 1.62. TTM Technologies has a 52-week low of $4.67 and a 52-week high of $11.75.
TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.10. The business had revenue of $601.80 million for the quarter, compared to analyst estimates of $601.48 million. TTM Technologies had a net margin of 0.74% and a return on equity of 7.86%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts expect that TTM Technologies will post $1.08 EPS for the current year.
In other TTM Technologies news, SVP Daniel J. Weber sold 10,222 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $10.43, for a total value of $106,615.46. Following the transaction, the senior vice president now directly owns 60,530 shares in the company, valued at $631,327.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenton K. Alder sold 36,823 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $9.94, for a total transaction of $366,020.62. Following the completion of the transaction, the director now owns 35,267 shares in the company, valued at $350,553.98. The disclosure for this sale can be found here. Corporate insiders own 28.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in TTMI. BNP Paribas Arbitrage SA increased its position in TTM Technologies by 19.4% in the second quarter. BNP Paribas Arbitrage SA now owns 186,138 shares of the company’s stock valued at $1,402,000 after buying an additional 30,300 shares in the last quarter. Arizona State Retirement System increased its position in TTM Technologies by 4.7% in the first quarter. Arizona State Retirement System now owns 33,125 shares of the company’s stock valued at $220,000 after buying an additional 1,500 shares during the period. Panagora Asset Management Inc. increased its position in TTM Technologies by 31.5% in the first quarter. Panagora Asset Management Inc. now owns 543,368 shares of the company’s stock valued at $3,613,000 after buying an additional 130,128 shares during the period. Springbok Capital Management LLC increased its position in TTM Technologies by 4,900.3% in the first quarter. Springbok Capital Management LLC now owns 19,851 shares of the company’s stock valued at $132,000 after buying an additional 19,454 shares during the period. Finally, Renaissance Technologies LLC increased its position in TTM Technologies by 28.8% in the first quarter. Renaissance Technologies LLC now owns 619,963 shares of the company’s stock valued at $4,123,000 after buying an additional 138,733 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). The Company operates approximately 30 specialized facilities in the United States, the People’s Republic of China (China), Canada and Mexico.
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