BidaskClub Lowers TTM Technologies (TTMI) to Strong Sell

BidaskClub lowered shares of TTM Technologies (NASDAQ:TTMI) from a sell rating to a strong sell rating in a research note published on Thursday morning, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut TTM Technologies from a hold rating to a sell rating in a report on Wednesday, May 8th. Needham & Company LLC began coverage on TTM Technologies in a report on Tuesday, May 7th. They issued a hold rating for the company. Finally, ValuEngine cut TTM Technologies from a hold rating to a sell rating in a report on Saturday, May 4th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $21.00.

TTMI opened at $9.37 on Thursday. TTM Technologies has a 12-month low of $8.97 and a 12-month high of $19.91. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.92 and a quick ratio of 1.74. The stock has a market capitalization of $988.17 million, a PE ratio of 6.79 and a beta of 2.28.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. TTM Technologies had a return on equity of 13.44% and a net margin of 5.71%. The firm had revenue of $620.20 million during the quarter, compared to analysts’ expectations of $628.46 million. As a group, equities research analysts expect that TTM Technologies will post 0.41 EPS for the current year.

In related news, VP Tony Sanchez sold 2,323 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $12.03, for a total transaction of $27,945.69. Following the completion of the sale, the vice president now directly owns 14,276 shares in the company, valued at approximately $171,740.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon Pereira sold 5,657 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $12.01, for a total value of $67,940.57. Following the sale, the insider now owns 26,743 shares of the company’s stock, valued at $321,183.43. The disclosure for this sale can be found here. Insiders have sold a total of 16,922 shares of company stock valued at $203,324 over the last 90 days. 6.90% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its holdings in TTM Technologies by 339.1% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,121 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,638 shares during the period. First Mercantile Trust Co. bought a new position in TTM Technologies during the 1st quarter valued at approximately $26,000. Versant Capital Management Inc raised its position in TTM Technologies by 566.3% during the 1st quarter. Versant Capital Management Inc now owns 2,885 shares of the technology company’s stock valued at $33,000 after purchasing an additional 2,452 shares during the last quarter. Resources Investment Advisors Inc. bought a new position in TTM Technologies during the 1st quarter valued at approximately $34,000. Finally, Oregon Public Employees Retirement Fund bought a new position in TTM Technologies during the 4th quarter valued at approximately $35,000.

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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