TTM Technologies (NASDAQ:TTMI) Shares Gap Up on Analyst Upgrade

TTM Technologies, Inc. (NASDAQ:TTMI) shares gapped up prior to trading on Friday after ValuEngine upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $11.47, but opened at $11.66. TTM Technologies shares last traded at $11.55, with a volume of 80,505 shares changing hands.

A number of other equities research analysts have also recently weighed in on TTMI. Stifel Nicolaus increased their price target on TTM Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday. TheStreet cut TTM Technologies from a “b-” rating to a “c+” rating in a research note on Friday, May 24th. Needham & Company LLC started coverage on TTM Technologies in a research note on Tuesday, May 7th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded TTM Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, BidaskClub upgraded TTM Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.00.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Mercantile Trust Co. acquired a new position in TTM Technologies in the 1st quarter valued at $26,000. Versant Capital Management Inc grew its holdings in TTM Technologies by 566.3% in the 1st quarter. Versant Capital Management Inc now owns 2,885 shares of the technology company’s stock valued at $33,000 after buying an additional 2,452 shares in the last quarter. Resources Investment Advisors Inc. acquired a new position in TTM Technologies in the 1st quarter valued at $34,000. Mizuho Securities Co. Ltd. acquired a new position in TTM Technologies in the 1st quarter valued at $70,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in TTM Technologies by 15.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,606 shares of the technology company’s stock valued at $136,000 after buying an additional 1,515 shares in the last quarter.

The company has a quick ratio of 1.74, a current ratio of 1.92 and a debt-to-equity ratio of 1.21. The business’s fifty day simple moving average is $9.79. The stock has a market capitalization of $1.23 billion, a PE ratio of 8.35 and a beta of 2.53.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. TTM Technologies had a return on equity of 13.44% and a net margin of 5.71%. The firm had revenue of $633.04 million for the quarter, compared to analyst estimates of $622.68 million. During the same period in the prior year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that TTM Technologies, Inc. will post 0.27 earnings per share for the current year.

TTM Technologies Company Profile (NASDAQ:TTMI)

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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