TTM Technologies (NASDAQ:TTMI) Upgraded at Zacks Investment Research

TTM Technologies (NASDAQ:TTMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. “

Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of TTM Technologies from a “b-” rating to a “c+” rating in a research note on Friday, May 24th. Needham & Company LLC initiated coverage on shares of TTM Technologies in a research note on Tuesday, May 7th. They set a “hold” rating for the company. Stifel Nicolaus raised their target price on shares of TTM Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday. ValuEngine raised shares of TTM Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Finally, BidaskClub raised shares of TTM Technologies from a “sell” rating to a “hold” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.00.

TTMI traded down $0.03 during trading on Friday, hitting $11.63. The stock had a trading volume of 105,187 shares, compared to its average volume of 991,088. The stock has a market cap of $1.23 billion, a P/E ratio of 8.45 and a beta of 2.53. TTM Technologies has a twelve month low of $8.49 and a twelve month high of $19.91. 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 50 day simple moving average is $9.79.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The company had revenue of $633.04 million during the quarter, compared to the consensus estimate of $622.68 million. TTM Technologies had a net margin of 5.71% and a return on equity of 13.44%. TTM Technologies’s revenue was down 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. On average, sell-side analysts anticipate that TTM Technologies will post 0.27 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank grew its stake in shares of TTM Technologies by 8.5% in the 2nd quarter. Swiss National Bank now owns 184,500 shares of the technology company’s stock valued at $1,882,000 after buying an additional 14,500 shares in the last quarter. Comerica Bank boosted its position in TTM Technologies by 3.4% during the second quarter. Comerica Bank now owns 363,781 shares of the technology company’s stock worth $3,489,000 after purchasing an additional 12,100 shares during the period. Tocqueville Asset Management L.P. boosted its position in TTM Technologies by 2.9% during the second quarter. Tocqueville Asset Management L.P. now owns 1,316,800 shares of the technology company’s stock worth $13,431,000 after purchasing an additional 37,450 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in TTM Technologies by 5.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 44,670 shares of the technology company’s stock worth $455,000 after purchasing an additional 2,390 shares during the period. Finally, First Trust Advisors LP boosted its position in TTM Technologies by 422.1% during the second quarter. First Trust Advisors LP now owns 206,084 shares of the technology company’s stock worth $2,102,000 after purchasing an additional 166,615 shares during the period.

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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