TTM Technologies (NASDAQ:TTMI) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a buy rating in a report published on Thursday morning, ValuEngine reports.

TTMI has been the subject of several other research reports. BidaskClub upgraded shares of TTM Technologies from a sell rating to a hold rating in a research note on Wednesday. Zacks Investment Research upgraded shares of TTM Technologies from a sell rating to a hold rating in a research note on Wednesday, July 24th. TheStreet lowered shares of TTM Technologies from a b- rating to a c+ rating in a research note on Friday, May 24th. Needham & Company LLC began coverage on shares of TTM Technologies in a research note on Tuesday, May 7th. They set a hold rating for the company. Finally, Stifel Nicolaus boosted their price objective on shares of TTM Technologies from $12.00 to $13.00 and gave the stock a buy rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $13.00.

Shares of NASDAQ:TTMI remained flat at $$11.66 during trading hours on Thursday. 1,936,058 shares of the stock traded hands, compared to its average volume of 1,317,682. TTM Technologies has a twelve month low of $8.49 and a twelve month high of $19.53. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 1.20. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 8.45 and a beta of 2.52. The firm’s 50 day moving average is $9.83.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. TTM Technologies had a net margin of 2.93% and a return on equity of 6.56%. The business had revenue of $633.04 million during the quarter, compared to analyst estimates of $622.68 million. During the same quarter in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that TTM Technologies will post 0.31 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in TTM Technologies during the 4th quarter worth approximately $18,327,000. Millennium Management LLC boosted its holdings in TTM Technologies by 662.6% during the fourth quarter. Millennium Management LLC now owns 665,981 shares of the technology company’s stock worth $6,480,000 after buying an additional 578,650 shares in the last quarter. Kennedy Capital Management Inc. boosted its holdings in TTM Technologies by 17.9% during the first quarter. Kennedy Capital Management Inc. now owns 1,321,146 shares of the technology company’s stock worth $15,497,000 after buying an additional 200,816 shares in the last quarter. First Trust Advisors LP boosted its holdings 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 buying an additional 166,615 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in TTM Technologies by 26.0% during the first quarter. State of Wisconsin Investment Board now owns 728,000 shares of the technology company’s stock worth $8,539,000 after buying an additional 150,000 shares in the last quarter.

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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