TTM Technologies Inc. (TTMI) Trading Down 1.6%
Shares of TTM Technologies Inc. (NASDAQ:TTMI) fell 1.6% during mid-day trading on Wednesday . The stock traded as low as $11.01 and last traded at $11.05, with a volume of 1,384,138 shares. The stock had previously closed at $11.23.
Several research firms have recently issued reports on TTMI. JPMorgan Chase & Co. reiterated a “buy” rating on shares of TTM Technologies in a research note on Sunday, June 12th. Zacks Investment Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research note on Saturday, July 30th. Stifel Nicolaus reduced their target price on shares of TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, Needham & Company LLC increased their price target on shares of TTM Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $10.70.
The firm’s 50-day moving average is $10.59 and its 200-day moving average is $8.10. The company has a market capitalization of $1.12 billion, a P/E ratio of 62.46 and a beta of 1.62.
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TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. TTM Technologies had a return on equity of 7.86% and a net margin of 0.74%. The business had revenue of $601.80 million for the quarter, compared to the consensus estimate of $601.48 million. During the same quarter in the prior year, the company earned $0.17 EPS. The business’s revenue was up 35.1% compared to the same quarter last year. Equities research analysts forecast that TTM Technologies Inc. will post $1.08 EPS for the current year.
In other news, SVP Daniel J. Weber sold 4,565 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $11.00, for a total transaction of $50,215.00. Following the transaction, the senior vice president now owns 48,571 shares of the company’s stock, valued at approximately $534,281. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tai Keung Chung sold 70,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $10.46, for a total value of $732,200.00. Following the transaction, the executive vice president now directly owns 100,758 shares in the company, valued at approximately $1,053,928.68. The disclosure for this sale can be found here. Insiders own 28.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in TTM Technologies by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,236,077 shares of the company’s stock worth $54,486,000 after buying an additional 593,037 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of TTM Technologies by 5.4% in the second quarter. Vanguard Group Inc. now owns 5,393,999 shares of the company’s stock worth $40,618,000 after buying an additional 277,675 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of TTM Technologies by 1.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,636,479 shares of the company’s stock worth $27,382,000 after buying an additional 56,300 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of TTM Technologies by 10.0% in the first quarter. Franklin Resources Inc. now owns 3,067,610 shares of the company’s stock worth $20,400,000 after buying an additional 278,070 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of TTM Technologies by 6.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,697,835 shares of the company’s stock worth $12,785,000 after buying an additional 104,988 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.
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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