BidaskClub Downgrades TTM Technologies, Inc. (TTMI) to Sell
TTM Technologies, Inc. (NASDAQ:TTMI) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.
A number of other research firms have also recently commented on TTMI. Needham & Company LLC raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research report on Monday. Stifel Nicolaus cut shares of TTM Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $18.50 to $19.00 in a report on Friday, July 28th. Zacks Investment Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a report on Tuesday, May 9th. Finally, TheStreet raised shares of TTM Technologies from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. TTM Technologies currently has a consensus rating of “Hold” and a consensus price target of $19.88.
Shares of TTM Technologies (NASDAQ TTMI) traded down 2.106% during midday trading on Tuesday, hitting $13.715. 1,274,361 shares of the company’s stock were exchanged. TTM Technologies has a 1-year low of $10.04 and a 1-year high of $19.54. The stock’s 50 day moving average is $18.19 and its 200-day moving average is $16.65. The stock has a market cap of $1.40 billion, a PE ratio of 19.075 and a beta of 1.46.
TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.04. TTM Technologies had a return on equity of 17.05% and a net margin of 2.97%. The firm had revenue of $627.20 million for the quarter, compared to analyst estimates of $625.43 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that TTM Technologies will post $1.53 earnings per share for the current fiscal year.
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In related news, Director Kenton K. Alder sold 3,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $18.09, for a total value of $54,270.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Daniel J. Weber sold 3,605 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total transaction of $64,601.60. Following the completion of the sale, the senior vice president now directly owns 48,270 shares in the company, valued at $864,998.40. The disclosure for this sale can be found here. Insiders sold 14,074 shares of company stock worth $249,890 over the last ninety days. 28.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in TTM Technologies by 17.4% in the first quarter. Vanguard Group Inc. now owns 11,833,440 shares of the technology company’s stock valued at $190,873,000 after buying an additional 1,757,393 shares in the last quarter. Acadian Asset Management LLC raised its stake in TTM Technologies by 51.6% in the first quarter. Acadian Asset Management LLC now owns 3,259,213 shares of the technology company’s stock valued at $52,571,000 after buying an additional 1,108,651 shares during the last quarter. FMR LLC raised its stake in TTM Technologies by 111.0% in the first quarter. FMR LLC now owns 2,823,070 shares of the technology company’s stock valued at $45,536,000 after buying an additional 1,484,825 shares during the last quarter. Ameriprise Financial Inc. raised its stake in TTM Technologies by 80.5% in the first quarter. Ameriprise Financial Inc. now owns 2,128,734 shares of the technology company’s stock valued at $34,338,000 after buying an additional 949,674 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in TTM Technologies by 2.0% in the first quarter. Macquarie Group Ltd. now owns 1,950,378 shares of the technology company’s stock valued at $31,460,000 after buying an additional 38,491 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.
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). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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