TTM Technologies, Inc. (TTMI) Given a $22.00 Price Target at J P Morgan Chase & Co
TTM Technologies, Inc. (NASDAQ:TTMI) has been given a $22.00 target price by equities researchers at J P Morgan Chase & Co in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the technology company’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 64.18% from the stock’s current price.
TTMI has been the topic of a number of other research reports. BidaskClub upgraded shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. TheStreet upgraded shares of TTM Technologies from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. Zacks Investment Research lowered shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Needham & Company LLC lifted their price objective on shares of TTM Technologies from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $17.50 price objective on shares of TTM Technologies in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $20.13.
Shares of TTM Technologies (NASDAQ:TTMI) opened at 13.40 on Wednesday. TTM Technologies has a 1-year low of $10.04 and a 1-year high of $19.54. The stock has a market capitalization of $1.36 billion, a P/E ratio of 18.74 and a beta of 1.46. The stock has a 50 day moving average of $16.82 and a 200-day moving average of $16.54.
TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.04. TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The business had revenue of $627.20 million during the quarter, compared to analysts’ expectations of $625.43 million. During the same quarter in the previous year, the business posted $0.28 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that TTM Technologies will post $1.53 earnings per share for the current fiscal year.
In other news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $18.43, for a total transaction of $55,290.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Daniel J. Weber sold 3,605 shares of TTM Technologies stock in a transaction that occurred 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 sale, the senior vice president now owns 48,270 shares in the company, valued at approximately $864,998.40. The disclosure for this sale can be found here. Insiders have sold 11,074 shares of company stock worth $201,140 in the last quarter. Insiders own 28.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of TTMI. Ameritas Investment Partners Inc. bought a new stake in TTM Technologies during the first quarter worth $101,000. Riverhead Capital Management LLC increased its stake in TTM Technologies by 71.5% in the second quarter. Riverhead Capital Management LLC now owns 6,860 shares of the technology company’s stock worth $119,000 after buying an additional 2,860 shares during the last quarter. Pacad Investment Ltd. bought a new stake in TTM Technologies during the second quarter worth $133,000. State of Alaska Department of Revenue increased its stake in TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock worth $150,000 after buying an additional 140 shares during the last quarter. Finally, Sei Investments Co. increased its stake in TTM Technologies by 197.1% in the second quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock worth $161,000 after buying an additional 6,127 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.
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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