TTM Technologies (TTMI) Cut to “Sell” at Zacks Investment Research
TTM Technologies (NASDAQ:TTMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
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. “
A number of other analysts have also issued reports on TTMI. Stifel Nicolaus reaffirmed a “buy” rating and set a $17.50 target price on shares of TTM Technologies in a research report on Thursday, September 28th. BidaskClub lowered TTM Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Finally, SunTrust Banks started coverage on TTM Technologies in a research report on Thursday, December 14th. They set a “buy” rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $20.38.
TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.32. TTM Technologies had a return on equity of 14.77% and a net margin of 2.78%. The business had revenue of $666.81 million for the quarter, compared to analyst estimates of $651.67 million. During the same period in the previous year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. research analysts predict that TTM Technologies will post 1.08 EPS for the current year.
In related news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $16.07, for a total value of $48,210.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 9,000 shares of company stock valued at $143,520. 28.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in TTMI. Sei Investments Co. increased its holdings in TTM Technologies by 197.1% in the second quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock valued at $161,000 after buying an additional 6,127 shares during the last quarter. Rhumbline Advisers increased its holdings in TTM Technologies by 17.4% in the second quarter. Rhumbline Advisers now owns 177,212 shares of the technology company’s stock valued at $3,076,000 after buying an additional 26,245 shares during the last quarter. Legal & General Group Plc increased its holdings in TTM Technologies by 18.8% in the second quarter. Legal & General Group Plc now owns 163,454 shares of the technology company’s stock valued at $2,838,000 after buying an additional 25,894 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in TTM Technologies by 58.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 105,919 shares of the technology company’s stock valued at $1,839,000 after buying an additional 39,012 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in TTM Technologies by 9.5% in the second quarter. Principal Financial Group Inc. now owns 755,442 shares of the technology company’s stock valued at $13,115,000 after buying an additional 65,239 shares during the last quarter.
ILLEGAL ACTIVITY WARNING: “TTM Technologies (TTMI) Cut to “Sell” at Zacks Investment Research” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2018/01/06/ttm-technologies-ttmi-cut-to-sell-at-zacks-investment-research.html.
TTM Technologies Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TTM Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TTM Technologies and related companies with MarketBeat.com's FREE daily email newsletter.