TTM Technologies (TTMI) Upgraded to Hold at Zacks Investment Research

TTM Technologies (NASDAQ:TTMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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 research analysts have also weighed in on the stock. BidaskClub lowered shares of TTM Technologies from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. SunTrust Banks started coverage on shares of TTM Technologies in a report on Thursday, December 14th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $17.50 target price on shares of TTM Technologies in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. TTM Technologies presently has a consensus rating of “Buy” and an average target price of $20.38.

TTM Technologies (NASDAQ:TTMI) traded down $0.17 during trading on Wednesday, hitting $15.39. 244,530 shares of the company’s stock were exchanged, compared to its average volume of 1,002,225. TTM Technologies has a 12-month low of $12.76 and a 12-month high of $19.54. The company has a market capitalization of $1,562.87, a price-to-earnings ratio of 22.75 and a beta of 1.70. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.65 and a quick ratio of 1.21.

In related news, Director Kenton K. Alder sold 3,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $16.10, for a total value of $48,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in TTM Technologies by 9.6% in the second quarter. Vanguard Group Inc. now owns 12,967,044 shares of the technology company’s stock worth $225,108,000 after purchasing an additional 1,133,604 shares during the period. LSV Asset Management grew its stake in shares of TTM Technologies by 12.9% in the 4th quarter. LSV Asset Management now owns 4,233,084 shares of the technology company’s stock valued at $66,332,000 after purchasing an additional 484,226 shares during the last quarter. FMR LLC grew its stake in shares of TTM Technologies by 20.1% in the 2nd quarter. FMR LLC now owns 3,389,523 shares of the technology company’s stock valued at $58,842,000 after purchasing an additional 566,453 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of TTM Technologies by 9.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,689,654 shares of the technology company’s stock valued at $41,339,000 after purchasing an additional 224,090 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY grew its stake in shares of TTM Technologies by 27.5% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 2,342,229 shares of the technology company’s stock valued at $36,000,000 after purchasing an additional 505,900 shares during the last quarter.

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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.

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