TTM Technologies (TTMI) Cut to Strong Sell at Zacks Investment Research

TTM Technologies (NASDAQ:TTMI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors 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. “

TTMI has been the subject of several other research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $17.50 price target on shares of TTM Technologies in a research report on Wednesday, November 1st. BidaskClub lowered TTM Technologies from a “hold” rating to a “sell” rating in a research report on Monday, December 11th. Needham & Company LLC dropped their price target on TTM Technologies from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research report on Thursday, February 8th. SunTrust Banks started coverage on TTM Technologies in a research report on Thursday, December 14th. They issued a “buy” rating and a $20.00 price target for the company. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target (down previously from $22.00) on shares of TTM Technologies in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $19.50.

Shares of TTM Technologies (NASDAQ TTMI) traded up $0.01 during mid-day trading on Wednesday, hitting $15.32. The stock had a trading volume of 707,100 shares, compared to its average volume of 1,067,927. TTM Technologies has a 1 year low of $12.76 and a 1 year high of $19.54. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $1,560.00, a PE ratio of 15.02 and a beta of 1.70.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. TTM Technologies had a return on equity of 13.26% and a net margin of 4.67%. The firm had revenue of $739.30 million for the quarter, compared to analysts’ expectations of $724.65 million. During the same period in the previous year, the firm posted $0.58 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. research analysts forecast that TTM Technologies will post 1.04 EPS for the current fiscal year.

In related news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $16.10, for a total value of $48,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 28.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Simplex Trading LLC purchased a new position in shares of TTM Technologies during the third quarter valued at approximately $120,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of TTM Technologies by 169.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,048 shares of the technology company’s stock valued at $124,000 after buying an additional 5,056 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of TTM Technologies by 29.6% during the second quarter. Ameritas Investment Partners Inc. now owns 8,112 shares of the technology company’s stock valued at $141,000 after buying an additional 1,852 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of TTM Technologies by 55.2% during the third quarter. Envestnet Asset Management Inc. now owns 9,434 shares of the technology company’s stock valued at $145,000 after buying an additional 3,357 shares during the period. Finally, FDx Advisors Inc. purchased a new position in shares of TTM Technologies during the fourth quarter valued at approximately $160,000.

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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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