TTM Technologies (TTMI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a sell rating in a report issued on Saturday morning.

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. “

Several other research firms also recently issued reports on TTMI. BidaskClub downgraded TTM Technologies from a buy rating to a hold rating in a report on Tuesday, December 5th. Stifel Nicolaus reiterated a buy rating and issued a $17.50 price objective on shares of TTM Technologies in a report on Wednesday, November 1st. Finally, SunTrust Banks began coverage on TTM Technologies in a report on Thursday, December 14th. They issued a buy rating and a $20.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $20.38.

Shares of TTM Technologies (NASDAQ:TTMI) traded down $0.05 during trading on Friday, hitting $16.59. The stock had a trading volume of 643,200 shares, compared to its average volume of 831,333. TTM Technologies has a twelve month low of $12.76 and a twelve month high of $19.54. The firm has a market cap of $1,690.00, a price-to-earnings ratio of 27.65 and a beta of 1.55. The company has a current ratio of 1.65, a quick ratio of 1.21 and a debt-to-equity ratio of 1.02.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. The firm had revenue of $666.81 million for the quarter, compared to the consensus estimate of $651.67 million. TTM Technologies had a return on equity of 14.77% and a net margin of 2.78%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. research analysts expect that TTM Technologies will post 1.08 earnings per share for the current year.

In related news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $16.07, for a total value of $48,210.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 9,000 shares of company stock worth $143,520 in the last quarter. Company insiders own 28.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in TTM Technologies by 9.6% during the 2nd 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. Dimensional Fund Advisors LP increased its holdings in TTM Technologies by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,565,975 shares of the technology company’s stock worth $148,706,000 after purchasing an additional 75,016 shares during the period. FMR LLC increased its holdings in TTM Technologies by 20.1% during the 2nd quarter. FMR LLC now owns 3,389,523 shares of the technology company’s stock worth $58,842,000 after purchasing an additional 566,453 shares during the period. Ameriprise Financial Inc. increased its holdings in TTM Technologies by 9.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,689,654 shares of the technology company’s stock worth $41,339,000 after purchasing an additional 224,090 shares during the period. Finally, LSV Asset Management increased its holdings in TTM Technologies by 492.0% during the 2nd quarter. LSV Asset Management now owns 2,508,368 shares of the technology company’s stock worth $43,545,000 after purchasing an additional 2,084,668 shares during the period.

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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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