TTM Technologies (TTMI) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of TTM Technologies (NASDAQ:TTMI) from a hold rating to a sell rating in a report issued on Monday morning.

Several other equities analysts have also commented on TTMI. Stifel Nicolaus reaffirmed a buy rating and issued a $17.50 price target on shares of TTM Technologies in a research note on Thursday, September 28th. ValuEngine lowered TTM Technologies from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Zacks Investment Research raised TTM Technologies from a strong sell rating to a hold rating in a research note on Thursday, October 5th. Finally, J P Morgan Chase & Co set a $22.00 price target on TTM Technologies and gave the company a buy rating in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $20.50.

TTM Technologies (TTMI) opened at $15.32 on Monday. 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 $1,589.34, a price-to-earnings ratio of 12.39 and a beta of 1.55. The company has a quick ratio of 1.21, a current ratio of 1.65 and a debt-to-equity ratio of 1.02.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.32 EPS for the quarter, meeting the Thomson Reuters’ 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 quarter in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. sell-side 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 stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $16.07, for a total transaction of $48,210.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 9,000 shares of company stock worth $139,320. 28.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake 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 acquiring an additional 1,133,604 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 acquiring an additional 75,016 shares in the last quarter. FMR LLC lifted its stake 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 acquiring an additional 566,453 shares in the last quarter. Ameriprise Financial Inc. lifted its stake 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 acquiring an additional 224,090 shares in the last quarter. Finally, LSV Asset Management lifted its stake 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 acquiring an additional 2,084,668 shares in the last quarter.

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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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