TTM Technologies (NASDAQ:TTMI) Upgraded to Strong-Buy at StockNews.com – MarketBeat
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TTM Technologies (NASDAQ:TTMI – Get Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.
Separately, Needham & Company LLC lowered their price target on TTM Technologies from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 3rd.
TTM Technologies Price Performance
Shares of TTMI stock traded down $0.20 during trading hours on Monday, hitting $15.21. 285,263 shares of the company’s stock were exchanged, compared to its average volume of 763,807. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.55 billion, a P/E ratio of 16.18 and a beta of 1.47. The firm has a 50 day moving average of $14.26 and a two-hundred day moving average of $14.18. TTM Technologies has a fifty-two week low of $9.76 and a fifty-two week high of $17.49.
TTM Technologies (NASDAQ:TTMI – Get Rating) last issued its earnings results on Wednesday, November 2nd. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.16. The company had revenue of $671.10 million during the quarter, compared to analysts’ expectations of $675.51 million. TTM Technologies had a return on equity of 10.72% and a net margin of 3.92%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. Sell-side analysts forecast that TTM Technologies will post 1.57 EPS for the current year.
Hedge Funds Weigh In On TTM Technologies
A number of hedge funds and other institutional investors have recently bought and sold shares of TTMI. Vanguard Group Inc. raised its position in TTM Technologies by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 11,435,839 shares of the technology company’s stock valued at $169,479,000 after purchasing an additional 208,288 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TTM Technologies by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,498,091 shares of the technology company’s stock valued at $111,122,000 after purchasing an additional 162,694 shares in the last quarter. Thrivent Financial for Lutherans raised its position in TTM Technologies by 7.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,427,357 shares of the technology company’s stock valued at $84,712,000 after purchasing an additional 435,771 shares in the last quarter. Macquarie Group Ltd. raised its position in TTM Technologies by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 5,925,674 shares of the technology company’s stock valued at $74,071,000 after purchasing an additional 37,463 shares in the last quarter. Finally, State Street Corp raised its position in TTM Technologies by 1.1% in the 3rd quarter. State Street Corp now owns 4,095,940 shares of the technology company’s stock valued at $53,984,000 after purchasing an additional 46,541 shares in the last quarter. 95.83% of the stock is currently owned by hedge funds and other institutional investors.
TTM Technologies Company Profile
(Get Rating)
TTM Technologies, Inc, together with its subsidiaries, engages in the manufacture and sale of printed circuit boards (PCBs) worldwide. The company operates in two segments, PCB and RF&S Components. It offers PCB products, radio frequency (RF) components, conventional PCBs, RF and microwave circuits, high density interconnect PCBs, substrate-like PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, IC substrates, passive RF components, advanced ceramic RF components, multi-chip modules, and beamforming and switching networks.
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