Zacks Investment Research Downgrades TTM Technologies (NASDAQ:TTMI) to Sell

TTM Technologies (NASDAQ:TTMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

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 analysts have also recently commented on the stock. Needham & Company LLC upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Thursday, July 2nd. BidaskClub upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 1st. Finally, ValuEngine cut shares of TTM Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. TTM Technologies currently has a consensus rating of “Hold” and an average price target of $15.13.

Shares of TTMI opened at $11.67 on Tuesday. TTM Technologies has a one year low of $8.06 and a one year high of $16.25. The company has a 50-day moving average of $11.58 and a two-hundred day moving average of $12.20. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 31.54 and a beta of 2.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.94 and a quick ratio of 1.80.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.06 by $0.12. TTM Technologies had a net margin of 1.69% and a return on equity of 3.29%. The company had revenue of $610.80 million during the quarter, compared to analysts’ expectations of $579.80 million. During the same period last year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that TTM Technologies will post -0.06 earnings per share for the current year.

In other TTM Technologies news, VP Tony Sanchez sold 2,839 shares of TTM Technologies stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $10.98, for a total value of $31,172.22. Following the completion of the sale, the vice president now directly owns 30,009 shares in the company, valued at $329,498.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jon Pereira sold 2,455 shares of TTM Technologies stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $10.98, for a total transaction of $26,955.90. Following the completion of the sale, the senior vice president now owns 20,822 shares of the company’s stock, valued at $228,625.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,401 shares of company stock valued at $136,163. 6.85% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TTMI. Great West Life Assurance Co. Can acquired a new stake in TTM Technologies in the fourth quarter valued at approximately $1,825,000. ProShare Advisors LLC raised its position in shares of TTM Technologies by 17.1% in the fourth quarter. ProShare Advisors LLC now owns 16,127 shares of the technology company’s stock valued at $243,000 after purchasing an additional 2,360 shares during the period. Trexquant Investment LP bought a new position in shares of TTM Technologies in the fourth quarter valued at approximately $212,000. Amalgamated Bank raised its position in shares of TTM Technologies by 9.3% in the fourth quarter. Amalgamated Bank now owns 16,724 shares of the technology company’s stock valued at $252,000 after purchasing an additional 1,428 shares during the period. Finally, Oxford Asset Management LLP bought a new position in shares of TTM Technologies in the fourth quarter valued at approximately $970,000.

TTM Technologies Company Profile

TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments, PCB and E-M Solutions. The company offers a range of PCBs and electro-mechanical solutions, including conventional PCBs, high density interconnect PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, and IC substrates.

Featured Article: What does the Producer Price Index (PPI) tell investors?

Get a free copy of the Zacks research report on TTM Technologies (TTMI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for TTM Technologies (NASDAQ:TTMI)

Receive News & Ratings for TTM Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TTM Technologies and related companies with MarketBeat.com's FREE daily email newsletter.