Zacks Investment Research Upgrades TTM Technologies (NASDAQ:TTMI) to “Hold”
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 topic of several other research reports. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. BidaskClub upgraded Westport Fuel Systems from a hold rating to a buy rating in a research report on Friday, July 12th. Needham & Company LLC reiterated a hold rating on shares of KLA-Tencor in a research report on Tuesday, May 7th. Finally, TheStreet downgraded WESCO International from a b- rating to a c+ rating in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $23.00.
TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, May 1st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $620.20 million for the quarter, compared to the consensus estimate of $628.46 million. TTM Technologies had a return on equity of 13.44% and a net margin of 5.71%. Equities analysts forecast that TTM Technologies will post 0.36 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in TTM Technologies by 3.2% during the fourth quarter. BlackRock Inc. now owns 13,802,498 shares of the technology company’s stock valued at $134,298,000 after purchasing an additional 432,824 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TTM Technologies by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,767,958 shares of the technology company’s stock valued at $85,312,000 after purchasing an additional 133,379 shares in the last quarter. Macquarie Group Ltd. raised its position in TTM Technologies by 15.8% during the fourth quarter. Macquarie Group Ltd. now owns 2,751,776 shares of the technology company’s stock valued at $26,775,000 after purchasing an additional 374,728 shares in the last quarter. Norges Bank purchased a new stake in TTM Technologies during the fourth quarter valued at about $18,327,000. Finally, Geode Capital Management LLC raised its position in TTM Technologies by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 1,385,979 shares of the technology company’s stock valued at $13,485,000 after purchasing an additional 83,372 shares in the last quarter.
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.
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