TTM Technologies (TTMI) Research Coverage Started at SunTrust Banks

SunTrust Banks assumed coverage on shares of TTM Technologies (NASDAQ:TTMI) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $20.00 target price on the technology company’s stock.

TTMI has been the topic of several other reports. Zacks Investment Research downgraded TTM Technologies from a hold rating to a strong sell rating in a research note on Thursday, October 26th. ValuEngine downgraded TTM Technologies from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Stifel Nicolaus upgraded TTM Technologies from a hold rating to a buy rating and set a $17.50 target price on the stock in a research note on Thursday, August 24th. They noted that the move was a valuation call. BidaskClub downgraded TTM Technologies from a buy rating to a hold rating in a research note on Tuesday, December 5th. Finally, J P Morgan Chase & Co set a $22.00 target price on TTM Technologies and gave the stock a buy rating in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. TTM Technologies has an average rating of Buy and a consensus target price of $20.38.

Shares of TTM Technologies (TTMI) traded up $0.56 during mid-day trading on Thursday, reaching $16.34. The company had a trading volume of 1,460,000 shares, compared to its average volume of 1,090,000. TTM Technologies has a 1 year low of $12.76 and a 1 year high of $19.54. The company has a current ratio of 1.65, a quick ratio of 1.21 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1,660.00, a P/E ratio of 12.97 and a beta of 1.55.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.32 earnings per share for the quarter, hitting 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 firm had revenue of $666.81 million for the quarter, compared to the consensus estimate of $651.67 million. During the same period in the previous year, the business earned $0.39 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. sell-side analysts predict that TTM Technologies will post 1.08 EPS for the current year.

In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Cipher Capital LP lifted its position in TTM Technologies by 82.5% during the 2nd quarter. Cipher Capital LP now owns 153,790 shares of the technology company’s stock worth $2,670,000 after acquiring an additional 69,510 shares during the period. Brighton Jones LLC acquired a new position in shares of TTM Technologies in the 2nd quarter valued at about $236,000. USA Financial Portformulas Corp lifted its holdings in shares of TTM Technologies by 247.3% in the 2nd quarter. USA Financial Portformulas Corp now owns 59,809 shares of the technology company’s stock valued at $1,038,000 after buying an additional 42,586 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of TTM Technologies by 4.2% in the 2nd quarter. Federated Investors Inc. PA now owns 323,588 shares of the technology company’s stock valued at $5,617,000 after buying an additional 13,143 shares during the period. Finally, IndexIQ Advisors LLC lifted its holdings in shares of TTM Technologies by 83.0% in the 3rd quarter. IndexIQ Advisors LLC now owns 53,736 shares of the technology company’s stock valued at $826,000 after buying an additional 24,375 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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