TTM Technologies (NASDAQ:TTMI) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of TTM Technologies (NASDAQ:TTMIGet Rating) from a buy rating to a strong-buy rating in a research report sent to investors on Monday.

Separately, Needham & Company LLC dropped their price objective on TTM Technologies from $19.00 to $18.00 and set a buy rating on the stock in a research note on Thursday, November 3rd.

TTM Technologies Stock Down 1.3 %

Shares of TTM Technologies stock opened at $15.21 on Monday. The business’s fifty day moving average price is $14.26 and its two-hundred day moving average price is $14.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.94 and a quick ratio of 1.66. The company has a market capitalization of $1.55 billion, a P/E ratio of 16.18 and a beta of 1.47. TTM Technologies has a 1-year low of $9.76 and a 1-year high of $17.49.

TTM Technologies (NASDAQ:TTMIGet Rating) last announced its earnings results on Wednesday, November 2nd. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.16. The firm had revenue of $671.10 million for the quarter, compared to the consensus estimate of $675.51 million. TTM Technologies had a return on equity of 10.72% and a net margin of 3.92%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. As a group, research analysts forecast that TTM Technologies will post 1.57 EPS for the current year.

Institutional Trading of TTM Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TTMI. Thrivent Financial for Lutherans raised its stake in shares of TTM Technologies by 9.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,991,586 shares of the technology company’s stock worth $74,895,000 after buying an additional 533,142 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of TTM Technologies by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,414,305 shares of the technology company’s stock worth $150,441,000 after acquiring an additional 519,675 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of TTM Technologies by 1,686.3% in the 3rd quarter. Citadel Advisors LLC now owns 533,729 shares of the technology company’s stock worth $7,035,000 after acquiring an additional 503,850 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of TTM Technologies in the 3rd quarter worth $4,608,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of TTM Technologies by 1,608.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 339,634 shares of the technology company’s stock worth $4,245,000 after acquiring an additional 319,750 shares during the last quarter. Institutional investors own 95.83% of the company’s stock.

TTM Technologies Company Profile

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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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