J P Morgan Chase & Co Reiterates “Overweight” Rating for TTM Technologies, Inc. (TTMI)

TTM Technologies, Inc. (NASDAQ:TTMI)‘s stock had its “overweight” rating reaffirmed by J P Morgan Chase & Co in a research note issued to investors on Wednesday. They presently have a $22.00 target price on the technology company’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 71.61% from the company’s current price.

A number of other brokerages have also commented on TTMI. BidaskClub raised TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Stifel Nicolaus lowered TTM Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $18.50 to $19.00 in a report on Friday, July 28th. Needham & Company LLC boosted their price objective on TTM Technologies from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, June 9th. TheStreet raised TTM Technologies from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Finally, Zacks Investment Research lowered TTM Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.13.

TTM Technologies (NASDAQ TTMI) opened at 12.81 on Wednesday. The firm has a 50-day moving average price of $16.95 and a 200-day moving average price of $16.57. The company has a market capitalization of $1.30 billion, a P/E ratio of 17.92 and a beta of 1.46. TTM Technologies has a 1-year low of $10.04 and a 1-year high of $19.54.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.04. The company had revenue of $627.20 million for the quarter, compared to the consensus estimate of $625.43 million. TTM Technologies had a return on equity of 17.05% and a net margin of 2.97%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, analysts forecast that TTM Technologies will post $1.53 EPS for the current fiscal year.

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In other news, SVP Daniel J. Weber sold 3,605 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $17.92, for a total value of $64,601.60. Following the completion of the transaction, the senior vice president now directly owns 48,270 shares of the company’s stock, valued at $864,998.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenton K. Alder sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $18.43, for a total value of $55,290.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,074 shares of company stock valued at $201,140. 28.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new position in TTM Technologies during the second quarter valued at about $321,000. Sterling Capital Management LLC raised its position in TTM Technologies by 9.2% in the second quarter. Sterling Capital Management LLC now owns 79,691 shares of the technology company’s stock valued at $1,383,000 after buying an additional 6,740 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in TTM Technologies by 29.6% in the second quarter. Ameritas Investment Partners Inc. now owns 8,112 shares of the technology company’s stock valued at $141,000 after buying an additional 1,852 shares in the last quarter. California State Teachers Retirement System raised its position in TTM Technologies by 14.6% in the second quarter. California State Teachers Retirement System now owns 163,694 shares of the technology company’s stock valued at $2,842,000 after buying an additional 20,895 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in TTM Technologies by 167.1% in the second quarter. Bank of Nova Scotia now owns 493,044 shares of the technology company’s stock valued at $8,560,000 after buying an additional 308,444 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

TTM Technologies Company Profile

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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