TTM Technologies (NASDAQ:TTMI) Downgraded by StockNews.com to Hold

TTM Technologies (NASDAQ:TTMI – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other research analysts also recently issued reports on TTMI. Zacks Investment Research downgraded TTM Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 16th. TheStreet raised TTM Technologies from a “c” rating to a “b-” rating in a research note on Thursday, March 24th. Finally, Truist Financial downgraded TTM Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the company from $16.00 to $14.00 in a research note on Thursday, February 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.33.

Shares of NASDAQ TTMI opened at $13.55 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.29 and a current ratio of 2.52. The firm has a market capitalization of $1.38 billion, a P/E ratio of 27.10 and a beta of 1.65. TTM Technologies has a 12 month low of $9.76 and a 12 month high of $15.89. The business’s 50-day simple moving average is $13.39.

TTM Technologies (NASDAQ:TTMI – Get Rating) last issued its earnings results on Wednesday, February 9th. The technology company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The firm had revenue of $598.14 million during the quarter, compared to the consensus estimate of $552.03 million. TTM Technologies had a return on equity of 6.01% and a net margin of 2.42%. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, equities research analysts forecast that TTM Technologies will post 1.12 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its position in TTM Technologies by 1.4% during the 1st quarter. Nordea Investment Management AB now owns 344,163 shares of the technology company’s stock valued at $5,104,000 after purchasing an additional 4,835 shares during the period. Norges Bank acquired a new stake in TTM Technologies during the 4th quarter valued at approximately $6,857,000. Walleye Capital LLC acquired a new stake in TTM Technologies during the 4th quarter valued at approximately $158,000. BlackRock Inc. boosted its holdings in shares of TTM Technologies by 0.3% during the 4th quarter. BlackRock Inc. now owns 16,638,479 shares of the technology company’s stock worth $247,912,000 after buying an additional 46,855 shares in the last quarter. Finally, Vident Investment Advisory LLC boosted its holdings in shares of TTM Technologies by 3.1% during the 4th quarter. Vident Investment Advisory LLC now owns 155,812 shares of the technology company’s stock worth $2,321,000 after buying an additional 4,725 shares in the last quarter. 99.86% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Company Profile (Get Rating)

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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