TTM Technologies (TTMI) is Upgraded by JP Morgan to ” Overweight”

TTM Technologies (TTMI) was Upgraded by JP Morgan to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their Clients and Investors in a research report released on Apr 4, 2017.

Based on several research reports , TTM Technologies was Downgraded by JP Morgan to ” Neutral” on Feb 17, 2017. Company shares were Reiterated by Needham on Feb 9, 2017 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $14 .

On the company’s financial health, TTM Technologies reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $0.32. The company had revenue of $641.72 million for the quarter, compared to analysts expectations of $641.47 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.

Several company insiders have filed Insider transactions , on Mar 17, 2017, Kenton K Alder (director) sold 3,000 shares at $16.08 per share price. According to the SEC, on Mar 8, 2017, Daniel J Weber (SVP, General Counsel & Sec.) sold 8,306 shares at $15.70 per share price. On Mar 8, 2017, Douglas L Soder (officer ) sold 38,685 shares at $15.88 per share price, according to the Form-4 filing with the securities and exchange commission.

TTM Technologies opened for trading at $15.63 and hit $16.02 on the upside on Friday, eventually ending the session at $15.9, with a gain of 2.19% or 0.34 points. The heightened volatility saw the trading volume jump to 14,26,999 shares. Company has a market cap of $1,596 M.

TTM Technologies Inc. is a provider of printed circuit board (PCB) products and backplane assemblies which serve as the foundation of electronic products. The Company operates a total of 13 facilities in the United States and the People’s Republic of China (China). It manages operations based on two geographic operating segments: Asia Pacific which consists of five PCB fabrication plants and North America which consists of seven domestic PCB fabrication plants including a facility that provides follow-on value-added services primarily for one of the PCB fabrication plants and one backplane assembly plant in Shanghai China which is managed in conjunction with its United States operations. It serves a range of customer base in various markets including manufacturers of networking/communications infrastructure products smartphones and touchscreen tablets as well as the aerospace and defense high-end computing and industrial/medical industries.

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