TTM Technologies (NASDAQ:TTMI) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

TTM Technologies (NASDAQ:TTMI) released its quarterly earnings results on Wednesday. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05, Briefing.com reports. The business had revenue of $605.10 million during the quarter, compared to analyst estimates of $582.70 million. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. TTM Technologies updated its Q3 guidance to $0.37-0.43 EPS and its Q3 2024 guidance to 0.370-0.430 EPS.

TTM Technologies Price Performance

NASDAQ TTMI traded down $1.23 on Friday, reaching $18.31. The company’s stock had a trading volume of 1,147,415 shares, compared to its average volume of 1,251,692. TTM Technologies has a twelve month low of $11.14 and a twelve month high of $22.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.77 and a current ratio of 2.04. The stock has a market cap of $1.86 billion, a PE ratio of -915.04 and a beta of 1.25. The firm’s 50 day moving average is $19.72 and its two-hundred day moving average is $16.88.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, insider Anthony Joseph Sandeen sold 23,683 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $17.53, for a total value of $415,162.99. Following the completion of the sale, the insider now directly owns 28,056 shares of the company’s stock, valued at approximately $491,821.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other TTM Technologies news, insider Anthony Joseph Sandeen sold 23,683 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $17.53, for a total transaction of $415,162.99. Following the completion of the sale, the insider now directly owns 28,056 shares of the company’s stock, valued at $491,821.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Tony Sanchez sold 6,940 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $19.00, for a total transaction of $131,860.00. Following the sale, the vice president now directly owns 21,502 shares of the company’s stock, valued at $408,538. The disclosure for this sale can be found here. In the last three months, insiders sold 124,721 shares of company stock valued at $2,339,678. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TTMI. Truist Financial reiterated a “buy” rating and issued a $24.00 target price (up previously from $22.00) on shares of TTM Technologies in a research report on Thursday. Needham & Company LLC increased their target price on shares of TTM Technologies from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley increased their target price on shares of TTM Technologies from $25.50 to $27.25 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus increased their target price on shares of TTM Technologies from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $24.31.

About TTM Technologies

TTM Technologies, Inc, together with its subsidiaries, manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments, PCB and RF&S Components. It offers range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, IC substrates, passive RF components, advanced ceramic RF components, hi-reliability multi-chip modules, beamforming and switching networks, PCB products, RF components, and backplane/custom assembly solutions, including conventional PCBs.