TTM Technologies (NASDAQ:TTMI) Updates Q3 Earnings Guidance

TTM Technologies (NASDAQ:TTMI) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.37-0.43 for the period, compared to the consensus earnings per share estimate of $0.40. The company issued revenue guidance of $580-620 million, compared to the consensus revenue estimate of $600.38 million.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TTMI. B. Riley increased their price objective on shares of TTM Technologies from $20.75 to $25.50 and gave the stock a buy rating in a research note on Thursday, July 18th. Stifel Nicolaus upgraded shares of TTM Technologies from a hold rating to a buy rating and raised their price target for the company from $15.00 to $19.00 in a research note on Thursday, May 2nd. Finally, Needham & Company LLC raised their price target on shares of TTM Technologies from $19.00 to $21.00 and gave the company a buy rating in a research note on Monday, June 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $20.50.

TTM Technologies Trading Down 3.5 %

TTMI opened at $20.74 on Wednesday. The company’s 50 day moving average is $19.69 and its 200-day moving average is $16.82. TTM Technologies has a 1-year low of $11.14 and a 1-year high of $22.70. The company has a current ratio of 2.09, a quick ratio of 1.77 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.11 billion, a P/E ratio of -1,036.48 and a beta of 1.25.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. The business had revenue of $605.10 million for the quarter, compared to the consensus estimate of $582.70 million. During the same period last year, the company earned $0.28 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that TTM Technologies will post 1.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Douglas L. Soder sold 9,714 shares of TTM Technologies stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $20.00, for a total transaction of $194,280.00. Following the sale, the executive vice president now directly owns 204,493 shares in the company, valued at approximately $4,089,860. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other TTM Technologies news, insider Anthony Joseph Sandeen sold 23,683 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 28,056 shares in the company, valued at approximately $491,821.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Douglas L. Soder sold 9,714 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $20.00, for a total transaction of $194,280.00. Following the transaction, the executive vice president now owns 204,493 shares of the company’s stock, valued at approximately $4,089,860. The disclosure for this sale can be found here. Insiders have sold a total of 124,721 shares of company stock worth $2,339,678 in the last ninety days. Company insiders own 1.30% of the company’s stock.

TTM Technologies Company Profile

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.