TTM Technologies (NASDAQ:TTMI) Announces Quarterly Earnings Results

TTM Technologies (NASDAQ:TTMI) posted its earnings results on Wednesday. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.05, Briefing.com reports. The company had revenue of $605.10 million for 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%. TTM Technologies’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. 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 Stock Down 6.3 %

TTMI traded down $1.23 during trading hours on Friday, hitting $18.31. 1,147,415 shares of the company’s stock were exchanged, compared to its average volume of 1,251,692. The company has a current ratio of 2.04, a quick ratio of 1.77 and a debt-to-equity ratio of 0.60. TTM Technologies has a 12-month low of $11.14 and a 12-month high of $22.70. The firm has a market cap of $1.86 billion, a P/E ratio of -915.04 and a beta of 1.25. The firm has a 50 day moving average of $19.72 and a 200 day moving average of $16.88.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TTMI. B. Riley boosted their price target on shares of TTM Technologies from $25.50 to $27.25 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC boosted their price target on shares of TTM Technologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial reissued a “buy” rating and issued a $24.00 price target (up from $22.00) on shares of TTM Technologies in a research note on Thursday. Finally, Stifel Nicolaus boosted their price target on shares of TTM Technologies from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $24.31.

Insiders Place Their Bets

In other TTM Technologies news, EVP Douglas L. Soder sold 9,714 shares of the business’s 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 completion of the transaction, the executive vice president now owns 204,493 shares in the company, valued at approximately $4,089,860. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anthony Joseph Sandeen sold 23,683 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 28,056 shares in the company, valued at approximately $491,821.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Douglas L. Soder sold 9,714 shares of the company’s stock in a transaction 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 completion of 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 sold 124,721 shares of company stock worth $2,339,678 in the last 90 days. Corporate 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.