Wall Street brokerages forecast that TTM Technologies, Inc. (NASDAQ:TTMI) will post $751.27 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for TTM Technologies’ earnings, with estimates ranging from $749.88 million to $755.00 million. TTM Technologies reported sales of $666.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.7%. The company is expected to issue its next earnings report after the market closes on Tuesday, October 30th.
On average, analysts expect that TTM Technologies will report full-year sales of $2.96 billion for the current financial year, with estimates ranging from $2.93 billion to $2.98 billion. For the next year, analysts expect that the firm will report sales of $3.12 billion, with estimates ranging from $3.08 billion to $3.15 billion. Zacks’ sales averages are an average based on a survey of research firms that follow TTM Technologies.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.11. The business had revenue of $716.89 million for the quarter, compared to analysts’ expectations of $728.97 million. TTM Technologies had a net margin of 5.91% and a return on equity of 15.85%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share.
Several analysts recently weighed in on the stock. BidaskClub cut shares of TTM Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. ValuEngine upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research cut shares of TTM Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Needham & Company LLC lifted their price target on shares of TTM Technologies from $20.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, August 2nd. Finally, Macquarie assumed coverage on shares of TTM Technologies in a report on Monday, October 8th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. TTM Technologies currently has a consensus rating of “Hold” and a consensus target price of $20.40.
NASDAQ:TTMI opened at $14.18 on Friday. The firm has a market capitalization of $1.65 billion, a P/E ratio of 13.90 and a beta of 1.92. TTM Technologies has a twelve month low of $13.72 and a twelve month high of $19.91. The company has a current ratio of 1.74, a quick ratio of 1.57 and a debt-to-equity ratio of 1.36.
In other TTM Technologies news, insider William Kent Hardwick sold 3,115 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $18.91, for a total transaction of $58,904.65. Following the completion of the transaction, the insider now owns 44,997 shares of the company’s stock, valued at $850,893.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian W. Barber sold 1,315 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $19.24, for a total value of $25,300.60. Following the transaction, the chief operating officer now directly owns 76,280 shares of the company’s stock, valued at approximately $1,467,627.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,775 shares of company stock worth $525,426. 10.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Sapphire Star Partners LP lifted its position in TTM Technologies by 6.6% during the second quarter. Sapphire Star Partners LP now owns 44,043 shares of the technology company’s stock valued at $776,000 after buying an additional 2,744 shares during the period. Yorktown Management & Research Co Inc lifted its position in TTM Technologies by 12.5% during the second quarter. Yorktown Management & Research Co Inc now owns 29,428 shares of the technology company’s stock valued at $519,000 after buying an additional 3,278 shares during the period. Profund Advisors LLC lifted its position in TTM Technologies by 32.3% during the first quarter. Profund Advisors LLC now owns 18,457 shares of the technology company’s stock valued at $282,000 after buying an additional 4,501 shares during the period. Legal & General Group Plc lifted its position in TTM Technologies by 2.6% during the first quarter. Legal & General Group Plc now owns 187,168 shares of the technology company’s stock valued at $2,851,000 after buying an additional 4,657 shares during the period. Finally, California Public Employees Retirement System lifted its position in TTM Technologies by 3.1% during the first quarter. California Public Employees Retirement System now owns 189,038 shares of the technology company’s stock valued at $2,890,000 after buying an additional 5,685 shares during the period.
About TTM Technologies
TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments, PCB and E-M Solutions. The company offers a range of PCBs and electro-mechanical solutions, including conventional PCBs, high density interconnect PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, and IC substrates.
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