TTM Technologies (NASDAQ:TTMI) Issues Q3 Earnings Guidance

TTM Technologies (NASDAQ:TTMI) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.37-0.43 for the period, compared to the consensus estimate of $0.40. The company issued revenue guidance of $580-620 million, compared to the consensus revenue estimate of $600.38 million. TTM Technologies also updated its Q3 2024 guidance to 0.370-0.430 EPS.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. B. Riley upped their price objective on shares of TTM Technologies from $25.50 to $27.25 and gave the stock a buy rating in a report on Thursday. Stifel Nicolaus increased their target price on shares of TTM Technologies from $19.00 to $24.00 and gave the stock a buy rating in a report on Thursday. Needham & Company LLC increased their target price on shares of TTM Technologies from $21.00 to $22.00 and gave the stock a buy rating in a report on Thursday. Finally, Truist Financial reiterated a buy rating and set a $24.00 target price (up from $22.00) on shares of TTM Technologies in a report on Thursday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and an average price target of $24.31.

TTM Technologies Stock Down 6.3 %

NASDAQ TTMI opened at $18.31 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.04 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $19.72 and its 200 day moving average price is $16.88. TTM Technologies has a 12 month low of $11.14 and a 12 month high of $22.70.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The firm had revenue of $605.10 million for the quarter, compared to the consensus estimate of $582.70 million. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.28 EPS. Sell-side analysts anticipate that TTM Technologies will post 1.29 earnings per share for the current year.

Insider Buying and Selling at TTM Technologies

In other news, VP Tony Sanchez sold 6,940 shares of TTM Technologies stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $19.00, for a total value of $131,860.00. Following the sale, the vice president now owns 21,502 shares of the company’s stock, valued at $408,538. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Tony Sanchez sold 6,940 shares of TTM Technologies stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $19.00, for a total value of $131,860.00. Following the sale, the vice president now owns 21,502 shares of the company’s stock, valued at $408,538. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeff Jankowsky sold 10,000 shares of TTM Technologies stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $20.04, for a total transaction of $200,400.00. Following the completion of the sale, the insider now directly owns 60,273 shares in the company, valued at approximately $1,207,870.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,721 shares of company stock worth $2,339,678. 1.30% of the stock is owned by company insiders.

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.