TTM Technologies, Inc. (NASDAQ:TTMI) Issues Q3 Earnings Guidance
TTM Technologies, Inc. (NASDAQ:TTMI) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.29-$0.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.43. The company issued revenue guidance of $625-$675 million, compared to the consensus revenue estimate of $674.55 million.
A number of research firms recently issued reports on TTMI. Stifel Nicolaus reiterated a hold rating and issued a $17.50 target price on shares of TTM Technologies in a research note on Thursday. BidaskClub lowered shares of TTM Technologies from a strong-buy rating to a buy rating in a research note on Monday. Needham & Company LLC raised their target price on shares of TTM Technologies from $18.00 to $22.00 and gave the company a buy rating in a research note on Friday, June 9th. Zacks Investment Research lowered shares of TTM Technologies from a strong-buy rating to a hold rating in a research note on Wednesday, May 10th. Finally, TheStreet upgraded shares of TTM Technologies from a c rating to a b- rating in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $19.88.
TTM Technologies, Inc. (NASDAQ:TTMI) traded down 0.678% during mid-day trading on Friday, reaching $13.925. 5,005,385 shares of the company’s stock traded hands. The firm has a 50 day moving average of $18.19 and a 200 day moving average of $16.65. TTM Technologies, Inc. has a 1-year low of $10.04 and a 1-year high of $19.54. The firm has a market cap of $1.42 billion, a PE ratio of 19.367 and a beta of 1.46.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.04. TTM Technologies had a net margin of 2.92% and a return on equity of 18.17%. The company had revenue of $627.20 million during the quarter, compared to analyst estimates of $625.43 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. TTM Technologies’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts forecast that TTM Technologies, Inc. will post $1.53 EPS for the current year.
In other TTM Technologies news, SVP Daniel J. Weber sold 3,605 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total value of $64,601.60. Following the transaction, the senior vice president now directly owns 48,270 shares in the company, valued at $864,998.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenton K. Alder sold 3,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $16.25, for a total transaction of $48,750.00. Following the completion of the transaction, the director now owns 42,492 shares in the company, valued at $690,495. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,074 shares of company stock worth $249,890. Corporate insiders own 28.40% of the company’s stock.
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About TTM Technologies
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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