TTM Technologies (TTMI) Releases Earnings Results

TTM Technologies (NASDAQ:TTMI) posted its quarterly earnings results on Tuesday. The technology company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.05, MarketWatch Earnings reports. TTM Technologies had a net margin of 5.91% and a return on equity of 15.85%. The business had revenue of $755.84 million during the quarter, compared to analyst estimates of $750.89 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. TTM Technologies updated its Q4 guidance to $0.44-0.50 EPS.

TTM Technologies stock traded down $1.86 during mid-day trading on Wednesday, reaching $11.67. 213,073 shares of the company’s stock traded hands, compared to its average volume of 1,039,207. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 11.35 and a beta of 1.92. The company has a quick ratio of 1.57, a current ratio of 1.74 and a debt-to-equity ratio of 1.36. TTM Technologies has a 12-month low of $12.99 and a 12-month high of $19.91.

Several equities analysts have recently commented on TTMI shares. ValuEngine downgraded shares of TTM Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 8th. BidaskClub downgraded shares of TTM Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Macquarie started coverage on shares of TTM Technologies in a report on Monday, October 8th. They issued an “outperform” rating on the stock. Zacks Investment Research downgraded shares of TTM Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Needham & Company LLC boosted their target price on shares of TTM Technologies from $20.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.40.

In other news, insider William Kent Hardwick sold 3,115 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $18.91, for a total value of $58,904.65. Following the sale, 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 SEC, which is available at this hyperlink. Also, EVP Tai Keung Chung sold 23,345 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $18.90, for a total transaction of $441,220.50. Following the completion of the sale, the executive vice president now directly owns 50,357 shares in the company, valued at approximately $951,747.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,775 shares of company stock worth $525,426. 10.10% of the stock is owned by insiders.

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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Earnings History for TTM Technologies (NASDAQ:TTMI)

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