TTM Technologies (NASDAQ:TTMI) Releases Earnings Results, Beats Expectations By $0.05 EPS

TTM Technologies (NASDAQ:TTMI) announced its quarterly earnings data on Wednesday. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05, Briefing.com reports. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. The firm had revenue of $605.10 million for the quarter, compared to the consensus estimate of $582.70 million. During the same period in the prior year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. 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 Trading Down 6.6 %

Shares of NASDAQ TTMI opened at $19.38 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.77 and a debt-to-equity ratio of 0.60. TTM Technologies has a 1 year low of $11.14 and a 1 year high of $22.70. The company has a 50 day simple moving average of $19.71 and a 200 day simple moving average of $16.84.

Insider Activity

In related news, EVP Douglas L. Soder sold 9,714 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $20.00, for a total value of $194,280.00. Following the completion of the sale, the executive vice president now directly owns 204,493 shares in the company, valued at $4,089,860. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Anthony Joseph Sandeen sold 23,683 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $17.53, for a total transaction of $415,162.99. Following the sale, the insider now owns 28,056 shares in the company, valued at approximately $491,821.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Douglas L. Soder sold 9,714 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $20.00, for a total value of $194,280.00. Following the sale, the executive vice president now directly owns 204,493 shares of the company’s stock, valued at approximately $4,089,860. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,721 shares of company stock valued at $2,339,678. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TTMI. B. Riley raised their target price on TTM Technologies from $20.75 to $25.50 and gave the company a “buy” rating in a report on Thursday, July 18th. Stifel Nicolaus raised shares of TTM Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $15.00 to $19.00 in a report on Thursday, May 2nd. Finally, Needham & Company LLC lifted their price target on shares of TTM Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, June 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, TTM Technologies presently has an average rating of “Buy” and a consensus target price of $20.50.

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.