TTM Technologies (NASDAQ:TTMI) Issues Q2 2024 Earnings Guidance

TTM Technologies (NASDAQ:TTMI) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.320-0.380 for the period, compared to the consensus EPS estimate of 0.350. The company issued revenue guidance of $560.0 million-$600.0 million, compared to the consensus revenue estimate of $576.4 million. TTM Technologies also updated its Q2 guidance to $0.32-0.38 EPS.

Analyst Ratings Changes

Several brokerages have commented on TTMI. Needham & Company LLC restated a buy rating and issued a $19.00 price objective on shares of TTM Technologies in a report on Thursday. Stifel Nicolaus upgraded shares of TTM Technologies from a hold rating to a buy rating and raised their price objective for the stock from $15.00 to $19.00 in a report on Thursday. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, TTM Technologies currently has an average rating of Buy and an average target price of $18.17.

TTM Technologies Stock Up 4.0 %

Shares of TTMI stock traded up $0.66 during trading hours on Friday, hitting $17.31. 1,138,245 shares of the company’s stock traded hands, compared to its average volume of 516,757. The stock’s fifty day simple moving average is $14.81 and its two-hundred day simple moving average is $14.61. TTM Technologies has a 12-month low of $11.14 and a 12-month high of $17.32. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -865.50 and a beta of 1.37. The company has a quick ratio of 1.73, a current ratio of 2.09 and a debt-to-equity ratio of 0.60.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.05. The company had revenue of $569.04 million during the quarter, compared to the consensus estimate of $572.03 million. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. On average, analysts expect that TTM Technologies will post 1.28 EPS for the current year.

Insider Activity at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 3,500 shares of TTM Technologies stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $16.48, for a total value of $57,680.00. Following the completion of the sale, the insider now owns 52,264 shares of the company’s stock, valued at approximately $861,310.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.

About TTM Technologies

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.