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

TTM Technologies (NASDAQ:TTMI) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. 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 Upgrades and Downgrades

Several brokerages recently issued reports on TTMI. Stifel Nicolaus upgraded shares of TTM Technologies from a hold rating to a buy rating and boosted their price target for the company from $15.00 to $19.00 in a research report on Thursday. Needham & Company LLC reiterated a buy rating and issued a $19.00 price objective on shares of TTM Technologies in a report on Thursday. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, TTM Technologies has a consensus rating of Buy and a consensus 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. TTM Technologies has a 12-month low of $11.14 and a 12-month high of $17.32. The company has a quick ratio of 1.73, a current ratio of 2.09 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $14.81 and its two-hundred day simple moving average is $14.61. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -865.50 and a beta of 1.37.

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

Insider Activity

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

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.