$625.86 Million in Sales Expected for TTM Technologies, Inc. (TTMI) This Quarter
Equities research analysts expect TTM Technologies, Inc. (NASDAQ:TTMI) to announce sales of $625.86 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for TTM Technologies’ earnings. The lowest sales estimate is $624.41 million and the highest is $627.30 million. TTM Technologies posted sales of $601.85 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The company is expected to issue its next earnings report on Wednesday, July 26th.
On average, analysts expect that TTM Technologies will report full-year sales of $625.86 million for the current fiscal year, with estimates ranging from $2.64 billion to $2.66 billion. For the next year, analysts anticipate that the firm will report sales of $2.76 billion per share, with estimates ranging from $2.73 billion to $2.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for TTM Technologies.
TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The business had revenue of $625.20 million for the quarter, compared to the consensus estimate of $615 million. TTM Technologies had a net margin of 2.92% and a return on equity of 18.17%. TTM Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS.
TTMI has been the subject of several recent research reports. TheStreet cut shares of TTM Technologies from a “b-” rating to a “c” rating in a report on Wednesday, March 22nd. J P Morgan Chase & Co upgraded shares of TTM Technologies from a “neutral” rating to an “overweight” rating and set a $21.00 target price for the company in a report on Tuesday, April 4th. Zacks Investment Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a report on Tuesday, May 9th. Finally, Needham & Company LLC increased their target price on shares of TTM Technologies from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, June 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $19.75.
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In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $18.09, for a total value of $54,270.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Daniel J. Weber sold 3,605 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total transaction of $64,601.60. Following the completion of the sale, the senior vice president now owns 48,270 shares of the company’s stock, valued at approximately $864,998.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,074 shares of company stock valued at $241,250. Corporate insiders own 28.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC boosted its stake in shares of TTM Technologies by 0.6% in the first quarter. IHT Wealth Management LLC now owns 18,766 shares of the technology company’s stock worth $305,000 after buying an additional 106 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock worth $150,000 after buying an additional 140 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of TTM Technologies by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 66,907 shares of the technology company’s stock worth $912,000 after buying an additional 223 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of TTM Technologies by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 39,390 shares of the technology company’s stock worth $636,000 after buying an additional 230 shares in the last quarter. Finally, Ngam Advisors L.P. boosted its stake in shares of TTM Technologies by 1.6% in the first quarter. Ngam Advisors L.P. now owns 23,986 shares of the technology company’s stock worth $387,000 after buying an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.
TTM Technologies (TTMI) traded down 1.32% on Thursday, hitting $17.19. 329,943 shares of the stock were exchanged. TTM Technologies has a one year low of $7.16 and a one year high of $18.85. The company has a 50 day moving average of $17.16 and a 200 day moving average of $15.95. The stock has a market capitalization of $1.75 billion, a P/E ratio of 24.14 and a beta of 1.47.
TTM Technologies Company Profile
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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