$652.46 Million in Sales Expected for TTM Technologies, Inc. (TTMI) This Quarter
Analysts expect TTM Technologies, Inc. (NASDAQ:TTMI) to report sales of $652.46 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for TTM Technologies’ earnings, with estimates ranging from $649.92 million to $655.00 million. TTM Technologies reported sales of $641.72 million in the same quarter last year, which indicates a positive year over year growth rate of 1.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that TTM Technologies will report full year sales of $652.46 million for the current fiscal year, with estimates ranging from $2.61 billion to $2.63 billion. For the next financial year, analysts anticipate that the business will post sales of $2.73 billion per share, with estimates ranging from $2.71 billion to $2.75 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for TTM Technologies.
TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The firm had revenue of $627.20 million during the quarter, compared to analysts’ expectations of $625.43 million. During the same quarter in the prior year, the firm posted $0.28 EPS. TTM Technologies’s quarterly revenue was up 4.2% compared to the same quarter last year.
Several brokerages have recently commented on TTMI. Zacks Investment Research upgraded TTM Technologies from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 5th. Needham & Company LLC upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $17.50 target price on shares of TTM Technologies in a research report on Thursday, September 28th. BidaskClub lowered TTM Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, ValuEngine lowered TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $20.50.
Shares of TTM Technologies (NASDAQ TTMI) traded up 0.39% during midday trading on Thursday, reaching $15.55. The company’s stock had a trading volume of 37,330 shares. TTM Technologies has a 1-year low of $10.85 and a 1-year high of $19.54. The firm has a market capitalization of $1.58 billion, a PE ratio of 21.75 and a beta of 1.56. The company’s 50-day moving average price is $14.80 and its 200 day moving average price is $16.13.
In other news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $14.29, for a total value of $42,870.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 9,000 shares of company stock valued at $142,260. Insiders own 28.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TTMI. Ameritas Investment Partners Inc. acquired a new position in TTM Technologies during the 1st quarter valued at approximately $101,000. Riverhead Capital Management LLC boosted its position in TTM Technologies by 71.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,860 shares of the technology company’s stock valued at $119,000 after purchasing an additional 2,860 shares during the period. Pacad Investment Ltd. acquired a new position in TTM Technologies during the 2nd quarter valued at approximately $133,000. Sei Investments Co. boosted its position in TTM Technologies by 197.1% during the 2nd quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock valued at $161,000 after purchasing an additional 6,127 shares during the period. Finally, Sigma Planning Corp acquired a new position in TTM Technologies during the 2nd quarter valued at approximately $176,000.
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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