TTM Technologies, Inc. (TTMI) Expected to Announce Quarterly Sales of $652.46 Million
Brokerages forecast that TTM Technologies, Inc. (NASDAQ:TTMI) will report sales of $652.46 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for TTM Technologies’ earnings, with the highest sales estimate coming in at $655.00 million and the lowest estimate coming in at $649.92 million. TTM Technologies reported sales of $641.72 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The business is scheduled to report its next earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that TTM Technologies will report full year sales of $652.46 million for the current financial year, with estimates ranging from $2.61 billion to $2.63 billion. For the next year, analysts expect that the business will report sales of $2.73 billion per share, with estimates ranging from $2.71 billion to $2.75 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow TTM Technologies.
TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). The business had revenue of $627.20 million during the quarter, compared to the consensus estimate of $625.43 million. TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS.
A number of research firms have commented on TTMI. BidaskClub upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Stifel Nicolaus downgraded TTM Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $18.50 to $19.00 in a research report on Friday, July 28th. Zacks Investment Research downgraded TTM Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. ValuEngine downgraded TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Needham & Company LLC upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.50.
TTM Technologies (NASDAQ TTMI) opened at 15.69 on Tuesday. The firm has a 50-day moving average price of $15.32 and a 200 day moving average price of $16.09. The company has a market cap of $1.60 billion, a P/E ratio of 21.94 and a beta of 1.56. TTM Technologies has a 12 month low of $11.76 and a 12 month high of $19.54.
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In related news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $14.70, for a total transaction of $44,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 9,000 shares of company stock valued at $133,980 over the last ninety days. Insiders own 28.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new position in TTM Technologies during the 2nd quarter worth $306,000. Cipher Capital LP grew its stake in TTM Technologies by 82.5% during the 2nd quarter. Cipher Capital LP now owns 153,790 shares of the technology company’s stock worth $2,670,000 after purchasing an additional 69,510 shares in the last quarter. Brighton Jones LLC acquired a new position in TTM Technologies during the 2nd quarter worth $236,000. Principal Financial Group Inc. grew its stake in TTM Technologies by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 690,203 shares of the technology company’s stock worth $11,133,000 after purchasing an additional 20,061 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in TTM Technologies by 4.2% during the 2nd quarter. Federated Investors Inc. PA now owns 323,588 shares of the technology company’s stock worth $5,617,000 after purchasing an additional 13,143 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.
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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