TTM Technologies, Inc. (TTMI) Issues Earnings Results
TTM Technologies, Inc. (NASDAQ:TTMI) issued its quarterly earnings data on Wednesday. The technology company reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32, Bloomberg Earnings reports. The business had revenue of $666.81 million for the quarter, compared to the consensus estimate of $651.67 million. TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. TTM Technologies updated its Q4 guidance to $0.49 to $0.55 EPS.
In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of TTM Technologies stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $15.67, for a total value of $47,010.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 9,000 shares of company stock worth $133,980 in the last quarter. 28.40% of the stock is owned by insiders.
A number of research analysts have issued reports on the stock. J P Morgan Chase & Co set a $22.00 price objective on shares of TTM Technologies and gave the company a “buy” rating in a research report on Wednesday, August 16th. Stifel Nicolaus reissued a “buy” rating and set a $17.50 price objective on shares of TTM Technologies in a research report on Wednesday. BidaskClub downgraded shares of TTM Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Needham & Company LLC raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a research report on Monday, August 7th. Finally, Zacks Investment Research downgraded shares of TTM Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $20.50.
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About TTM Technologies
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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