TTM Technologies (NASDAQ:TTMI) Updates Q2 Earnings Guidance

TTM Technologies (NASDAQ:TTMI) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.32-0.38 for the period, compared to the consensus earnings per share estimate of $0.35. The company issued revenue guidance of $560-600 million, compared to the consensus revenue estimate of $576.43 million. TTM Technologies also updated its Q2 2024 guidance to 0.320-0.380 EPS.

TTM Technologies Price Performance

Shares of TTMI opened at $17.31 on Friday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -865.50 and a beta of 1.37. The stock has a 50 day moving average of $14.81 and a 200-day moving average of $14.61. The company has a current ratio of 2.09, a quick ratio of 1.73 and a debt-to-equity ratio of 0.60. TTM Technologies has a 52 week low of $11.14 and a 52 week high of $17.32.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. TTM Technologies had a positive return on equity of 8.63% and a negative net margin of 0.11%. The business had revenue of $569.04 million during the quarter, compared to analyst estimates of $572.03 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, analysts forecast that TTM Technologies will post 1.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TTMI. Needham & Company LLC reiterated a buy rating and set a $19.00 price target on shares of TTM Technologies in a research report on Thursday. Stifel Nicolaus raised TTM Technologies from a hold rating to a buy rating and boosted their target price for the stock from $15.00 to $19.00 in a research report on Thursday. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $18.17.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 3,500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $16.48, for a total value of $57,680.00. Following the transaction, the insider now owns 52,264 shares in the company, valued at $861,310.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

TTM Technologies Company Profile

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.