TTM Technologies (NASDAQ:TTMI) Issues Q3 2024 Earnings Guidance

TTM Technologies (NASDAQ:TTMI) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.370-0.430 for the period, compared to the consensus earnings per share estimate of 0.390. The company issued revenue guidance of $580.0 million-$620.0 million, compared to the consensus revenue estimate of $600.4 million. TTM Technologies also updated its Q3 guidance to $0.37-0.43 EPS.

TTM Technologies Stock Down 2.7 %

Shares of TTM Technologies stock traded down $0.57 on Wednesday, reaching $20.17. 557,796 shares of the company were exchanged, compared to its average volume of 744,168. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.09 and a quick ratio of 1.77. The stock’s 50 day moving average price is $19.69 and its 200-day moving average price is $16.82. The company has a market cap of $2.05 billion, a P/E ratio of -1,036.48 and a beta of 1.25. TTM Technologies has a 1-year low of $11.14 and a 1-year high of $22.70.

TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.05. The business had revenue of $605.10 million for the quarter, compared to analyst estimates of $582.70 million. TTM Technologies had a positive return on equity of 8.63% and a negative net margin of 0.11%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. As a group, equities analysts forecast that TTM Technologies will post 1.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. B. Riley lifted their target price on shares of TTM Technologies from $20.75 to $25.50 and gave the company a buy rating in a report on Thursday, July 18th. Needham & Company LLC boosted their target price on TTM Technologies from $19.00 to $21.00 and gave the company a buy rating in a report on Monday, June 17th. Finally, Stifel Nicolaus raised shares of TTM Technologies from a hold rating to a buy rating and boosted their price objective for the company from $15.00 to $19.00 in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $20.50.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, insider Robert P. Farrell sold 5,159 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $18.99, for a total transaction of $97,969.41. Following the sale, the insider now directly owns 22,958 shares of the company’s stock, valued at $435,972.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TTM Technologies news, insider Robert P. Farrell sold 5,159 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.99, for a total value of $97,969.41. Following the sale, the insider now directly owns 22,958 shares of the company’s stock, valued at $435,972.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Joseph Sandeen sold 23,683 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $17.53, for a total transaction of $415,162.99. Following the transaction, the insider now directly owns 28,056 shares of the company’s stock, valued at $491,821.68. The disclosure for this sale can be found here. Insiders have sold 124,721 shares of company stock worth $2,339,678 over the last quarter. 1.30% of the stock is owned by corporate insiders.

About TTM Technologies

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.