Brokerages forecast that TTM Technologies, Inc. (NASDAQ:TTMI) will post $548.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for TTM Technologies' earnings, with estimates ranging from $544.60 million to $550.30 million. TTM Technologies posted sales of $570.30 million during the same quarter last year, which suggests a negative year over year growth rate of 3.9%. The company is expected to report its next earnings report after the market closes on Wednesday, July 28th.
On average, analysts expect that TTM Technologies will report full-year sales of $2.22 billion for the current financial year, with estimates ranging from $2.19 billion to $2.24 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.30 billion, with estimates ranging from $2.25 billion to $2.35 billion. Zacks' sales calculations are a mean average based on a survey of analysts that that provide coverage for TTM Technologies.
TTM Technologies (NASDAQ:TTMI) last released its earnings results on Wednesday, April 28th. The technology company reported $0.23 earnings per share for the quarter, hitting the Thomson Reuters' consensus estimate of $0.23. The firm had revenue of $526.43 million for the quarter, compared to the consensus estimate of $511.20 million. TTM Technologies had a negative return on equity of 1.14% and a net margin of 8.77%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share.
A number of brokerages have recently weighed in on TTMI. Zacks Investment Research upgraded TTM Technologies from a "sell" rating to a "hold" rating in a report on Tuesday, June 29th. Needham & Company LLC upped their price objective on TTM Technologies from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, April 29th. Finally, B. Riley reiterated a "buy" rating on shares of TTM Technologies in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. TTM Technologies has a consensus rating of "Buy" and an average price target of $16.04.
In other TTM Technologies news, VP Tony Sanchez sold 2,654 shares of the stock in a transaction dated Wednesday, June 23rd. The shares were sold at an average price of $14.36, for a total transaction of $38,111.44. Following the completion of the sale, the vice president now directly owns 27,445 shares of the company's stock, valued at $394,110.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Philip Titterton sold 7,226 shares of the stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $14.46, for a total transaction of $104,487.96. Following the completion of the transaction, the chief operating officer now owns 59,023 shares in the company, valued at approximately $853,472.58. The disclosure for this sale can be found here. Insiders have sold a total of 27,577 shares of company stock worth $403,136 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in TTM Technologies by 5.6% in the first quarter. BlackRock Inc. now owns 16,099,936 shares of the technology company's stock valued at $233,450,000 after buying an additional 857,869 shares during the last quarter. LSV Asset Management boosted its stake in shares of TTM Technologies by 10.8% during the first quarter. LSV Asset Management now owns 3,677,122 shares of the technology company's stock valued at $53,318,000 after acquiring an additional 357,104 shares during the last quarter. Rubric Capital Management LP raised its holdings in shares of TTM Technologies by 2.9% in the 1st quarter. Rubric Capital Management LP now owns 3,500,000 shares of the technology company's stock worth $50,750,000 after purchasing an additional 100,000 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of TTM Technologies by 7.4% in the 1st quarter. Nuveen Asset Management LLC now owns 2,839,615 shares of the technology company's stock worth $41,175,000 after purchasing an additional 194,464 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of TTM Technologies by 3,187.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 2,701,112 shares of the technology company's stock worth $39,167,000 after purchasing an additional 2,618,944 shares during the period.
Shares of TTMI opened at $13.74 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 8.04 and a beta of 1.64. TTM Technologies has a 52 week low of $10.54 and a 52 week high of $15.36. The company has a current ratio of 2.62, a quick ratio of 2.38 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $14.59.
TTM Technologies Company Profile
TTM Technologies, Inc, together with its subsidiaries, manufactures and sells printed circuit boards (PCBs) worldwide. It operates PCB and RF&S Components segments. The company offers a range of PCB products, radio-frequency (RF) components, conventional PCBs, RF and microwave circuits, high density interconnect PCBs, substrate-like PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, IC substrates, passive RF components, advanced ceramic RF components, multi-chip modules, and beamforming and switching networks.
Recommended Story: What is a SEC Filing?
Get a free copy of the Zacks research report on TTM Technologies (TTMI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider TTM Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TTM Technologies wasn't on the list.
While TTM Technologies currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here