TTM Technologies (NASDAQ:TTMI) Releases Q2 2024 Earnings Guidance

TTM Technologies (NASDAQ:TTMI) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.320-0.380 for the period, compared to the consensus estimate of 0.350. The company issued revenue guidance of $560.0 million-$600.0 million, compared to the consensus revenue estimate of $576.4 million. TTM Technologies also updated its Q2 guidance to $0.32-0.38 EPS.

TTM Technologies Trading Up 4.0 %

NASDAQ:TTMI traded up $0.66 on Friday, reaching $17.31. The stock had a trading volume of 1,138,245 shares, compared to its average volume of 516,757. TTM Technologies has a 12-month low of $11.14 and a 12-month high of $17.32. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -865.50 and a beta of 1.37. The firm’s fifty day moving average is $14.81 and its two-hundred day moving average is $14.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.09 and a quick ratio of 1.73.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. The firm had revenue of $569.04 million for the quarter, compared to analyst estimates of $572.03 million. TTM Technologies had a negative net margin of 0.11% and a positive return on equity of 8.63%. TTM Technologies’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share. Equities analysts expect that TTM Technologies will post 1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at TTM Technologies

In other news, insider Tom Clapprood sold 3,500 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $16.48, for a total value of $57,680.00. Following the completion of the sale, the insider now owns 52,264 shares of the company’s stock, valued at $861,310.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company 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.