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 %

Shares of TTMI stock traded up $0.66 on Friday, reaching $17.31. 1,138,245 shares of the stock were exchanged, compared to its average volume of 516,757. The stock has a market cap of $1.76 billion, a P/E ratio of -865.50 and a beta of 1.37. The company has a quick ratio of 1.73, a current ratio of 2.09 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $14.81 and a two-hundred day moving average of $14.61. TTM Technologies has a 1-year low of $11.14 and a 1-year high of $17.32.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $569.04 million during the quarter, compared to the consensus estimate of $572.03 million. During the same period in the prior year, the firm earned $0.36 EPS. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, research analysts anticipate that TTM Technologies will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus upgraded TTM Technologies from a hold rating to a buy rating and raised their target price for the company from $15.00 to $19.00 in a research note on Thursday. Needham & Company LLC restated a buy rating and set a $19.00 target price on shares of TTM Technologies in a research note on Thursday. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and an average price target of $18.17.

Insider Transactions at TTM Technologies

In other news, insider Tom Clapprood sold 3,500 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $16.48, for a total transaction of $57,680.00. Following the transaction, the insider now owns 52,264 shares of the company’s stock, 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.