TTM Technologies, Inc. (TTMI) Issues Quarterly Earnings Results
TTM Technologies, Inc. (NASDAQ:TTMI) announced its quarterly earnings data on Wednesday. The technology company reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32, Bloomberg Earnings reports. The company had revenue of $666.81 million during the quarter, compared to analyst estimates of $651.67 million. TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. TTM Technologies updated its Q4 guidance to $0.49 to $0.55 EPS.
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TTMI has been the subject of several recent analyst reports. BidaskClub raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Stifel Nicolaus lowered shares of TTM Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $18.50 to $19.00 in a report on Friday, July 28th. Needham & Company LLC raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a report on Monday, August 7th. Zacks Investment Research lowered shares of TTM Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co set a $22.00 price objective on shares of TTM Technologies and gave the stock a “buy” rating in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $20.50.
In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $14.70, for a total value of $44,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 9,000 shares of company stock worth $133,980 in the last three months. Insiders own 28.40% of the company’s stock.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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