Analysts Anticipate TTM Technologies, Inc. (NASDAQ:TTMI) Will Post Quarterly Sales of $660.90 Million
Wall Street analysts predict that TTM Technologies, Inc. (NASDAQ:TTMI) will post sales of $660.90 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for TTM Technologies’ earnings, with the lowest sales estimate coming in at $658.21 million and the highest estimate coming in at $665.00 million. TTM Technologies posted sales of $710.96 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 7%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, February 5th.
On average, analysts expect that TTM Technologies will report full year sales of $2.63 billion for the current year, with estimates ranging from $2.63 billion to $2.64 billion. For the next year, analysts forecast that the company will report sales of $2.72 billion, with estimates ranging from $2.69 billion to $2.76 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for TTM Technologies.
TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.01). The company had revenue of $716.80 million during the quarter, compared to analyst estimates of $709.49 million. TTM Technologies had a net margin of 2.56% and a return on equity of 5.56%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS.
TTMI stock traded down $0.11 during midday trading on Wednesday, reaching $15.38. The company had a trading volume of 428,336 shares, compared to its average volume of 797,150. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 11.14 and a beta of 2.59. The stock has a 50 day moving average price of $14.59 and a 200-day moving average price of $12.21. TTM Technologies has a 1-year low of $8.49 and a 1-year high of $15.67. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.92 and a quick ratio of 1.73.
In other TTM Technologies news, CFO Todd B. Schull sold 49,843 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $15.00, for a total transaction of $747,645.00. Following the completion of the transaction, the chief financial officer now owns 270,737 shares of the company’s stock, valued at $4,061,055. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 50,494 shares of company stock valued at $756,274. Insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TTMI. Charles Schwab Investment Management Inc. raised its stake in TTM Technologies by 10.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,006,347 shares of the technology company’s stock worth $10,265,000 after acquiring an additional 97,883 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TTM Technologies by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 1,391,228 shares of the technology company’s stock worth $14,190,000 after purchasing an additional 52,909 shares during the last quarter. Northern Trust Corp grew its holdings in shares of TTM Technologies by 2.6% during the second quarter. Northern Trust Corp now owns 1,305,969 shares of the technology company’s stock worth $13,321,000 after purchasing an additional 32,845 shares during the last quarter. Glen Harbor Capital Management LLC grew its holdings in shares of TTM Technologies by 30.7% during the second quarter. Glen Harbor Capital Management LLC now owns 15,906 shares of the technology company’s stock worth $162,000 after purchasing an additional 3,740 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of TTM Technologies by 30.7% during the second quarter. Meadow Creek Investment Management LLC now owns 24,582 shares of the technology company’s stock worth $251,000 after purchasing an additional 5,780 shares during the last quarter.
About TTM Technologies
TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments, PCB and E-M Solutions. The company offers a range of PCBs and electro-mechanical solutions, including conventional PCBs, high density interconnect PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, and IC substrates.
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