TTM Technologies (NASDAQ:TTMI) Announces Earnings Results

TTM Technologies (NASDAQ:TTMI) announced its quarterly earnings data on Thursday. The technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.21, FiscalAI reports. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%. The business’s quarterly revenue was up 59.9% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS.

TTM Technologies Stock Up 7.0%

Shares of NASDAQ:TTMI opened at $102.15 on Thursday. The company has a 50 day moving average price of $119.57 and a two-hundred day moving average price of $142.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The company has a market capitalization of $10.76 billion, a PE ratio of 46.01 and a beta of 2.14. TTM Technologies has a 52 week low of $54.43 and a 52 week high of $223.83.

Insiders Place Their Bets

In other news, SVP Dale Knecht sold 26,198 shares of TTM Technologies stock in a transaction on Monday, August 10th. The shares were sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the transaction, the senior vice president directly owned 40,138 shares of the company’s stock, valued at $5,699,596. This trade represents a 39.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edwin Roks purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average cost of $111.77 per share, with a total value of $1,117,700.00. Following the acquisition, the chief executive officer directly owned 64,814 shares in the company, valued at $7,244,260.78. This trade represents a 18.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TTMI. Zacks Research lowered TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings cut shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Truist Financial increased their price target on TTM Technologies from $224.00 to $231.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Wall Street Zen lowered TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Finally, Needham & Company LLC reduced their price target on TTM Technologies from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.75.

About TTM Technologies

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.