TTM Technologies, Inc. (TTMI) Expected to Announce Quarterly Sales of $639.54 Million

Equities analysts expect TTM Technologies, Inc. (NASDAQ:TTMI) to report sales of $639.54 million for the current quarter, Zacks reports. Three analysts have made estimates for TTM Technologies’ earnings, with the highest sales estimate coming in at $648.61 million and the lowest estimate coming in at $635.00 million. TTM Technologies posted sales of $625.25 million in the same quarter last year, which suggests a positive year over year growth rate of 2.3%. The company is expected to issue its next earnings report on Wednesday, May 2nd.

On average, analysts expect that TTM Technologies will report full-year sales of $639.54 million for the current year, with estimates ranging from $2.74 billion to $2.89 billion. For the next financial year, analysts anticipate that the business will post sales of $2.94 billion per share, with estimates ranging from $2.84 billion to $3.12 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for TTM Technologies.

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TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. TTM Technologies had a return on equity of 13.26% and a net margin of 4.67%. The business had revenue of $739.30 million for the quarter, compared to analysts’ expectations of $724.65 million. During the same period in the previous year, the business posted $0.58 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year.

A number of brokerages recently issued reports on TTMI. JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 price objective (down from $22.00) on shares of TTM Technologies in a research note on Thursday, February 8th. BidaskClub cut TTM Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. SunTrust Banks began coverage on TTM Technologies in a research note on Thursday, December 14th. They issued a “buy” rating and a $20.00 price objective on the stock. Zacks Investment Research cut TTM Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Needham & Company LLC lowered their price objective on TTM Technologies from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. TTM Technologies presently has an average rating of “Buy” and a consensus price target of $19.50.

Shares of TTM Technologies (NASDAQ TTMI) traded down $0.73 during trading on Tuesday, reaching $15.48. The company had a trading volume of 666,386 shares, compared to its average volume of 659,100. TTM Technologies has a fifty-two week low of $12.76 and a fifty-two week high of $19.54. The company has a market cap of $1,584.29, a PE ratio of 14.07 and a beta of 1.65. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.96.

In other TTM Technologies news, EVP Tai Keung Chung sold 105,324 shares of TTM Technologies stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $16.15, for a total transaction of $1,700,982.60. Following the completion of the transaction, the executive vice president now owns 83,858 shares of the company’s stock, valued at approximately $1,354,306.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Tony Sanchez sold 3,975 shares of TTM Technologies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $16.09, for a total value of $63,957.75. Following the transaction, the vice president now directly owns 29,569 shares of the company’s stock, valued at approximately $475,765.21. The disclosure for this sale can be found here. Insiders have sold a total of 141,288 shares of company stock valued at $2,274,950 in the last ninety days. Insiders own 28.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in TTM Technologies by 16.4% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 127,300 shares of the technology company’s stock valued at $1,995,000 after buying an additional 17,900 shares in the last quarter. Sterling Capital Management LLC grew its holdings in TTM Technologies by 43.9% during the 4th quarter. Sterling Capital Management LLC now owns 246,083 shares of the technology company’s stock valued at $3,856,000 after buying an additional 75,091 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in TTM Technologies during the 4th quarter valued at about $681,000. Glenmede Trust Co. NA purchased a new position in TTM Technologies during the 4th quarter valued at about $34,384,000. Finally, Vident Investment Advisory LLC grew its holdings in TTM Technologies by 6.5% during the 4th quarter. Vident Investment Advisory LLC now owns 141,204 shares of the technology company’s stock valued at $2,213,000 after buying an additional 8,624 shares in the last quarter.

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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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