TTM Technologies (TTMI) Expected to Announce Quarterly Sales of $727.71 Million

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Equities research analysts forecast that TTM Technologies (NASDAQ:TTMI) will post sales of $727.71 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for TTM Technologies’ earnings. The highest sales estimate is $731.53 million and the lowest is $725.00 million. TTM Technologies posted sales of $627.18 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The business is expected to announce its next quarterly earnings report on Wednesday, August 1st.

According to Zacks, analysts expect that TTM Technologies will report full-year sales of $2.98 billion for the current financial year, with estimates ranging from $2.93 billion to $3.02 billion. For the next year, analysts forecast that the company will post sales of $3.15 billion per share, with estimates ranging from $3.08 billion to $3.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover TTM Technologies.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.26. The firm had revenue of $663.58 million during the quarter, compared to analysts’ expectations of $638.80 million. TTM Technologies had a net margin of 3.76% and a return on equity of 10.32%. TTM Technologies’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS.

A number of analysts recently weighed in on TTMI shares. BidaskClub upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, March 20th. Stifel Nicolaus increased their price target on shares of TTM Technologies from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 25th. Zacks Investment Research upgraded shares of TTM Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 12th. ValuEngine cut shares of TTM Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Deutsche Bank started coverage on shares of TTM Technologies in a research note on Thursday, June 14th. They issued a “hold” rating and a $19.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.80.

NASDAQ:TTMI traded up $0.01 during trading hours on Thursday, reaching $19.15. 1,150,400 shares of the company’s stock were exchanged, compared to its average volume of 903,371. The stock has a market cap of $1.97 billion, a P/E ratio of 18.41 and a beta of 1.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.84 and a quick ratio of 1.72. TTM Technologies has a 1-year low of $12.76 and a 1-year high of $19.62.

In other news, COO Brian W. Barber sold 8,263 shares of the firm’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $19.00, for a total value of $156,997.00. Following the completion of the sale, the chief operating officer now owns 78,783 shares in the company, valued at approximately $1,496,877. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 9,343 shares of company stock valued at $175,901 in the last 90 days. Company insiders own 10.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC purchased a new position in shares of TTM Technologies in the 1st quarter valued at about $34,984,000. Glenmede Trust Co. NA purchased a new position in shares of TTM Technologies in the 4th quarter valued at about $34,384,000. Wedge Capital Management L L P NC increased its holdings in shares of TTM Technologies by 2,970.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 820,849 shares of the technology company’s stock valued at $12,551,000 after purchasing an additional 794,115 shares in the last quarter. Tocqueville Asset Management L.P. increased its holdings in shares of TTM Technologies by 31.9% in the 4th quarter. Tocqueville Asset Management L.P. now owns 2,709,663 shares of the technology company’s stock valued at $42,460,000 after purchasing an additional 655,015 shares in the last quarter. Finally, Cortina Asset Management LLC increased its holdings in shares of TTM Technologies by 57.0% in the 4th quarter. Cortina Asset Management LLC now owns 1,397,912 shares of the technology company’s stock valued at $21,905,000 after purchasing an additional 507,554 shares in the last quarter.

TTM Technologies Company Profile

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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