TTM Technologies (NASDAQ:TTMI) Releases Q2 2024 Earnings Guidance

TTM Technologies (NASDAQ:TTMI) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.320-0.380 for the period, compared to the consensus EPS estimate of 0.350. The company issued revenue guidance of $560.0 million-$600.0 million, compared to the consensus revenue estimate of $576.4 million. TTM Technologies also updated its Q2 guidance to $0.32-0.38 EPS.

TTM Technologies Stock Performance

TTMI stock traded up $0.66 during midday trading on Friday, hitting $17.31. The stock had a trading volume of 1,138,245 shares, compared to its average volume of 516,757. TTM Technologies has a 52 week low of $11.14 and a 52 week high of $17.32. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -865.50 and a beta of 1.37. The company has a current ratio of 2.09, a quick ratio of 1.73 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $14.81 and a 200 day simple moving average of $14.61.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The firm had revenue of $569.04 million for the quarter, compared to analysts’ expectations of $572.03 million. TTM Technologies had a positive return on equity of 8.63% and a negative net margin of 0.11%. The business’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. As a group, equities research analysts anticipate that TTM Technologies will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TTMI. Stifel Nicolaus upgraded shares of TTM Technologies from a hold rating to a buy rating and raised their price objective for the company from $15.00 to $19.00 in a research report on Thursday. Needham & Company LLC reissued a buy rating and issued a $19.00 target price on shares of TTM Technologies in a research note on Thursday. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $18.17.

Insiders Place Their Bets

In related news, insider Tom Clapprood sold 3,500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $16.48, for a total value of $57,680.00. Following the completion of the transaction, the insider now directly owns 52,264 shares of the company’s stock, valued at approximately $861,310.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

About TTM Technologies

TTM Technologies, Inc, together with its subsidiaries, manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments, PCB and RF&S Components. It offers range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, IC substrates, passive RF components, advanced ceramic RF components, hi-reliability multi-chip modules, beamforming and switching networks, PCB products, RF components, and backplane/custom assembly solutions, including conventional PCBs.