Zacks: Brokerages Anticipate TTM Technologies, Inc. (TTMI) Will Announce Quarterly Sales of $751.27 Million

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Wall Street brokerages expect TTM Technologies, Inc. (NASDAQ:TTMI) to announce sales of $751.27 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for TTM Technologies’ earnings, with the lowest sales estimate coming in at $749.88 million and the highest estimate coming in at $755.00 million. TTM Technologies posted sales of $666.81 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.7%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 30th.

On average, analysts expect that TTM Technologies will report full-year sales of $2.96 billion for the current financial year, with estimates ranging from $2.93 billion to $2.98 billion. For the next financial year, analysts forecast that the firm will post sales of $3.12 billion, with estimates ranging from $3.08 billion to $3.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow TTM Technologies.

TTM Technologies (NASDAQ:TTMI) last released its earnings results on Wednesday, August 1st. The technology company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.11. The firm had revenue of $716.89 million for the quarter, compared to the consensus estimate of $728.97 million. TTM Technologies had a return on equity of 15.85% and a net margin of 5.91%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Several research firms have recently weighed in on TTMI. BidaskClub downgraded TTM Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. ValuEngine raised TTM Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research downgraded TTM Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Needham & Company LLC boosted their target price on TTM Technologies from $20.00 to $23.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. TTM Technologies currently has an average rating of “Hold” and a consensus price target of $20.40.

NASDAQ TTMI opened at $14.18 on Friday. The company has a market cap of $1.65 billion, a PE ratio of 13.90 and a beta of 1.92. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.57 and a current ratio of 1.74. TTM Technologies has a fifty-two week low of $13.72 and a fifty-two week high of $19.91.

In other TTM Technologies news, insider William Kent Hardwick sold 3,115 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $18.91, for a total value of $58,904.65. Following the completion of the sale, the insider now directly owns 44,997 shares in the company, valued at approximately $850,893.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brian W. Barber sold 1,315 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $19.24, for a total value of $25,300.60. Following the completion of the sale, the chief operating officer now owns 76,280 shares of the company’s stock, valued at $1,467,627.20. The disclosure for this sale can be found here. Insiders sold a total of 27,775 shares of company stock valued at $525,426 over the last quarter. Company insiders own 10.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of TTMI. Victory Capital Management Inc. lifted its stake in shares of TTM Technologies by 47.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,542,592 shares of the technology company’s stock worth $44,826,000 after purchasing an additional 816,626 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of TTM Technologies by 50.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,280,099 shares of the technology company’s stock worth $40,198,000 after purchasing an additional 760,892 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of TTM Technologies by 578.1% during the 2nd quarter. Voya Investment Management LLC now owns 839,659 shares of the technology company’s stock worth $14,803,000 after purchasing an additional 715,833 shares during the last quarter. Smith Graham & Co. Investment Advisors LP purchased a new stake in shares of TTM Technologies during the 2nd quarter worth $8,778,000. Finally, Glenmede Trust Co. NA lifted its stake in shares of TTM Technologies by 19.2% during the 2nd quarter. Glenmede Trust Co. NA now owns 2,615,002 shares of the technology company’s stock worth $46,102,000 after purchasing an additional 420,617 shares during 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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