TTM Technologies (NASDAQ:TTMI) released its earnings results on Wednesday. The technology company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.01), RTT News reports. TTM Technologies had a return on equity of 5.58% and a net margin of 2.56%. The company had revenue of $716.80 million during the quarter, compared to the consensus estimate of $709.49 million. During the same period last year, the firm posted $0.50 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. TTM Technologies updated its Q4 guidance to $0.25-0.31 EPS.
Shares of TTMI stock traded up $0.60 during mid-day trading on Friday, hitting $12.31. The company’s stock had a trading volume of 986,100 shares, compared to its average volume of 685,457. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 8.92 and a beta of 2.52. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.71 and a current ratio of 1.91. The business has a 50-day moving average price of $12.26 and a 200 day moving average price of $11.00. TTM Technologies has a 52-week low of $8.49 and a 52-week high of $13.92.
In other news, SVP Daniel J. Weber sold 20,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $10.70, for a total value of $214,000.00. Following the completion of the transaction, the senior vice president now owns 57,734 shares of the company’s stock, valued at $617,753.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Tai Keung Chung sold 29,839 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $10.58, for a total value of $315,696.62. Following the completion of the transaction, the executive vice president now directly owns 48,518 shares of the company’s stock, valued at approximately $513,320.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,939 shares of company stock valued at $784,007. Corporate insiders own 6.90% of the company’s stock.
Several research firms have recently weighed in on TTMI. ValuEngine upgraded TTM Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Stifel Nicolaus boosted their price target on TTM Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. B. Riley began coverage on TTM Technologies in a research note on Thursday, September 5th. They issued a “buy” rating and a $17.75 price target for the company. JPMorgan Chase & Co. cut TTM Technologies from an “overweight” rating to a “neutral” rating and set a $14.00 price target for the company. in a research note on Monday, August 5th. Finally, Zacks Investment Research cut TTM Technologies from a “buy” rating to a “hold” rating and set a $14.00 price target for the company. in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $14.69.
About TTM Technologies
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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