Needham & Company Maintains a 'Strong Buy' on TTMI (TTMI); 3Q Hampered By Macro Weakness, Expected To Continue Into F12
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Price: $142.38 +1.70%
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Needham & Company maintains a 'Strong Buy' on TTMI (NASDAQ: TTMI) price target lowered from $19 to $15.
Needham analyst says, "While TTMI’s SepQ3 performance is disappointing, we believe that our street high estimates may not be representative for the broader investor sentiment on the name, which had already suspected such a miss. Clearly we were wrong, but nevertheless we believe that our estimate adjustments now account more accurately for the weakened macro environment. Looking forward TTMI remains a compelling value/growth story that has been temporarily derailed by sector-specific headwinds."
"Revising 4Q to $355M and $0.31 non-GAAP (ex. opt.). C11 becomes $1.42B and $1.50, vs. $1.48B and $1.67. C12 estimate revised to $1.43B and $1.54 vs. $1.52B and $1.92."
For more ratings news on TTMI click here and for the rating history of TTMI click here.
Shares of TTMI closed at $10.86 yesterday.
Needham analyst says, "While TTMI’s SepQ3 performance is disappointing, we believe that our street high estimates may not be representative for the broader investor sentiment on the name, which had already suspected such a miss. Clearly we were wrong, but nevertheless we believe that our estimate adjustments now account more accurately for the weakened macro environment. Looking forward TTMI remains a compelling value/growth story that has been temporarily derailed by sector-specific headwinds."
"Revising 4Q to $355M and $0.31 non-GAAP (ex. opt.). C11 becomes $1.42B and $1.50, vs. $1.48B and $1.67. C12 estimate revised to $1.43B and $1.54 vs. $1.52B and $1.92."
For more ratings news on TTMI click here and for the rating history of TTMI click here.
Shares of TTMI closed at $10.86 yesterday.
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