UBS Maintains a 'Buy' on TTMI (TTMI); Q2 Likely Bottom...Will Top 5 Customers Step Up?
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Price: $14.53 -0.62%
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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UBS maintains a 'Buy' on TTMI (NASDAQ: TTMI) price target of $12.50 (from $14.00).
Analyst, Amitabh Passi, said, "2Q Revs/EPS of $327m/$0.17 vs. Cons. at $329m/$0.23; 2Q Likely Bottom...Q3 Revs/EPS mid-point guidance came in at $350m/$0.20, compared with Consensus at $362m/$0.33 (UBSe $345m/$0.29). As we look to 2H, we foresee TTMI benefiting from key tablet (multiple) and e-reader ramps, and smartphones (including, we believe, the iphone5). UBS Asia tech analysts expect HDI supply to be tight mid-3Q to 4Q. We therefore expect utilization to improve in APAC, though offset by weaker NA telecom/networking trends in 3Q. Top 5 customers in 3Q were Apple (Nasdaq: AAPL), Cisco (Nasdaq: CSCO), Ericsson (Nasdaq: ERIC), Huawei, and IBM (NYSE: IBM) (Juniper (Nasdaq: JNPR) and ZTE in top 5 list in 1Q12)."
FY12 EPS estimate lowered from $1.09 to $0.77 and FY13 from $1.56 to $1.08.
For an analyst ratings summary and ratings history on TTMI click here. For more ratings news on TTMI click here.
Shares of TTMI closed at $10.94 yesterday.
Analyst, Amitabh Passi, said, "2Q Revs/EPS of $327m/$0.17 vs. Cons. at $329m/$0.23; 2Q Likely Bottom...Q3 Revs/EPS mid-point guidance came in at $350m/$0.20, compared with Consensus at $362m/$0.33 (UBSe $345m/$0.29). As we look to 2H, we foresee TTMI benefiting from key tablet (multiple) and e-reader ramps, and smartphones (including, we believe, the iphone5). UBS Asia tech analysts expect HDI supply to be tight mid-3Q to 4Q. We therefore expect utilization to improve in APAC, though offset by weaker NA telecom/networking trends in 3Q. Top 5 customers in 3Q were Apple (Nasdaq: AAPL), Cisco (Nasdaq: CSCO), Ericsson (Nasdaq: ERIC), Huawei, and IBM (NYSE: IBM) (Juniper (Nasdaq: JNPR) and ZTE in top 5 list in 1Q12)."
FY12 EPS estimate lowered from $1.09 to $0.77 and FY13 from $1.56 to $1.08.
For an analyst ratings summary and ratings history on TTMI click here. For more ratings news on TTMI click here.
Shares of TTMI closed at $10.94 yesterday.
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