Why TTM Technologies Shares Tumbled

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 Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of electronics-maker TTM Technologies (NASDAQ: TTMI  ) were getting shocked today, falling as much as 17% today after getting downgraded by Stifel Nicolaus.

So what: In addition to the downgrade, shares were falling as a result of the broad-based sell-off around Apple (NASDAQ: AAPL  ) and its suppliers, as TTM makes circuit boards for iPhones. Stifel Nicolaus, which dropped its rating from buy to hold, called out a number of issues with TTM, including "soft demand, excess industry capacity, and ongoing margin pressure."

Now what: Stifel Nicolaus' downgrade is just the latest in the past few months that has seen JPMorgan Chase and Longbow Research cut their estimates on the circuit-board maker as well. With the news yesterday that Apple cut its parts orders in half, this is probably a good time to stay away from its suppliers until further notice. TTM reports earnings on Feb. 4, with the consensus EPS at $0.18 a share. Given recent developments, it could easily miss those estimates.

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  • Report this Comment On January 15, 2013, at 6:05 PM, bashersuit wrote:

    TTM Technologies, Inc. Updates Fourth Quarter 2012 Guidance

    Press Release: TTM Technologies – 1 hour 1 minute ago

    COSTA MESA, Calif., Jan. 15, 2013 TTM Technologies, Inc.a major global printed circuit board manufacturer, today announced it expects to report both revenue and earnings per share

    (( at or somewhat above the high end of its previous guidance for the fourth quarter of 2012. ))

    The company provided fourth quarter guidance of revenue from $360 million to $380 million, GAAP earnings attributable to stockholders of $0.07 to $0.14 per diluted share and non-GAAP earnings attributable to stockholders of $0.14 to $0.21 per diluted share.

    TTM Technologies will announce its fourth quarter and fiscal year 2012 results after the market closes on February 5, 2013.

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