5,024 Shares in TTM Technologies, Inc. $TTMI Purchased by PCM Encore LLC

PCM Encore LLC acquired a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,024 shares of the technology company’s stock, valued at approximately $940,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TTMI. BlackRock Inc. bought a new stake in shares of TTM Technologies in the 2nd quarter valued at approximately $2,053,347,000. Polar Capital Holdings Plc purchased a new position in shares of TTM Technologies in the 3rd quarter worth approximately $176,376,000. Invesco Ltd. increased its position in shares of TTM Technologies by 127.7% during the 3rd quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company’s stock valued at $277,281,000 after purchasing an additional 2,699,494 shares during the last quarter. Whale Rock Capital Management LLC increased its position in shares of TTM Technologies by 112.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company’s stock valued at $295,066,000 after purchasing an additional 2,260,035 shares during the last quarter. Finally, Castle Hook Partners LP purchased a new stake in TTM Technologies during the 4th quarter valued at $133,351,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Truist Financial increased their target price on shares of TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Zacks Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Finally, B. Riley Financial upped their price target on shares of TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $214.25.

TTM Technologies Stock Performance

Shares of TTM Technologies stock opened at $114.38 on Friday. The stock’s fifty day moving average is $153.34 and its two-hundred day moving average is $136.16. The company has a market capitalization of $12.05 billion, a PE ratio of 51.52 and a beta of 2.14. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. TTM Technologies, Inc. has a 52 week low of $39.66 and a 52 week high of $223.83.

TTM Technologies (NASDAQ:TTMI) last released its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.10. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. During the same period last year, the company earned $0.58 earnings per share. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. As a group, analysts expect that TTM Technologies, Inc. will post 4.26 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Dale Martin Knecht sold 26,198 shares of TTM Technologies stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the sale, the senior vice president owned 40,138 shares in the company, valued at $5,699,596. This trade represents a 39.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Catherine A. Gridley sold 8,966 shares of TTM Technologies stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the sale, the executive vice president directly owned 69,679 shares of the company’s stock, valued at $14,618,654.20. This represents a 11.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,241 shares of company stock worth $20,911,975 over the last ninety days. 1.30% of the stock is owned by insiders.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.