Invst LLC Makes New Investment in TTM Technologies, Inc. $TTMI

Invst LLC bought a new stake in TTM Technologies, Inc. (NASDAQ:TTMI) in the 2nd quarter, HoldingsChannel reports. The firm bought 6,729 shares of the technology company’s stock, valued at approximately $1,258,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new position in shares of TTM Technologies during the 2nd quarter valued at about $29,000. Kestra Advisory Services LLC acquired a new stake in TTM Technologies during the fourth quarter worth about $30,000. Truvestments Capital LLC acquired a new stake in TTM Technologies during the fourth quarter worth about $30,000. GoalVest Advisory LLC raised its stake in TTM Technologies by 456.7% during the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock worth $31,000 after purchasing an additional 137 shares during the period. Finally, Parallel Advisors LLC raised its stake in TTM Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after purchasing an additional 87 shares during the period. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Price Performance

TTMI stock opened at $112.30 on Wednesday. The business’s fifty day moving average price is $147.94 and its 200 day moving average price is $136.32. TTM Technologies, Inc. has a 12-month low of $42.69 and a 12-month high of $223.83. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $11.83 billion, a PE ratio of 50.59 and a beta of 2.15.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.TTM Technologies’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. On average, sell-side analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Insider Transactions at TTM Technologies

In other TTM Technologies news, EVP Catherine A. Gridley sold 8,966 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total value of $1,881,066.80. Following the completion of the transaction, the executive vice president owned 69,679 shares in the company, valued at $14,618,654.20. The trade was a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Edwin Roks acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were bought at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the transaction, the chief executive officer directly owned 64,814 shares of the company’s stock, valued at approximately $7,244,260.78. This trade represents a 18.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 108,241 shares of company stock valued at $20,911,975. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TTMI shares. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of TTM Technologies in a research note on Tuesday, August 18th. B. Riley Financial upped their price objective on TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Stifel Nicolaus increased their price objective on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings raised TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Truist Financial lifted their target price on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $214.25.

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.