California State Teachers Retirement System Purchases 21,844,831 Shares of TTM Technologies, Inc. $TTMI

California State Teachers Retirement System boosted its position in TTM Technologies, Inc. (NASDAQ:TTMI) by 18,244.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,964,564 shares of the technology company’s stock after buying an additional 21,844,831 shares during the quarter. California State Teachers Retirement System owned approximately 0.21% of TTM Technologies worth $4,107,813,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in TTM Technologies by 66.6% during the 1st quarter. Royal Bank of Canada now owns 26,433 shares of the technology company’s stock worth $543,000 after acquiring an additional 10,565 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TTM Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company’s stock valued at $1,232,000 after purchasing an additional 2,632 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of TTM Technologies by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company’s stock valued at $34,989,000 after purchasing an additional 115,766 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of TTM Technologies by 7.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company’s stock worth $3,908,000 after purchasing an additional 13,691 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of TTM Technologies by 1,150.2% in the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company’s stock worth $2,869,000 after purchasing an additional 128,700 shares during the period. Institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on TTMI shares. Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of TTM Technologies in a report on Tuesday, August 18th. Truist Financial increased their price objective on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, B. Riley Financial raised their price objective on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, TTM Technologies presently has a consensus rating of “Buy” and a consensus target price of $214.25.

TTM Technologies Trading Down 3.9%

Shares of TTMI stock opened at $124.25 on Thursday. TTM Technologies, Inc. has a 52-week low of $46.01 and a 52-week high of $223.83. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 55.97 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The firm has a fifty day moving average of $129.93 and a 200-day moving average of $138.43.

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

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, SVP Dale Knecht sold 26,198 shares of the company’s 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 sale, the senior vice president directly owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. This represents a 39.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shawn Powers sold 3,367 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $703,500.98. Following the sale, the executive vice president directly owned 120,801 shares of the company’s stock, valued at approximately $25,240,160.94. The trade was a 2.71% 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. Company insiders own 1.30% of the company’s stock.

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.