Summit Global Investments Invests $784,000 in TTM Technologies, Inc. $TTMI

Summit Global Investments bought a new stake in TTM Technologies, Inc. (NASDAQ:TTMI) during the second quarter, according to its most recent filing with the SEC. The firm bought 4,193 shares of the technology company’s stock, valued at approximately $784,000.

Several other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC acquired a new position in TTM Technologies during the 2nd quarter worth $29,000. Kestra Advisory Services LLC acquired a new stake in shares of TTM Technologies in the fourth quarter valued at about $30,000. Truvestments Capital LLC acquired a new stake in shares of TTM Technologies in the fourth quarter valued at about $30,000. GoalVest Advisory LLC increased its stake in shares of TTM Technologies by 456.7% in 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, Rakuten Securities Inc. bought a new position in shares of TTM Technologies in the fourth quarter worth about $32,000. Institutional investors own 95.79% of the company’s stock.

Insider Transactions at TTM Technologies

In other news, EVP Shawn A. Powers sold 9,856 shares of TTM Technologies stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $2,067,788.80. Following the sale, the executive vice president owned 119,268 shares of the company’s stock, valued at approximately $25,022,426.40. This trade represents a 7.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Catherine A. Gridley sold 8,966 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 69,679 shares in the company, valued at approximately $14,618,654.20. This represents a 11.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 108,241 shares of company stock worth $20,911,975. 1.30% of the stock is currently owned by company insiders.

TTM Technologies Stock Up 0.8%

Shares of TTMI opened at $140.00 on Friday. The company has a 50-day simple moving average of $157.63 and a 200-day simple moving average of $135.10. The firm has a market capitalization of $14.75 billion, a P/E ratio of 63.06 and a beta of 2.14. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. TTM Technologies, Inc. has a 52 week low of $39.20 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, beating the consensus estimate of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $962.04 million. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue was up 37.4% on a year-over-year basis. On average, equities research analysts expect that TTM Technologies, Inc. will post 4.26 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on TTMI. Needham & Company LLC increased their target price on TTM Technologies from $208.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings raised TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded TTM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. 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, Zacks Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, TTM Technologies presently has a consensus rating of “Buy” and an average target price of $214.25.

TTM Technologies Profile

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.