14,155 TTM Technologies, Inc. $TTMI Shares Acquired by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its TTM Technologies stake by 39% in the second quarter, acquiring 14,155 additional shares and bringing its holdings to 50,452 shares valued at approximately $9.4 million. Institutional investors collectively own 95.79% of the company.
• Analyst sentiment remains positive overall, with TTM Technologies carrying a consensus “Buy” rating and a $203 target price, despite some recent rating downgrades and target-price cuts.
• TTM Technologies exceeded quarterly expectations, reporting $0.99 EPS versus a $0.89 estimate and $1 billion in revenue, up 37.4% year over year. CEO Edwin Roks also purchased 10,000 shares, while another senior executive sold 26,198 shares.

Envestnet Asset Management Inc. grew its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 39.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 50,452 shares of the technology company's stock after buying an additional 14,155 shares during the period. Envestnet Asset Management Inc.'s holdings in TTM Technologies were worth $9,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC bought a new position in TTM Technologies in the 2nd quarter valued at approximately $29,000. GoalVest Advisory LLC increased its holdings in shares of TTM Technologies by 456.7% in the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of TTM Technologies in the second quarter worth $47,000. Persistent Asset Partners Ltd bought a new position in shares of TTM Technologies during the second quarter valued at $49,000. Finally, Parallel Advisors LLC lifted its holdings in shares of TTM Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company's stock valued at $32,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TTMI shares. Weiss Ratings downgraded TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Needham & Company LLC lowered their target price on shares of TTM Technologies from $220.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, September 21st. Truist Financial boosted their price objective on shares of TTM Technologies from $215.00 to $224.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen cut shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 30th. Finally, Zacks Research raised shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $203.00.

TTM Technologies Stock Performance

TTMI opened at $126.50 on Friday. The company's 50 day moving average is $122.93 and its 200 day moving average is $140.75. 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 cap of $13.33 billion, a price-to-earnings ratio of 56.98 and a beta of 2.14. TTM Technologies, Inc. has a 12-month low of $53.36 and a 12-month high of $223.83.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly 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 net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. During the same period last year, the firm earned $0.58 earnings per share. The company's quarterly revenue was up 37.4% on a year-over-year basis. On average, equities research analysts predict that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Insider Transactions at TTM Technologies

In other news, CEO Edwin Roks purchased 10,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the acquisition, the chief executive officer directly owned 64,814 shares of the company's stock, valued at $7,244,260.78. This trade represents a 18.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Dale Knecht sold 26,198 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the transaction, the senior vice president owned 40,138 shares of the company's stock, valued at approximately $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.30% of the company's stock.

TTM Technologies Profile

TTM Technologies, Inc is a manufacturer of technology solutions for the electronics industry. The company primarily produces printed circuit boards, including rigid, flexible, rigid-flex and high-density interconnect boards, as well as specialized radio-frequency and microwave components and assemblies.

TTM's products and services support applications that require complex electronic circuitry and high reliability. Its customers operate in markets such as aerospace and defense, data-center computing, automotive, medical, industrial and instrumentation, and networking and communications.

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