17,400 Shares in TTM Technologies, Inc. $TTMI Bought by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board initiated a TTM Technologies position by buying 17,400 shares worth approximately $3.25 million in the second quarter. Institutional investors and hedge funds collectively own 95.79% of the company.
• TTM Technologies exceeded quarterly expectations, reporting $0.99 in EPS versus the $0.89 consensus and $1.0 billion in revenue, up 37.4% year over year. Analysts expect full-year EPS of $4.26.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $214.25, although the stock recently traded at $118.65 and one firm downgraded it to “Hold.”

Canada Pension Plan Investment Board bought a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,400 shares of the technology company's stock, valued at approximately $3,254,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in TTM Technologies in the 2nd quarter valued at about $2,053,347,000. Rokos Capital Management LLP purchased a new position in TTM Technologies during the 1st quarter valued at about $13,031,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in TTM Technologies by 97.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company's stock worth $19,270,000 after acquiring an additional 97,799 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in TTM Technologies during the fourth quarter worth about $668,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of TTM Technologies in the first quarter valued at about $36,130,000. Institutional investors and hedge funds own 95.79% of the company's stock.

TTM Technologies Price Performance

NASDAQ:TTMI opened at $118.65 on Monday. TTM Technologies, Inc. has a 12-month low of $42.69 and a 12-month high of $223.83. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 53.45 and a beta of 2.15. The company's 50-day moving average is $142.53 and its two-hundred day moving average is $136.85. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results 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 business 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 company's quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. Research analysts expect that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Insider Activity

In other TTM Technologies news, EVP Douglas L. Soder sold 2,874 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $600,493.56. Following the transaction, the executive vice president owned 210,634 shares of the company's stock, valued at $44,009,867.96. This represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Edwin Roks acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the acquisition, the chief executive officer directly owned 64,814 shares of the company's stock, valued at approximately $7,244,260.78. The trade was a 18.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 108,241 shares of company stock valued at $20,911,975 in the last 90 days. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

TTMI has been the topic of several research reports. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price target on shares of TTM Technologies in a research report on Tuesday, August 18th. B. Riley Financial lifted their price objective on TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Stifel Nicolaus upped their target price on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Weiss Ratings cut TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Finally, Truist Financial raised their price target on TTM Technologies from $215.00 to $224.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus 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.

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