72,523 Shares in TTM Technologies, Inc. $TTMI Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 72,523 TTM Technologies shares worth approximately $13.6 million, giving it a 0.07% stake. Institutional investors collectively own 95.79% of the company.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $214.25; targets from several firms were recently raised.
• TTM Technologies exceeded quarterly expectations, reporting $0.99 EPS versus $0.89 expected and $1 billion in revenue, up 37.4% year over year. CEO Edwin Roks also purchased 10,000 shares, while insiders sold 108,241 shares during the quarter.

The Manufacturers Life Insurance Company acquired a new stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 72,523 shares of the technology company's stock, valued at approximately $13,563,000. The Manufacturers Life Insurance Company owned 0.07% of TTM Technologies at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TTMI. Royal Bank of Canada boosted its holdings in shares of TTM Technologies by 66.6% during the first 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of TTM Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company's stock worth $1,232,000 after purchasing an additional 2,632 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of TTM Technologies by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after purchasing an additional 115,766 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in TTM Technologies by 7.7% during the 1st 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 last quarter. Finally, Jane Street Group LLC boosted its stake in TTM Technologies by 1,150.2% in the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock valued at $2,869,000 after purchasing an additional 128,700 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

Wall Street Analyst Weigh In

TTMI has been the topic of several recent research reports. Weiss Ratings cut TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Stifel Nicolaus boosted their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Needham & Company LLC restated a "buy" rating and issued a $220.00 price target on shares of TTM Technologies in a research note on Tuesday, August 18th. Truist Financial raised their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, TTM Technologies currently has a consensus rating of "Buy" and an average price target of $214.25.

Insider Transactions at TTM Technologies

In other news, CEO Edwin Roks bought 10,000 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was 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 owned 64,814 shares of the company's stock, valued at $7,244,260.78. This represents a 18.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas L. Soder sold 8,902 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total transaction of $1,867,550.58. Following the sale, the executive vice president directly owned 208,245 shares of the company's stock, valued at approximately $43,687,718.55. This trade represents a 4.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 108,241 shares of company stock worth $20,911,975. Corporate insiders own 1.30% of the company's stock.

TTM Technologies Price Performance

TTM Technologies stock opened at $118.65 on Friday. The firm has a market cap of $12.50 billion, a PE ratio of 53.45 and a beta of 2.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. The stock's fifty day moving average price is $142.53 and its two-hundred day moving average price is $136.58. TTM Technologies, Inc. has a one year low of $42.69 and a one year high of $223.83.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.10. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The company's revenue was up 37.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 EPS. As a group, research analysts expect that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

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.

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