7,893 Shares in TTM Technologies, Inc. $TTMI Bought by Ausbil Investment Management Ltd

Key Points

• Ausbil Investment Management acquired 7,893 shares of TTM Technologies in the third quarter, valued at approximately $970,000. Institutional investors collectively own 95.79% of the company.
• TTM Technologies reported quarterly earnings of $0.99 per share, exceeding estimates of $0.89, while revenue rose 37.4% year over year to $1 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $203, compared with the shares’ reported price of $128.20; recent ratings included both upgrades in targets and downgrades to “Hold.”

Ausbil Investment Management Ltd acquired a new stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,893 shares of the technology company's stock, valued at approximately $970,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Venture Visionary Partners LLC purchased a new stake in shares of TTM Technologies in the third quarter worth $270,000. Elm3 Financial Group LLC raised its position in shares of TTM Technologies by 7.1% in the 3rd quarter. Elm3 Financial Group LLC now owns 2,142 shares of the technology company's stock worth $263,000 after purchasing an additional 142 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in TTM Technologies by 39.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 50,452 shares of the technology company's stock worth $9,436,000 after purchasing an additional 14,155 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in TTM Technologies in the 2nd quarter worth about $197,000. Finally, Nykredit A S purchased a new stake in TTM Technologies during the 2nd quarter valued at about $621,000. 95.79% of the stock is owned by institutional investors.

TTM Technologies Stock Performance

Shares of NASDAQ TTMI opened at $128.20 on Thursday. The firm's 50-day moving average price is $124.14 and its 200-day moving average price is $141.73. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The company has a market cap of $13.51 billion, a PE ratio of 57.75 and a beta of 2.14. TTM Technologies, Inc. has a 52-week low of $53.36 and a 52-week high of $223.83.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $962.04 million. During the same period in the previous year, the company earned $0.58 earnings per share. The firm's quarterly revenue was up 37.4% on a year-over-year basis. As a group, analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Analyst Ratings Changes

TTMI has been the subject of several recent analyst reports. Wall Street Zen cut shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 30th. Zacks Research cut shares of TTM Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday. Needham & Company LLC reduced their price target on shares of TTM Technologies from $220.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, September 21st. Weiss Ratings lowered shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Finally, Truist Financial upped 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. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $203.00.

Insider Buying and Selling at TTM Technologies

In other news, CEO Edwin Roks bought 10,000 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the transaction, the chief executive officer owned 64,814 shares of the company's stock, valued at approximately $7,244,260.78. This trade represents a 18.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 $5,699,596. The trade was a 39.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.30% of the company's stock.

TTM Technologies Company 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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