9,403 Shares in TTM Technologies, Inc. $TTMI Bought by Twin Tree Management LP

Key Points

• Twin Tree Management acquired 9,403 TTM Technologies shares worth approximately $1.76 million in the second quarter. Institutional investors collectively own 95.79% of the company.
• TTM Technologies reported quarterly EPS of $0.99, beating estimates by $0.10, while revenue reached $1 billion—up 37.4% year over year.
• Analysts maintain a favorable outlook, with the stock carrying an average “Buy” rating and a consensus price target of $214.25, despite insiders selling more than $20.9 million in shares last quarter.

Twin Tree Management LP acquired a new stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,403 shares of the technology company's stock, valued at approximately $1,759,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTMI. GAMMA Investing LLC increased its position in TTM Technologies by 1.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,340 shares of the technology company's stock worth $812,000 after purchasing an additional 75 shares during the last quarter. Parallel Advisors LLC raised its position in 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 acquiring an additional 87 shares in the last quarter. Lido Advisors LLC raised its position in TTM Technologies by 1.5% during the fourth quarter. Lido Advisors LLC now owns 8,013 shares of the technology company's stock valued at $553,000 after acquiring an additional 116 shares in the last quarter. GoalVest Advisory LLC lifted its stake in TTM Technologies by 456.7% in the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock valued at $31,000 after acquiring an additional 137 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in TTM Technologies by 4.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,289 shares of the technology company's stock valued at $320,000 after acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Buying and Selling

In related news, EVP Shawn A. Powers sold 3,367 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $703,500.98. Following the completion of the sale, the executive vice president owned 120,801 shares in the company, valued at $25,240,160.94. This represents a 2.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas L. Soder sold 2,874 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $600,493.56. Following the sale, the executive vice president owned 210,634 shares of the company's stock, valued at approximately $44,009,867.96. The trade was a 1.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 108,241 shares of company stock valued at $20,911,975 in the last quarter. Insiders own 1.30% of the company's stock.

TTM Technologies Price Performance

NASDAQ TTMI opened at $110.54 on Friday. TTM Technologies, Inc. has a 1 year low of $40.46 and a 1 year high of $223.83. The company has a fifty day simple moving average of $151.67 and a 200 day simple moving average of $135.98. 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 $11.65 billion, a P/E ratio of 49.79 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.89 by $0.10. The firm had revenue of $1 billion for 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 business's quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. On average, sell-side analysts predict that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Analyst Ratings Changes

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

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