Algert Global LLC Sells 49,863 Shares of TTM Technologies, Inc. $TTMI

Key Points

• Algert Global reduced its TTM Technologies stake by 37.2%, selling 49,863 shares and retaining 84,302 shares valued at approximately $15.8 million. Institutional investors collectively own 95.79% of the company.
• Analysts remain bullish, with TTM Technologies receiving an average “Buy” rating and an average price target of $214.25; several firms recently upgraded the stock or raised their targets.
• TTM reported quarterly earnings of $0.99 per share, beating estimates of $0.89, while revenue rose 37.4% year over year to roughly $1 billion. The stock opened at $107.12, down 3.1%, and insiders have sold more than 108,000 shares worth about $20.9 million over the past 90 days.

Algert Global LLC reduced its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 37.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,302 shares of the technology company's stock after selling 49,863 shares during the period. Algert Global LLC owned about 0.08% of TTM Technologies worth $15,766,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TTMI. Royal Bank of Canada raised its holdings in TTM Technologies by 66.6% in the 1st quarter. Royal Bank of Canada now owns 26,433 shares of the technology company's stock worth $543,000 after purchasing an additional 10,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 valued at $1,232,000 after purchasing an additional 2,632 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in 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 valued at $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 grew its holdings in TTM Technologies by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company's stock valued at $3,908,000 after purchasing an additional 13,691 shares during the period. Finally, Jane Street Group LLC increased its position in TTM Technologies by 1,150.2% in the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock worth $2,869,000 after buying an additional 128,700 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TTMI. Weiss Ratings raised TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Stifel Nicolaus boosted their price objective on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. 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 report on Thursday, May 28th. Zacks Research upgraded shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $214.25.

TTM Technologies Stock Down 3.1%

NASDAQ TTMI opened at $107.12 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The company has a market capitalization of $11.29 billion, a P/E ratio of 48.25 and a beta of 2.15. TTM Technologies, Inc. has a one year low of $42.69 and a one year high of $223.83. The stock has a 50 day moving average price of $149.68 and a 200-day moving average price of $136.21.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced 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 company had revenue of $1 billion for the quarter, compared to analysts' expectations of $962.04 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. TTM Technologies's quarterly revenue was up 37.4% on a year-over-year basis. As a group, equities analysts predict that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Insider Transactions at TTM Technologies

In other news, EVP Shawn A. Powers sold 3,367 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $208.94, for a total transaction of $703,500.98. Following the sale, the executive vice president directly owned 120,801 shares in the company, valued at approximately $25,240,160.94. This represents a 2.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Douglas L. Soder sold 2,874 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $208.94, for a total transaction of $600,493.56. Following the completion of the transaction, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 108,241 shares of company stock worth $20,911,975. 1.30% of the stock is currently owned by corporate insiders.

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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