Arrowstreet Capital Limited Partnership Sells 27,997 Shares of TTM Technologies, Inc. $TTMI

Key Points

• Arrowstreet Capital reduced its TTM Technologies position by 1.3% in Q1, selling 27,997 shares and ending with 2.21 million shares valued at about $215.3 million.
• TTM Technologies’ latest earnings beat expectations, with Q1 EPS of $0.75 versus $0.66 expected and revenue of $845.98 million, up 30.4% year over year.
• Analyst sentiment remains mostly positive, with a consensus rating of Moderate Buy and an average price target of $212, even as a few firms recently issued downgrades or mixed rating changes.

Arrowstreet Capital Limited Partnership trimmed its stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,209,630 shares of the technology company's stock after selling 27,997 shares during the period. Arrowstreet Capital Limited Partnership owned about 2.13% of TTM Technologies worth $215,262,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Polar Capital Holdings Plc acquired a new stake in shares of TTM Technologies during the 3rd quarter worth about $176,376,000. Invesco Ltd. boosted its position in TTM Technologies by 127.7% in the third quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company's stock valued at $277,281,000 after buying an additional 2,699,494 shares in the last quarter. Whale Rock Capital Management LLC boosted its position in TTM Technologies by 112.1% in the fourth quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company's stock valued at $295,066,000 after buying an additional 2,260,035 shares in the last quarter. Castle Hook Partners LP bought a new stake in TTM Technologies during the fourth quarter worth about $133,351,000. Finally, JPMorgan Chase & Co. grew its stake in TTM Technologies by 230.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,361,872 shares of the technology company's stock worth $93,969,000 after buying an additional 949,171 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TTMI shares. Truist Financial lifted their target price on shares of TTM Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Weiss Ratings lowered TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. B. Riley Financial raised their price target on TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Zacks Research downgraded TTM Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Needham & Company LLC boosted their price objective on TTM Technologies from $208.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.00.

TTM Technologies Stock Performance

TTM Technologies stock opened at $131.41 on Friday. The company has a market cap of $13.65 billion, a PE ratio of 71.03 and a beta of 2.10. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. TTM Technologies, Inc. has a 1 year low of $39.20 and a 1 year high of $223.83. The company's 50-day moving average is $173.34 and its two-hundred day moving average is $130.96.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. TTM Technologies had a net margin of 6.29% and a return on equity of 13.70%. The company had revenue of $845.98 million during the quarter, compared to analysts' expectations of $789.84 million. During the same quarter in the previous year, the company earned $0.50 EPS. TTM Technologies's revenue was up 30.4% on a year-over-year basis. TTM Technologies has set its Q2 2026 guidance at 0.820-0.880 EPS. Equities analysts anticipate that TTM Technologies, Inc. will post 3.66 earnings per share for the current year.

Insider Activity at TTM Technologies

In other news, insider Robert P. Farrell sold 1,304 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.92, for a total value of $272,431.68. Following the transaction, the insider owned 16,995 shares of the company's stock, valued at $3,550,595.40. This represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Douglas L. Soder sold 2,874 shares of TTM Technologies stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $600,493.56. Following the sale, the executive vice president directly owned 210,634 shares of the company's stock, valued at approximately $44,009,867.96. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 82,043 shares of company stock worth $17,191,859. 1.30% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.