Bank of America Corp DE Has $61.97 Million Stock Holdings in TTM Technologies, Inc. $TTMI

Key Points

• Bank of America increased its TTM Technologies stake by 6.5% in the first quarter, holding 636,152 shares valued at approximately $61.97 million. Institutional investors and hedge funds collectively own 95.79% of the company.
• Analysts remain generally bullish: five rate TTM Technologies as a Buy and one as a Hold, producing a “Moderate Buy” consensus and an average price target of $214.25.
• TTM Technologies exceeded quarterly expectations, reporting $0.99 in earnings per share versus the $0.89 consensus and $1 billion in revenue, up 37.4% year over year. Meanwhile, insiders sold 108,241 shares worth about $20.9 million during the latest quarter.

Bank of America Corp DE boosted its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 636,152 shares of the technology company's stock after acquiring an additional 38,710 shares during the period. Bank of America Corp DE owned 0.61% of TTM Technologies worth $61,974,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new position in TTM Technologies during the 4th quarter valued at about $30,000. Truvestments Capital LLC acquired a new stake in shares of TTM Technologies during the 4th quarter worth approximately $30,000. Rakuten Securities Inc. bought a new stake in shares of TTM Technologies during the fourth quarter worth approximately $32,000. Parallel Advisors LLC raised its stake in shares of TTM Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company's stock worth $32,000 after buying an additional 87 shares during the last quarter. Finally, Danske Bank A S acquired a new position in TTM Technologies in the fourth quarter valued at approximately $34,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on TTMI shares. Truist Financial raised 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. Needham & Company LLC upped their target price on shares of TTM Technologies from $208.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. B. Riley Financial increased their price target on TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Stifel Nicolaus raised their price target on TTM Technologies from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, Weiss Ratings raised TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $214.25.

TTM Technologies Price Performance

TTMI opened at $130.08 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. TTM Technologies, Inc. has a 12 month low of $39.20 and a 12 month high of $223.83. The company has a fifty day simple moving average of $161.11 and a 200 day simple moving average of $134.25. The stock has a market cap of $13.70 billion, a P/E ratio of 58.59 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its 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 return on equity of 15.67% and a net margin of 7.01%.The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $962.04 million. During the same period in the previous year, the company posted $0.58 earnings per share. The company's revenue for the quarter was up 37.4% on a year-over-year basis. On average, research analysts expect that TTM Technologies, Inc. will post 3.63 EPS for the current year.

Insider Buying and Selling at TTM Technologies

In related news, EVP Catherine A. Gridley sold 3,056 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 $638,520.64. Following the completion of the sale, the executive vice president directly owned 71,866 shares of the company's stock, valued at approximately $15,015,682.04. This represents a 4.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shawn A. Powers sold 3,367 shares of TTM Technologies stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total transaction of $703,500.98. Following the completion of the transaction, the executive vice president directly owned 120,801 shares in the company, valued at approximately $25,240,160.94. The trade was a 2.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 108,241 shares of company stock worth $20,911,975 in the last quarter. Company insiders own 1.30% of the company's stock.

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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