California State Teachers Retirement System Has $11.66 Million Stock Position in TTM Technologies, Inc. $TTMI

Key Points

• California State Teachers Retirement System increased its TTM Technologies stake by 22% in the first quarter, holding 119,733 shares valued at approximately $11.66 million. Institutional investors and hedge funds collectively own 95.79% of the company.
• TTM Technologies insiders sold 82,043 shares worth about $17.19 million over the past 90 days, including sizable sales by two executives on June 23.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $212, despite the stock trading at $121.21 in the article.

California State Teachers Retirement System lifted its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 22.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,733 shares of the technology company's stock after purchasing an additional 21,622 shares during the quarter. California State Teachers Retirement System owned about 0.12% of TTM Technologies worth $11,664,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in TTM Technologies by 36.2% during the 1st 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 period. Signature Equity Partners LLC acquired a new stake in TTM Technologies in the first quarter valued at approximately $40,000. Kestra Advisory Services LLC bought a new stake in shares of TTM Technologies during the fourth quarter valued at approximately $30,000. Truvestments Capital LLC bought a new stake in shares of TTM Technologies during the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. acquired a new position in shares of TTM Technologies during the fourth quarter worth approximately $32,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TTM Technologies news, EVP Daniel J. Weber sold 8,533 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,790,223.40. Following the sale, the executive vice president owned 86,088 shares in the company, valued at $18,061,262.40. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dale Martin Knecht sold 6,754 shares of the firm's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total value of $1,416,921.66. Following the completion of the transaction, the senior vice president directly owned 68,350 shares of the company's stock, valued at $14,339,146.50. The trade was a 8.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 82,043 shares of company stock worth $17,191,859 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

TTM Technologies Price Performance

TTMI opened at $121.21 on Tuesday. The firm has a 50-day moving average price of $166.18 and a 200-day moving average price of $133.05. TTM Technologies, Inc. has a twelve month low of $39.20 and a twelve month high of $223.83. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 65.52 and a beta of 2.15.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TTMI. Zacks Research cut TTM Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Truist Financial raised their price objective 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. Needham & Company LLC lifted their price objective on shares of TTM Technologies from $208.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Stifel Nicolaus boosted their target price on shares of 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 cut shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, TTM Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $212.00.

TTM Technologies Company 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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