California State Teachers Retirement System Has $4.11 Billion Holdings in TTM Technologies, Inc. $TTMI

Key Points

• California State Teachers Retirement System increased its TTM Technologies stake by 18,244.6% to 21.96 million shares, worth approximately $4.11 billion and representing 20.85% of the company. Institutional investors collectively own 95.79% of TTMI.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $214.25; five analysts rated the stock Strong Buy or Buy, while one assigned a Hold.
• TTM Technologies exceeded quarterly expectations, reporting $0.99 in EPS versus $0.89 expected and $1.0 billion in revenue, up 37.4% year over year. Insiders sold $20.9 million of stock during the quarter, while the shares opened at $124.25 and have traded between $46.01 and $223.83 over the past year.

California State Teachers Retirement System raised its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 18,244.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,964,564 shares of the technology company's stock after acquiring an additional 21,844,831 shares during the quarter. California State Teachers Retirement System owned approximately 20.85% of TTM Technologies worth $4,107,813,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Royal Bank of Canada grew its position in TTM Technologies by 66.6% during the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company's stock valued at $543,000 after purchasing an additional 10,565 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in TTM Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company's stock worth $1,232,000 after buying an additional 2,632 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in TTM Technologies by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after buying an additional 115,766 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of TTM Technologies by 7.7% during the 1st 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 buying an additional 13,691 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of TTM Technologies by 1,150.2% during the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock valued at $2,869,000 after buying an additional 128,700 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. B. Riley Financial boosted their price target on shares of TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Truist Financial lifted their price objective on TTM Technologies from $215.00 to $224.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings downgraded TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 target price on shares of TTM Technologies in a research report on Tuesday, August 18th. Finally, Stifel Nicolaus upped their target price on TTM Technologies from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $214.25.

TTM Technologies Stock Performance

TTMI stock opened at $124.25 on Thursday. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 55.97 and a beta of 2.15. TTM Technologies, Inc. has a 12 month low of $46.01 and a 12 month high of $223.83. The firm has a 50 day moving average of $129.93 and a two-hundred day moving average of $138.43.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. During the same quarter last year, the firm earned $0.58 EPS. TTM Technologies's revenue for the quarter was up 37.4% on a year-over-year basis. As a group, equities analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Insider Activity at TTM Technologies

In other TTM Technologies news, SVP Dale Knecht sold 26,198 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the completion of the sale, the senior vice president owned 40,138 shares of the company's stock, valued at $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Shawn Powers sold 9,856 shares of the company's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total value of $2,067,788.80. Following the sale, the executive vice president owned 119,268 shares of the company's stock, valued at approximately $25,022,426.40. This trade represents a 7.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 108,241 shares of company stock valued at $20,911,975. 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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