Connor Clark & Lunn Investment Management Ltd. Takes Position in TTM Technologies, Inc. $TTMI

Key Points

• Connor Clark & Lunn Investment Management acquired 43,484 TTM Technologies shares worth approximately $8.1 million. Institutional investors and hedge funds now own 95.79% of the company.
• TTM reported strong quarterly results, with revenue rising 37.4% year over year to about $1 billion and EPS of $0.99, exceeding analyst estimates. AI-driven data-center demand is boosting sales, margins and backlog.
• Analysts maintain a bullish outlook, with a consensus “Buy” rating and average price target of $214.25. However, several company insiders have sold shares recently, providing a counterpoint to the positive institutional and operating trends.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 43,484 shares of the technology company's stock, valued at approximately $8,132,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of TTM Technologies in the 2nd quarter valued at $2,053,347,000. Polar Capital Holdings Plc acquired a new stake in TTM Technologies in the third quarter valued at about $176,376,000. Invesco Ltd. grew 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 acquiring an additional 2,699,494 shares during the last quarter. Whale Rock Capital Management LLC grew 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 acquiring an additional 2,260,035 shares during the last quarter. Finally, Castle Hook Partners LP acquired a new position in TTM Technologies during the fourth quarter worth about $133,351,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

TTM Technologies News Roundup

Here are the key news stories impacting TTM Technologies this week:

• Positive Sentiment: AI data-center demand is strengthening the commercial business. TTM’s AI-driven data-center surge is improving Commercial segment sales, margins and backlog, while next-generation N+M printed-circuit-board revenue is expected to ramp in the second half of 2026. Can TTMI's AI Data-Center Boom Reshape Its Commercial Business?
• Positive Sentiment: Management highlighted record growth on its earnings call. The update reinforces the view that demand from computing, communications and defense customers is translating into stronger bookings and future revenue visibility. TTM Technologies’ Earnings Call Highlights Record Growth
• Positive Sentiment: CEO Edwin Roks purchased 10,000 shares for approximately $1.12 million. The open-market purchase increased his direct stake by about 18%, a signal of management confidence in TTM’s outlook. TTM Technologies CEO Edwin Roks Buys 10,000 Shares
• Positive Sentiment: Recent earnings support the bullish narrative. TTM previously exceeded EPS and revenue expectations, with revenue up 37.4% year over year, while analysts maintain a consensus “Buy” rating and targets above the current trading level.
• Neutral Sentiment: Short-interest data offers little explanatory value. Reported short interest was zero, suggesting the move is not being driven by a conventional short squeeze, although the figure may reflect a reporting-data issue.
• Negative Sentiment: The CFO sold nearly 5,900 shares worth about $660,500. The sale represented roughly 8% of the CFO’s prior stake and may temper the positive insider-buying signal. Investors are also watching the cost and execution risks associated with the company’s planned acquisition. TTM Technologies CFO Sells Nearly 6,000 Shares

Analysts Set New Price Targets

A number of research firms recently issued reports on TTMI. Stifel Nicolaus upped their price objective 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. Needham & Company LLC restated a "buy" rating and issued a $220.00 target price on shares of TTM Technologies in a research report on Tuesday, August 18th. Zacks Research raised shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 22nd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $214.25.

Insiders Place Their Bets

In other TTM Technologies news, SVP Dale Martin Knecht sold 26,198 shares of the business's stock in a transaction on 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 transaction, the senior vice president owned 40,138 shares of the company's stock, valued at approximately $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Douglas L. Soder sold 8,902 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $209.79, for a total transaction of $1,867,550.58. Following the completion of the transaction, the executive vice president owned 208,245 shares in the company, valued at approximately $43,687,718.55. The trade was a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 108,241 shares of company stock worth $20,911,975 in the last 90 days. Company insiders own 1.30% of the company's stock.

TTM Technologies Stock Up 8.4%

Shares of TTM Technologies stock opened at $121.70 on Thursday. TTM Technologies, Inc. has a one year low of $42.69 and a one year high of $223.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. The stock's 50-day moving average is $146.32 and its 200 day moving average is $136.52. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 54.82 and a beta of 2.14.

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

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.

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.

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