Deltec Asset Management LLC Purchases 57,570 Shares of TTM Technologies, Inc. $TTMI

Key Points

• Deltec Asset Management acquired 57,570 TTM Technologies shares worth approximately $7.1 million, giving the fund a 0.05% stake and making TTM its 23rd-largest holding. Institutional investors collectively own 95.79% of the company.
• TTM reported strong third-quarter results, with revenue up nearly 60% year over year to $1.20 billion and EPS of $1.46, exceeding estimates. Management projected fourth-quarter revenue of $1.42 billion to $1.44 billion, supported by a 2.13 book-to-bill ratio and a $2.0 billion aerospace and defense backlog.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $173.25, although Stifel and Needham recently reduced their targets. The stock remains volatile, with reported insider selling and a fraud investigation adding potential risks.

Deltec Asset Management LLC acquired a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 57,570 shares of the technology company's stock, valued at approximately $7,072,000. TTM Technologies accounts for 1.1% of Deltec Asset Management LLC's investment portfolio, making the stock its 23rd biggest holding. Deltec Asset Management LLC owned about 0.05% of TTM Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of TTM Technologies during the 2nd quarter worth about $2,053,347,000. Wellington Management Group LLP boosted its holdings in shares of TTM Technologies by 61.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company's stock worth $424,237,000 after buying an additional 867,255 shares during the period. Atalan Capital Partners LP bought a new stake in shares of TTM Technologies during the 2nd quarter worth about $189,234,000. Bank of New York Mellon Corp acquired a new position in TTM Technologies in the 2nd quarter valued at about $114,470,000. Finally, Palestra Capital Management LLC acquired a new position in TTM Technologies in the 2nd quarter valued at about $105,214,000. 95.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TTMI has been the topic of several research analyst reports. Wall Street Zen raised shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings cut TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Stifel Nicolaus decreased their target price on TTM Technologies from $205.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday. Zacks Research downgraded TTM Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Finally, Needham & Company LLC lowered their target price on TTM Technologies from $175.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $173.25.

Trending Headlines about TTM Technologies

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

• Positive Sentiment: Record results and raised outlook: TTM reported third-quarter revenue of approximately $1.2 billion, up 60% year over year, with record adjusted EBITDA and non-GAAP earnings. Management forecast fourth-quarter revenue of $1.42 billion to $1.44 billion and non-GAAP EPS of $1.77 to $1.83. The company also cited a 2.13 book-to-bill ratio and a $2.0 billion aerospace and defense backlog, suggesting strong demand visibility. TTM Technologies Jumps as Investors Reassess Strong Q3 Beat and Outlook
• Positive Sentiment: AI and defense expansion: TTM is positioning for growth in artificial intelligence, aerospace and defense, supported by investments and acquisitions including the planned purchase of MKS’s Ophir optics business. These initiatives could broaden its exposure to high-growth technology and defense programs. TTM Technologies Bets Big on AI, Defense Growth
• Positive Sentiment: Bullish options activity: Traders purchased 10,816 call options, roughly 144% above typical daily call volume, indicating increased speculative interest in further gains.
• Neutral Sentiment: Post-earnings volatility continues: The stock’s rebound followed a sharp prior-session selloff as investors continued interpreting the earnings report and outlook. Elevated volume highlights heightened interest but also substantial short-term volatility. TTM Technologies climbs as volatile post-earnings trading continues
• Negative Sentiment: Legal and insider-selling risks: A law firm announced a fraud investigation for investors reporting significant losses. Separately, reported insider activity over the past six months was heavily weighted toward sales, despite some executive purchases, which may weigh on sentiment.

TTM Technologies Trading Up 6.7%

TTMI opened at $85.50 on Tuesday. The company has a 50-day simple moving average of $116.27 and a 200 day simple moving average of $127.26. TTM Technologies, Inc. has a twelve month low of $55.44 and a twelve month high of $223.83. The company has a quick ratio of 1.49, a current ratio of 1.67 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 34.06 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.21. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The firm's revenue for the quarter was up 59.9% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Analysts predict that TTM Technologies, Inc. will post 4.22 EPS for the current fiscal year.

Insider Buying and Selling at TTM Technologies

In related news, CEO Edwin Roks purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average cost of $111.77 per share, with a total value of $1,117,700.00. Following the acquisition, the chief executive officer owned 64,814 shares of the company's stock, valued at $7,244,260.78. This trade represents a 18.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Dale Knecht sold 26,198 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the transaction, the senior vice president owned 40,138 shares of the company's stock, valued at $5,699,596. This trade represents a 39.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is owned by corporate insiders.

TTM Technologies Profile

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.

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