Deutsche Bank AG Invests $1.94 Million in TTM Technologies, Inc. $TTMI

Key Points

• Deutsche Bank acquired 10,357 shares of TTM Technologies in the second quarter, valued at approximately $1.94 million. Institutional investors and hedge funds collectively own 95.79% of the company.
• Analysts remain broadly positive, with TTM receiving an average “Buy” rating and a consensus price target of $214.25; several firms recently raised their targets, though Weiss Ratings downgraded the stock to “Hold.”
• TTM reported quarterly EPS of $0.99 versus the $0.89 consensus estimate, while revenue reached $1 billion, up 37.4% year over year. Shares opened at $118.65 after declining 4.9%, well below their 52-week high of $223.83.

Deutsche Bank AG bought a new stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,357 shares of the technology company's stock, valued at approximately $1,937,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of TTM Technologies by 66.6% during the 1st quarter. Royal Bank of Canada now owns 26,433 shares of the technology company's stock worth $543,000 after buying an additional 10,565 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 valued at $1,232,000 after buying an additional 2,632 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of TTM Technologies by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock valued at $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% in the first 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 in the last quarter. Finally, Jane Street Group LLC grew its holdings in TTM Technologies by 1,150.2% during the first quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock worth $2,869,000 after acquiring an additional 128,700 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TTM Technologies

In other TTM Technologies news, CEO Edwin Roks purchased 10,000 shares of TTM Technologies stock in a transaction on Tuesday, August 25th. The shares were bought at an average price of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the acquisition, the chief executive officer directly owned 64,814 shares of the company's stock, valued at approximately $7,244,260.78. This trade represents a 18.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas L. Soder sold 8,902 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 208,245 shares in the company, valued at $43,687,718.55. This represents a 4.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,241 shares of company stock valued at $20,911,975 in the last quarter. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TTMI has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their target price on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Zacks Research raised shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. B. Riley Financial raised their price objective on shares of TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Finally, Truist Financial boosted their price objective on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, TTM Technologies has an average rating of "Buy" and an average target price of $214.25.

TTM Technologies Trading Down 4.9%

Shares of TTMI stock opened at $118.65 on Friday. The stock has a market cap of $12.50 billion, a P/E ratio of 53.45 and a beta of 2.14. 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 fifty-two week low of $42.69 and a fifty-two week high of $223.83. The business has a fifty day simple moving average of $142.53 and a 200-day simple moving average of $136.58.

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

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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