Expect Equity LLC Purchases Shares of 11,410 TTM Technologies, Inc. $TTMI

Key Points

• Expect Equity LLC purchased 11,410 shares of TTM Technologies during the second quarter, valued at approximately $2.13 million. Institutional investors collectively own 95.79% of the company.
• TTM Technologies exceeded quarterly expectations, reporting $0.99 in adjusted EPS versus the $0.89 consensus estimate and $1 billion in revenue, up 37.4% year over year.
• Analyst sentiment remains positive, with the stock receiving an average “Buy” rating and a $214.25 consensus price target, though insiders have sold more than $20.9 million of shares over the past 90 days.

Expect Equity LLC purchased a new stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,410 shares of the technology company's stock, valued at approximately $2,134,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in TTM Technologies during the 2nd quarter worth about $2,053,347,000. Rokos Capital Management LLP purchased a new stake in TTM Technologies during the first quarter worth about $13,031,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of TTM Technologies by 97.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company's stock worth $19,270,000 after purchasing an additional 97,799 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of TTM Technologies during the fourth quarter worth about $668,000. Finally, Renaissance Technologies LLC purchased a new position in shares of TTM Technologies in the first quarter valued at approximately $36,130,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Buying and Selling at TTM Technologies

In other news, EVP Shawn A. Powers sold 3,367 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $703,500.98. Following the completion of the transaction, the executive vice president owned 120,801 shares in the company, valued at approximately $25,240,160.94. This represents a 2.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Douglas L. Soder sold 2,874 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total transaction of $600,493.56. Following the completion of the transaction, the executive vice president directly owned 210,634 shares in the company, valued at $44,009,867.96. This trade represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 108,241 shares of company stock worth $20,911,975. 1.30% of the stock is owned by insiders.

TTM Technologies Price Performance

Shares of NASDAQ TTMI opened at $112.30 on Wednesday. The stock's 50-day simple moving average is $147.94 and its 200-day simple moving average is $136.32. The firm has a market capitalization of $11.83 billion, a PE ratio of 50.59 and a beta of 2.15. TTM Technologies, Inc. has a fifty-two week low of $42.69 and a fifty-two week high of $223.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Truist Financial raised their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. B. Riley Financial boosted their price target on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Weiss Ratings upgraded TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Finally, Zacks Research raised TTM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $214.25.

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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