Hsbc Holdings PLC Buys Shares of 15,298 TTM Technologies, Inc. $TTMI

Key Points

• HSBC Holdings purchased 15,298 shares of TTM Technologies valued at approximately $2.84 million, while institutional investors collectively own 95.79% of the company.
• Analysts maintain a generally positive outlook, with an average “Buy” rating and a consensus price target of $214.25, despite some recent downgrades.
• TTM Technologies exceeded quarterly expectations, reporting $0.99 EPS versus $0.89 expected and revenue of $1 billion, up 37.4% year over year; however, insiders have sold more than $20.9 million in stock over the past 90 days.

Hsbc Holdings PLC purchased a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,298 shares of the technology company's stock, valued at approximately $2,839,000.

A number of other institutional investors have also recently made changes to their positions in TTMI. GAMMA Investing LLC boosted its position in TTM Technologies by 1.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,340 shares of the technology company's stock valued at $812,000 after buying an additional 75 shares during the period. Parallel Advisors LLC raised its stake in shares of TTM Technologies by 36.2% in the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company's stock valued at $32,000 after acquiring an additional 87 shares in the last quarter. Lido Advisors LLC boosted its holdings in TTM Technologies by 1.5% in the fourth quarter. Lido Advisors LLC now owns 8,013 shares of the technology company's stock valued at $553,000 after purchasing an additional 116 shares during the period. GoalVest Advisory LLC grew its stake in TTM Technologies by 456.7% during the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in TTM Technologies by 4.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,289 shares of the technology company's stock worth $320,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Insider Activity

In other TTM Technologies news, EVP Douglas L. Soder sold 2,874 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 210,634 shares of the company's stock, valued at approximately $44,009,867.96. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel J. Weber sold 2,915 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $609,060.10. Following the sale, the executive vice president owned 88,250 shares of the company's stock, valued at $18,438,955. This represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 108,241 shares of company stock valued at $20,911,975 over the last 90 days. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TTMI. Truist Financial increased their price target on TTM Technologies from $215.00 to $224.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Zacks Research raised TTM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. 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. Weiss Ratings cut shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $214.25.

TTM Technologies Stock Down 4.9%

TTM Technologies stock opened at $118.65 on Friday. TTM Technologies, Inc. has a 1-year low of $42.69 and a 1-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 has a market cap of $12.50 billion, a PE ratio of 53.45 and a beta of 2.14. The stock's fifty day moving average is $142.53 and its two-hundred day moving average is $136.58.

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, topping analysts' consensus estimates of $0.89 by $0.10. The company 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%.TTM Technologies's revenue for the quarter was up 37.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. On average, sell-side analysts expect that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal 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.

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