Jupiter Topco LLC Makes New Investment in TTM Technologies, Inc. $TTMI

Key Points

• Jupiter Topco acquired 44,773 shares of TTM Technologies worth approximately $8.4 million, while institutional investors and hedge funds collectively own 95.79% of the company.
• TTM Technologies reported quarterly earnings of $0.99 per share, exceeding estimates of $0.89, while revenue rose 37.4% year over year to $1 billion.
• Analysts maintain a consensus “Buy” rating with an average price target of $214.25, although some ratings were recently downgraded; CEO Edwin Roks also purchased 10,000 shares.

Jupiter Topco LLC acquired 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 disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,773 shares of the technology company's stock, valued at approximately $8,374,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of TTM Technologies in the 2nd quarter valued at $2,053,347,000. Invesco Ltd. boosted its holdings in TTM Technologies by 3.5% during the fourth quarter. Invesco Ltd. now owns 4,980,091 shares of the technology company's stock worth $343,626,000 after buying an additional 166,188 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in TTM Technologies by 112.1% during the fourth quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company's stock worth $295,066,000 after buying an additional 2,260,035 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in shares of TTM Technologies during the 3rd quarter worth about $176,376,000. Finally, Geode Capital Management LLC increased its stake in shares of TTM Technologies by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company's stock valued at $184,119,000 after acquiring an additional 81,588 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

TTM Technologies Stock Performance

Shares of TTMI stock opened at $118.65 on Monday. 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, Inc. has a 52 week low of $42.69 and a 52 week high of $223.83. The company's 50 day moving average price is $142.53 and its two-hundred day moving average price is $136.85. The company has a market capitalization of $12.50 billion, a P/E ratio of 53.45 and a beta of 2.15.

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

Analysts Set New Price Targets

TTMI has been the topic of several recent analyst reports. Weiss Ratings lowered shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Wall Street Zen lowered shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday. Stifel Nicolaus lifted their price target 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 reissued a "buy" rating and issued a $220.00 price target on shares of TTM Technologies in a report on Tuesday, August 18th. Finally, Zacks Research upgraded shares of TTM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, TTM Technologies currently has an average rating of "Buy" and a consensus target price of $214.25.

Insider Transactions at TTM Technologies

In other news, CEO Edwin Roks acquired 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the acquisition, the chief executive officer owned 64,814 shares in the company, valued at $7,244,260.78. This represents a 18.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel J. Weber sold 2,915 shares of TTM Technologies stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $609,060.10. Following the completion of the sale, the executive vice president directly owned 88,250 shares in the company, valued at approximately $18,438,955. This represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 108,241 shares of company stock worth $20,911,975. 1.30% of the stock is currently owned by company insiders.

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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