Legal & General Group Plc Acquires New Position in TTM Technologies, Inc. $TTMI

Key Points

• Legal & General Group Plc acquired 148,931 shares of TTM Technologies worth approximately $27.9 million, while institutional investors collectively own 95.79% of the company.
• TTM Technologies reported stronger-than-expected quarterly results, with EPS of $0.99 versus the $0.89 consensus estimate and revenue of $1 billion, up 37.4% year over year.
• Despite shares recently trading down 4.9% to $118.65, analysts maintain a consensus “Buy” rating with an average price target of $214.25.

Legal & General Group Plc bought a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 148,931 shares of the technology company's stock, valued at approximately $27,853,000. Legal & General Group Plc owned about 0.14% of TTM Technologies as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TTMI. The Manufacturers Life Insurance Company bought a new stake in shares of TTM Technologies in the 2nd quarter valued at approximately $13,563,000. Trajan Wealth LLC bought a new position in TTM Technologies during the second quarter worth $262,000. Manning & Napier Advisors LLC bought a new position in TTM Technologies during the second quarter worth $47,000. Paradigm Capital Management Inc. NY acquired a new position in TTM Technologies in the second quarter worth $8,135,000. Finally, Sanctuary Advisors LLC acquired a new position in TTM Technologies in the second quarter worth $586,000. Institutional investors and hedge funds own 95.79% of the company's stock.

TTM Technologies Trading Down 4.9%

Shares of NASDAQ:TTMI opened at $118.65 on Friday. 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 quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The company has a market cap of $12.50 billion, a PE ratio of 53.45 and a beta of 2.14. The company's 50-day moving average price is $142.53 and its 200 day moving average price 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 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. The company 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%. TTM Technologies's revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 earnings per share. Sell-side analysts anticipate that TTM Technologies, Inc. will post 4.26 earnings per share for the current year.

Wall Street Analyst Weigh In

TTMI has been the topic of a number of research reports. B. Riley Financial increased their target price on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Weiss Ratings lowered shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Stifel Nicolaus raised their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Zacks Research raised TTM Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $214.25.

Insider Transactions at TTM Technologies

In other TTM Technologies news, EVP Douglas L. Soder sold 2,874 shares of the business's stock in a transaction on Thursday, June 25th. The stock was 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 owned 210,634 shares in the company, valued at approximately $44,009,867.96. The trade was a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edwin Roks purchased 10,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were 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 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 108,241 shares of company stock worth $20,911,975 over the last quarter. Insiders own 1.30% of the company's stock.

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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