Magnetar Financial LLC Takes $264,000 Position in TTM Technologies, Inc. $TTMI

Key Points

• Magnetar Financial LLC has invested approximately $264,000 in TTM Technologies, acquiring 12,848 shares during the first quarter.
• TTM Technologies' recent quarterly earnings report showed earnings per share of $0.58, exceeding estimates and marking a 20.7% increase in revenue year-over-year.
• The company initiated a $100 million share buyback plan, indicating that the board believes the stock is undervalued.

Magnetar Financial LLC purchased a new position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,848 shares of the technology company's stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTMI. Trexquant Investment LP raised its position in shares of TTM Technologies by 41.3% in the 1st quarter. Trexquant Investment LP now owns 201,075 shares of the technology company's stock worth $4,124,000 after acquiring an additional 58,743 shares in the last quarter. Brant Point Investment Management LLC bought a new position in shares of TTM Technologies in the 1st quarter worth $4,541,000. Walleye Capital LLC bought a new stake in TTM Technologies during the 1st quarter worth approximately $2,904,000. Jump Financial LLC boosted its position in shares of TTM Technologies by 419.1% during the first quarter. Jump Financial LLC now owns 73,336 shares of the technology company's stock valued at $1,504,000 after buying an additional 59,209 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of TTM Technologies by 891.3% during the first quarter. AlphaQuest LLC now owns 22,660 shares of the technology company's stock valued at $465,000 after buying an additional 20,374 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Analyst Upgrades and Downgrades

TTMI has been the topic of several analyst reports. Wall Street Zen cut TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price target on shares of TTM Technologies in a research report on Friday, August 15th. B. Riley upped their price objective on TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Truist Financial upped their price objective on TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Stifel Nicolaus upped their price objective on TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $52.25.

Insiders Place Their Bets

In other news, EVP Catherine A. Gridley sold 25,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $40.46, for a total transaction of $1,011,500.00. Following the transaction, the executive vice president directly owned 101,986 shares of the company's stock, valued at approximately $4,126,353.56. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Philip Titterton sold 23,486 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $36.39, for a total value of $854,655.54. Following the sale, the chief operating officer directly owned 123,338 shares of the company's stock, valued at approximately $4,488,269.82. This trade represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,759 shares of company stock worth $4,136,826. 1.30% of the stock is owned by corporate insiders.

TTM Technologies Price Performance

Shares of TTM Technologies stock traded down $0.52 during trading on Monday, hitting $47.19. The stock had a trading volume of 388,864 shares, compared to its average volume of 1,326,387. The company has a current ratio of 2.03, a quick ratio of 1.72 and a debt-to-equity ratio of 0.56. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $51.15. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 52.34 and a beta of 1.57. The business's 50-day moving average is $44.43 and its 200 day moving average is $32.38.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The business had revenue of $730.62 million during the quarter, compared to analysts' expectations of $668.42 million. During the same quarter in the previous year, the company earned $0.39 EPS. The business's quarterly revenue was up 20.7% compared to the same quarter last year. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. As a group, sell-side analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies Company Profile

TTM Technologies, Inc, together with its subsidiaries, manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments, PCB and RF&S Components. It offers range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, IC substrates, passive RF components, advanced ceramic RF components, hi-reliability multi-chip modules, beamforming and switching networks, PCB products, RF components, and backplane/custom assembly solutions, including conventional PCBs.