Mitsubishi UFJ Asset Management Co. Ltd. Invests $10.13 Million in TTM Technologies, Inc. $TTMI

Key Points

• Mitsubishi UFJ Asset Management purchased 54,171 shares of TTM Technologies worth approximately $10.13 million, acquiring a 0.05% stake. Institutional investors collectively own 95.79% of the company.
• TTM Technologies exceeded quarterly expectations, reporting $0.99 EPS versus the $0.89 consensus 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 consensus price target of $214.25; however, insiders sold more than 108,000 shares worth about $20.9 million over the last quarter.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 54,171 shares of the technology company's stock, valued at approximately $10,131,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of TTM Technologies as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TTMI. Harbor Investment Advisory LLC bought a new stake in shares of TTM Technologies during the second quarter valued at approximately $29,000. Kestra Advisory Services LLC bought a new position in TTM Technologies in the fourth quarter worth $30,000. Truvestments Capital LLC bought a new position in TTM Technologies in the fourth quarter worth $30,000. GoalVest Advisory LLC lifted its position in TTM Technologies by 456.7% during the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock valued at $31,000 after buying an additional 137 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in shares of TTM Technologies during the 4th quarter valued at $32,000. Institutional investors own 95.79% of the company's stock.

Insider Transactions at TTM Technologies

In other news, EVP Douglas L. Soder sold 2,874 shares of the business'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 $600,493.56. Following the transaction, the executive vice president owned 210,634 shares of the company's stock, valued at approximately $44,009,867.96. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shawn A. Powers sold 3,367 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 $703,500.98. Following the completion of the sale, the executive vice president owned 120,801 shares in the company, valued at approximately $25,240,160.94. The trade was a 2.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 108,241 shares of company stock valued at $20,911,975. Company insiders own 1.30% of the company's stock.

TTM Technologies Price Performance

TTMI opened at $114.38 on Friday. The company's 50-day simple moving average is $153.34 and its two-hundred day simple moving average is $136.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The stock has a market capitalization of $12.05 billion, a P/E ratio of 51.52 and a beta of 2.14. TTM Technologies, Inc. has a 52-week low of $39.66 and a 52-week high of $223.83.

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

Analyst Upgrades and Downgrades

TTMI has been the topic of a number of recent research reports. B. Riley Financial upped their target price on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Needham & Company LLC reissued a "buy" rating and set a $220.00 price objective on shares of TTM Technologies in a research note on Tuesday. Weiss Ratings upgraded shares of TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Wall Street Zen raised shares of TTM Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus lifted their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, TTM Technologies has an average rating of "Buy" and a consensus price target of $214.25.

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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