Navellier & Associates Inc. Has $14.26 Million Stock Holdings in TTM Technologies, Inc. $TTMI

Key Points

• Navellier & Associates increased its TTM Technologies position by 32.3% in the second quarter, owning 76,230 shares valued at approximately $14.26 million. Institutional investors collectively hold 95.79% of the company’s stock.
• TTM Technologies executives sold shares worth approximately $20.9 million over the past 90 days, including two executive vice presidents who sold shares on June 23.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $214.25. TTM also exceeded quarterly expectations, reporting $0.99 in EPS versus the $0.89 consensus and revenue of $1 billion, up 37.4% year over year.

Navellier & Associates Inc. grew its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 32.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,230 shares of the technology company's stock after acquiring an additional 18,617 shares during the quarter. TTM Technologies accounts for about 1.1% of Navellier & Associates Inc.'s holdings, making the stock its 16th largest position. Navellier & Associates Inc. owned 0.07% of TTM Technologies worth $14,257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TTMI. Harbor Investment Advisory LLC acquired a new position in TTM Technologies in the second quarter worth about $29,000. Kestra Advisory Services LLC acquired a new stake in TTM Technologies during the fourth quarter valued at approximately $30,000. Truvestments Capital LLC acquired a new stake in TTM Technologies during the fourth quarter valued at approximately $30,000. GoalVest Advisory LLC grew its stake in shares of TTM Technologies by 456.7% in the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock valued at $31,000 after purchasing an additional 137 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of TTM Technologies by 36.2% in the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company's stock worth $32,000 after buying an additional 87 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

Insider Activity

In other news, EVP Shawn A. Powers sold 9,856 shares of TTM Technologies stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total value of $2,067,788.80. Following the completion of the sale, the executive vice president directly owned 119,268 shares of the company's stock, valued at approximately $25,022,426.40. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Catherine A. Gridley sold 8,966 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total value of $1,881,066.80. Following the transaction, the executive vice president directly owned 69,679 shares in the company, valued at $14,618,654.20. This trade represents a 11.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 108,241 shares of company stock worth $20,911,975. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Zacks Research raised TTM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Truist Financial increased their price objective on TTM Technologies from $215.00 to $224.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. B. Riley Financial lifted their price objective on TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Wall Street Zen raised shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 22nd. Finally, Stifel Nicolaus increased their target price 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. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $214.25.

TTM Technologies Price Performance

Shares of TTMI stock opened at $118.65 on Friday. TTM Technologies, Inc. has a 52 week low of $42.69 and a 52 week high of $223.83. The stock has a market capitalization of $12.50 billion, a PE ratio of 53.45 and a beta of 2.14. 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's fifty day moving average is $142.53 and its 200-day moving average is $136.58.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The firm's quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Equities research 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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