Paradigm Capital Management Inc. NY Takes Position in TTM Technologies, Inc. $TTMI

Key Points

• Paradigm Capital Management initiated a 43,500-share position in TTM Technologies during the second quarter, valued at approximately $8.1 million. Institutional investors collectively own 95.79% of the company.
• TTM Technologies reported strong quarterly results, with earnings of $0.99 per share versus the $0.89 estimate and revenue of $1 billion, up 37.4% year over year.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and a $214.25 average price target, although insiders sold more than $20.9 million in shares over the past three months.

Paradigm Capital Management Inc. NY 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 13F filing with the Securities and Exchange Commission. The firm bought 43,500 shares of the technology company's stock, valued at approximately $8,135,000.

Several other large investors have also added to or reduced their stakes in TTMI. BlackRock Inc. purchased a new position in shares of TTM Technologies during the 2nd quarter valued at $2,053,347,000. Invesco Ltd. boosted its holdings in TTM Technologies by 3.5% in the 4th 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 period. Whale Rock Capital Management LLC increased its stake in TTM Technologies by 112.1% in the 4th 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 in the last quarter. Polar Capital Holdings Plc bought a new stake in TTM Technologies during the third quarter valued at about $176,376,000. Finally, Geode Capital Management LLC raised its holdings in TTM Technologies by 3.2% during the fourth 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 period. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, EVP Douglas L. Soder sold 8,902 shares of TTM Technologies stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total value of $1,867,550.58. Following the sale, the executive vice president owned 208,245 shares of the company's stock, valued at $43,687,718.55. The trade was a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Catherine A. Gridley sold 8,966 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total value of $1,881,066.80. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 108,241 shares of company stock worth $20,911,975 over the last three months. 1.30% of the stock is owned by company insiders.

TTM Technologies Stock Down 3.1%

Shares of TTMI stock opened at $107.12 on Tuesday. The company's fifty day simple moving average is $149.68 and its two-hundred day simple moving average is $136.21. TTM Technologies, Inc. has a 52 week low of $42.69 and a 52 week high of $223.83. The stock has a market cap of $11.29 billion, a P/E ratio of 48.25 and a beta of 2.15. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings data 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 return on equity of 15.67% and a net margin of 7.01%.The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $962.04 million. During the same quarter last year, the business posted $0.58 earnings per share. The business's quarterly revenue was up 37.4% compared to the same quarter last year. Analysts predict that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on TTMI. Weiss Ratings upgraded TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. B. Riley Financial increased their target price on TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Zacks Research raised TTM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Stifel Nicolaus boosted their price target on TTM Technologies from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Finally, Truist Financial upped their price target on TTM Technologies from $215.00 to $224.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price 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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