Principal Financial Group Inc. Cuts Stake in TTM Technologies, Inc. $TTMI

Key Points

• Principal Financial Group cut its stake in TTM Technologies by 49.8% in the first quarter, leaving it with 351,049 shares worth about $34.2 million.
• Several TTM Technologies insiders sold shares recently, including EVP Douglas L. Soder and SVP Dale Martin Knecht; insiders have sold 82,043 shares over the last 90 days.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $212, while the company also reported better-than-expected quarterly earnings and revenue.

Principal Financial Group Inc. cut its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 49.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 351,049 shares of the technology company's stock after selling 347,666 shares during the period. Principal Financial Group Inc. owned approximately 0.34% of TTM Technologies worth $34,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new stake in TTM Technologies in the fourth quarter worth about $30,000. Truvestments Capital LLC purchased a new position in shares of TTM Technologies during the 4th quarter valued at about $30,000. Rakuten Securities Inc. bought a new position in shares of TTM Technologies during the 4th quarter valued at approximately $32,000. Wolff Wiese Magana LLC purchased a new stake in TTM Technologies in the 4th quarter worth approximately $34,000. Finally, Danske Bank A S bought a new stake in TTM Technologies during the 4th quarter worth approximately $34,000. Institutional investors own 95.79% of the company's stock.

Insider Activity at TTM Technologies

In other TTM Technologies news, EVP Douglas L. Soder sold 8,902 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total transaction of $1,867,550.58. Following the completion of the transaction, the executive vice president owned 208,245 shares in the company, valued at $43,687,718.55. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Dale Martin Knecht sold 6,754 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 $1,416,921.66. Following the completion of the sale, the senior vice president directly owned 68,350 shares in the company, valued at approximately $14,339,146.50. The trade was a 8.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,043 shares of company stock valued at $17,191,859 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of TTM Technologies in a research report on Monday, May 18th. Truist Financial raised their price objective on shares of TTM Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Needham & Company LLC upped their target price on shares of TTM Technologies from $208.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Zacks Research lowered TTM Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, B. Riley Financial raised their price target on TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $212.00.

TTM Technologies Stock Performance

Shares of NASDAQ TTMI opened at $132.00 on Friday. The company has a market cap of $13.71 billion, a P/E ratio of 71.35 and a beta of 2.10. TTM Technologies, Inc. has a 52-week low of $39.20 and a 52-week high of $223.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 1.88. The firm's fifty day moving average is $176.01 and its two-hundred day moving average is $128.51.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. TTM Technologies had a net margin of 6.29% and a return on equity of 13.70%. The business had revenue of $845.98 million during the quarter, compared to the consensus estimate of $789.84 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The business's revenue was up 30.4% on a year-over-year basis. TTM Technologies has set its Q2 2026 guidance at 0.820-0.880 EPS. As a group, analysts anticipate that TTM Technologies, Inc. will post 3.66 EPS for the current fiscal year.

TTM Technologies Company 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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