Public Employees Retirement System of Ohio Makes New Investment in TTM Technologies, Inc. $TTMI

Key Points

• Public Employees Retirement System of Ohio bought 30,724 TTM Technologies shares worth approximately $5.75 million in the second quarter. Institutional investors collectively own 95.79% of the company, with BlackRock and Whale Rock among notable holders.
• TTM Technologies reported quarterly earnings of $0.99 per share, beating estimates of $0.89, while revenue rose 37.4% year over year to approximately $1 billion. Analysts expect full-year earnings of $4.26 per share.
• Analysts maintain a consensus “Buy” rating with an average price target of $214.25, although ratings range from “Strong Buy” to “Hold.” CEO Edwin Roks purchased 10,000 shares, while insiders sold 108,241 shares worth roughly $20.9 million over the past 90 days.

Public Employees Retirement System of Ohio bought a new stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,724 shares of the technology company's stock, valued at approximately $5,746,000.

Several other institutional investors also recently added to or reduced their stakes in TTMI. BlackRock Inc. bought a new position in TTM Technologies in the 2nd quarter worth about $2,053,347,000. Invesco Ltd. raised its stake in shares of TTM Technologies by 3.5% during the fourth quarter. Invesco Ltd. now owns 4,980,091 shares of the technology company's stock valued at $343,626,000 after acquiring an additional 166,188 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of TTM Technologies by 112.1% in the fourth quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company's stock valued at $295,066,000 after purchasing an additional 2,260,035 shares during the period. Polar Capital Holdings Plc bought a new position in TTM Technologies in the third quarter worth approximately $176,376,000. Finally, Geode Capital Management LLC increased its holdings in TTM Technologies by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company's stock worth $184,119,000 after purchasing an additional 81,588 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Stock Up 0.2%

Shares of TTMI stock opened at $115.60 on Thursday. The stock's fifty day moving average price is $136.64 and its 200 day moving average price is $137.36. TTM Technologies, Inc. has a 1-year low of $45.10 and a 1-year high of $223.83. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 52.07 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54.

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

Insider Transactions at TTM Technologies

In other TTM Technologies news, EVP Catherine A. Gridley sold 8,966 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the transaction, the executive vice president owned 69,679 shares in the company, valued at approximately $14,618,654.20. This represents a 11.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edwin Roks purchased 10,000 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were bought at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the purchase, the chief executive officer directly owned 64,814 shares in the company, valued at $7,244,260.78. This represents a 18.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 108,241 shares of company stock worth $20,911,975 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Zacks Research raised TTM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Weiss Ratings cut shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Truist Financial boosted their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Stifel Nicolaus increased their price objective on shares of TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Finally, Needham & Company LLC reissued a "buy" rating and set a $220.00 price objective on shares of TTM Technologies in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, TTM Technologies currently has a consensus rating of "Buy" and an average target price of $214.25.

TTM Technologies 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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