Public Sector Pension Investment Board Raises Position in TTM Technologies, Inc. $TTMI

Key Points

• The Public Sector Pension Investment Board increased its stake in TTM Technologies by 27.3%, acquiring an additional 69,304 shares, bringing its total holdings to 323,402 shares worth approximately $6.6 million.
• Analysts are optimistic about TTM Technologies, with several reports indicating a buy rating and revisions to target prices, now averaging around $52.25.
• TTM Technologies reported a 20.7% increase in quarterly revenue year-over-year, generating $730.62 million, and exceeded earnings expectations with an EPS of $0.58.

Public Sector Pension Investment Board raised its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 27.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 323,402 shares of the technology company's stock after purchasing an additional 69,304 shares during the period. Public Sector Pension Investment Board owned 0.32% of TTM Technologies worth $6,633,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Northern Trust Corp increased its position in shares of TTM Technologies by 7.8% in the 4th quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company's stock valued at $28,700,000 after acquiring an additional 84,137 shares during the period. Principal Financial Group Inc. grew its stake in TTM Technologies by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 507,745 shares of the technology company's stock valued at $10,414,000 after purchasing an additional 13,299 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of TTM Technologies by 0.5% in the first quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock valued at $2,268,000 after purchasing an additional 567 shares during the period. GAMMA Investing LLC increased its holdings in shares of TTM Technologies by 2,396.2% in the first quarter. GAMMA Investing LLC now owns 50,947 shares of the technology company's stock valued at $1,045,000 after purchasing an additional 48,906 shares during the period. Finally, Emerald Advisers LLC raised its stake in shares of TTM Technologies by 34.3% in the first quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock worth $29,533,000 after purchasing an additional 367,798 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on TTMI. Stifel Nicolaus upped their target price on TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. B. Riley increased their price objective on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $56.00 target price on shares of TTM Technologies in a research report on Friday, August 15th. Finally, Truist Financial upped their price target on shares of TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a report on Monday, July 7th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $52.25.

TTM Technologies Stock Performance

TTM Technologies stock traded up $0.72 during midday trading on Thursday, hitting $40.78. 2,295,468 shares of the company were exchanged, compared to its average volume of 2,668,934. The business has a fifty day simple moving average of $42.73 and a two-hundred day simple moving average of $30.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.72 and a current ratio of 2.03. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $51.15. The firm has a market capitalization of $4.21 billion, a PE ratio of 45.31 and a beta of 1.48.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The business had revenue of $730.62 million for the quarter, compared to analyst estimates of $668.42 million. During the same period in the prior year, the company posted $0.39 EPS. The company's revenue for the quarter was up 20.7% on a year-over-year basis. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. On average, sell-side analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies announced that its board has approved a share repurchase program on Friday, May 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at TTM Technologies

In other news, SVP Dale Martin Knecht sold 7,487 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $39.01, for a total transaction of $292,067.87. Following the sale, the senior vice president directly owned 59,947 shares of the company's stock, valued at $2,338,532.47. This represents a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Spoto sold 3,484 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $46.58, for a total transaction of $162,284.72. Following the sale, the insider directly owned 28,649 shares in the company, valued at approximately $1,334,470.42. The trade was a 10.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,568 shares of company stock worth $3,708,900. 1.30% of the stock is currently owned by company insiders.

About TTM Technologies

TTM Technologies, Inc, together with its subsidiaries, manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments, PCB and RF&S Components. It offers range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, IC substrates, passive RF components, advanced ceramic RF components, hi-reliability multi-chip modules, beamforming and switching networks, PCB products, RF components, and backplane/custom assembly solutions, including conventional PCBs.