TTM Technologies, Inc. $TTMI Holdings Raised by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its TTM Technologies stake by 91.4% in the first quarter, adding 47,646 shares to own 99,777 shares worth approximately $9.72 million. Institutional investors and hedge funds collectively own 95.79% of the company.
• Analyst sentiment remains positive, with four Buy ratings and two Hold ratings, producing a “Moderate Buy” consensus and an average price target of $212. Several firms recently raised their targets, including Needham to $220 and Truist to $215.
• TTM executives sold shares while institutional ownership rose: insiders sold 82,043 shares worth about $17.2 million over the past 90 days. The stock has a $12.59 billion market capitalization and trades at a price-to-earnings ratio of 65.52.

The Manufacturers Life Insurance Company increased its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 91.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,777 shares of the technology company's stock after acquiring an additional 47,646 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of TTM Technologies worth $9,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its position 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 purchasing an additional 166,188 shares during the last quarter. Whale Rock Capital Management LLC grew its stake in shares of 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 valued at $295,066,000 after buying an additional 2,260,035 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in shares of TTM Technologies in the 3rd quarter valued at approximately $176,376,000. Geode Capital Management LLC increased its holdings in TTM Technologies by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company's stock worth $184,119,000 after buying an additional 81,588 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in TTM Technologies by 22.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,237,627 shares of the technology company's stock valued at $154,396,000 after acquiring an additional 406,202 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

TTM Technologies Trading Up 5.0%

NASDAQ:TTMI opened at $121.21 on Tuesday. TTM Technologies, Inc. has a 12 month low of $39.20 and a 12 month high of $223.83. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 65.52 and a beta of 2.15. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 0.50. The company's 50 day moving average is $166.18 and its 200-day moving average is $133.05.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC boosted their target price on shares of TTM Technologies from $208.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Truist Financial raised their price target on shares of TTM Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Zacks Research lowered shares of TTM Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. 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. Finally, Weiss Ratings downgraded shares of TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, TTM Technologies has a consensus rating of "Moderate Buy" and an average price target of $212.00.

Insiders Place Their Bets

In other TTM Technologies news, EVP Daniel J. Weber sold 8,533 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $1,790,223.40. Following the completion of the sale, the executive vice president directly owned 86,088 shares in the company, valued at $18,061,262.40. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shawn A. Powers sold 9,856 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were 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 in the company, valued at approximately $25,022,426.40. This represents a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,043 shares of company stock worth $17,191,859 in the last ninety days. 1.30% of the stock is owned by insiders.

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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