Wesbanco Bank Inc. Reduces Stock Position in TTM Technologies, Inc. $TTMI

Key Points

• Wesbanco Bank Inc. reduced its stake in TTM Technologies, Inc. by 20.2%, owning 51,291 shares worth approximately $2,094,000 after selling 13,000 shares in the second quarter.
• TTM Technologies reported a 20.7% year-over-year increase in revenue, with earnings per share of $0.58 for the last quarter, surpassing estimates.
• Analysts have rated TTM Technologies with an average rating of "Buy", and significant price target increases, with B. Riley raising theirs from $36.00 to $50.00.

Wesbanco Bank Inc. lessened its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 20.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,291 shares of the technology company's stock after selling 13,000 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.05% of TTM Technologies worth $2,094,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TTMI. Goldman Sachs Group Inc. increased its position in shares of TTM Technologies by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock valued at $34,989,000 after purchasing an additional 115,766 shares during the last quarter. Nuveen LLC acquired a new stake in shares of TTM Technologies in the first quarter valued at $31,763,000. Emerald Advisers LLC grew its stake in TTM Technologies by 34.3% during the 1st 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 in the last quarter. Invesco Ltd. lifted its holdings in shares of TTM Technologies by 35.3% in the 1st quarter. Invesco Ltd. now owns 1,357,707 shares of the technology company's stock valued at $27,847,000 after purchasing an additional 354,342 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in TTM Technologies by 52.2% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 886,701 shares of the technology company's stock worth $18,186,000 after purchasing an additional 304,176 shares during the period. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI traded down $1.08 on Friday, hitting $51.76. The company had a trading volume of 1,150,118 shares, compared to its average volume of 1,376,580. The company has a current ratio of 2.03, a quick ratio of 1.72 and a debt-to-equity ratio of 0.56. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $53.94. The company has a market cap of $5.35 billion, a PE ratio of 57.41 and a beta of 1.57. The business has a 50 day moving average of $45.55 and a 200 day moving average of $33.80.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $730.62 million for the quarter, compared to analysts' expectations of $668.42 million. TTM Technologies had a return on equity of 11.80% and a net margin of 3.52%.The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. As a group, equities analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

TTMI has been the topic of a number of analyst reports. Truist Financial lifted their target price on TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Wall Street Zen raised shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. 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. B. Riley raised their price target on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus boosted their price objective on shares of TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, TTM Technologies has an average rating of "Buy" and an average target price of $52.25.

Insiders Place Their Bets

In other news, Director Wajid Ali purchased 5,000 shares of the business's stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $41.75 per share, with a total value of $208,750.00. Following the completion of the transaction, the director owned 19,024 shares of the company's stock, valued at $794,252. The trade was a 35.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dale Martin Knecht sold 7,487 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $39.01, for a total transaction of $292,067.87. Following the completion of the transaction, the senior vice president directly owned 59,947 shares of the company's stock, valued at approximately $2,338,532.47. This trade represents a 11.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,759 shares of company stock valued at $4,136,826 over the last three months. 1.30% of the stock is owned by corporate insiders.

TTM Technologies Profile

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.