VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in TTM Technologies, Inc. $TTMI

Key Points

• Virginia Retirement Systems acquired 19,600 shares of TTM Technologies during the second quarter, valued at approximately $3.7 million. Institutional investors collectively own 95.79% of the company.
• 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.
• Shares recently traded at $124.25, down 3.9%. Analysts maintain a consensus “Buy” rating with an average price target of $214.25, though insiders have sold more shares than they purchased over the past three months.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,600 shares of the technology company's stock, valued at approximately $3,666,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new stake in TTM Technologies during the second quarter worth $29,000. Kestra Advisory Services LLC acquired a new position in shares of TTM Technologies in the 4th quarter valued at $30,000. Truvestments Capital LLC acquired a new position in shares of TTM Technologies in the 4th quarter valued at $30,000. GoalVest Advisory LLC lifted its holdings in shares of TTM Technologies by 456.7% during the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock worth $31,000 after acquiring an additional 137 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of TTM Technologies by 36.2% during the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company's stock worth $32,000 after acquiring an additional 87 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Insider Activity

In other TTM Technologies news, EVP Daniel Weber sold 2,915 shares of TTM Technologies stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $609,060.10. Following the completion of the transaction, the executive vice president owned 88,250 shares in the company, valued at approximately $18,438,955. The trade was a 3.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edwin Roks acquired 10,000 shares of TTM Technologies stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the purchase, the chief executive officer owned 64,814 shares of the company's stock, valued at approximately $7,244,260.78. This represents a 18.24% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 108,241 shares of company stock worth $20,911,975. 1.30% of the stock is currently owned by insiders.

TTM Technologies Trading Down 3.9%

Shares of TTMI stock opened at $124.25 on Thursday. The company has a market capitalization of $13.09 billion, a P/E ratio of 55.97 and a beta of 2.15. TTM Technologies, Inc. has a 12-month low of $46.01 and a 12-month high of $223.83. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $129.93 and a 200 day moving average price of $138.43.

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

Analyst Ratings Changes

A number of analysts recently weighed in on TTMI shares. Needham & Company LLC reissued a "buy" rating and issued a $220.00 target price on shares of TTM Technologies in a research note on Tuesday, August 18th. Weiss Ratings downgraded TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Stifel Nicolaus upped their price objective on TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Zacks Research raised TTM Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Finally, B. Riley Financial raised their target price on TTM Technologies from $182.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $214.25.

About TTM Technologies

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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