Walleye Capital LLC Buys New Shares in TTM Technologies, Inc. $TTMI

Key Points

• Walleye Capital LLC has invested approximately $2.9 million in TTM Technologies, acquiring 141,595 shares in the first quarter of 2023, now holding about 0.14% of the company's stock.
• Multiple hedge funds have significantly increased their positions in TTM Technologies, with notable increases including Jump Financial (419.1%) and AlphaQuest LLC (891.3%) during the same period.
• Analysts offer a positive outlook for TTM Technologies, with several raising their price targets, and an average consensus rating of "Buy" with a target price of $52.25.

Walleye Capital LLC acquired a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 141,595 shares of the technology company's stock, valued at approximately $2,904,000. Walleye Capital LLC owned 0.14% of TTM Technologies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its stake in TTM Technologies by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock worth $345,000 after acquiring an additional 555 shares during the period. New York State Teachers Retirement System raised its stake in TTM Technologies by 0.5% during the first quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock worth $2,268,000 after acquiring an additional 567 shares during the period. CWM LLC raised its stake in TTM Technologies by 14.4% during the first quarter. CWM LLC now owns 4,501 shares of the technology company's stock worth $92,000 after acquiring an additional 567 shares during the period. Envestnet Asset Management Inc. raised its stake in TTM Technologies by 3.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,797 shares of the technology company's stock worth $490,000 after acquiring an additional 602 shares during the period. Finally, USA Financial Formulas raised its stake in TTM Technologies by 119.1% during the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock worth $46,000 after acquiring an additional 1,216 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

Insiders Place Their Bets

In other TTM Technologies news, Director Wajid Ali bought 5,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $41.75 per share, with a total value of $208,750.00. Following the completion of the purchase, the director directly owned 19,024 shares in the company, valued at approximately $794,252. This trade represents a 35.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Tom Clapprood sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.68, for a total transaction of $670,200.00. Following the sale, the insider directly owned 23,531 shares of the company's stock, valued at approximately $1,051,365.08. This represents a 38.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,561 shares of company stock valued at $4,437,320. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

TTM Technologies Price Performance

Shares of TTM Technologies stock traded down $2.33 on Friday, hitting $44.57. The company had a trading volume of 1,513,766 shares, compared to its average volume of 2,254,877. The business has a 50-day simple moving average of $43.72 and a 200-day simple moving average of $31.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 1.72. The company has a market cap of $4.60 billion, a PE ratio of 49.52 and a beta of 1.48. TTM Technologies, Inc. has a 52 week low of $15.77 and a 52 week high of $51.15.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $730.62 million during the quarter, compared to analysts' expectations of $668.42 million. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The business's revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. Research analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies announced that its board has approved a stock repurchase plan on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.