Wellington Management Group LLP Has $424.24 Million Stock Position in TTM Technologies, Inc. $TTMI

Key Points

• Wellington Management increased its TTM Technologies stake by 61.9% in the second quarter, acquiring 867,255 additional shares. Its position totaled 2.27 million shares worth approximately $424.24 million, representing about 2.15% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $214.25. Truist and Needham raised or reaffirmed targets above $220, although some rating agencies recently downgraded the stock.
• TTM Technologies beat quarterly expectations with $0.99 in EPS versus $0.89 forecast and $1 billion in revenue, up 37.4% year over year. Shares opened at $118.65, well below the 12-month high of $223.83.

Wellington Management Group LLP increased its holdings in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 61.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,268,404 shares of the technology company's stock after acquiring an additional 867,255 shares during the period. Wellington Management Group LLP owned about 2.15% of TTM Technologies worth $424,237,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of TTM Technologies by 1.8% in the second quarter. GAMMA Investing LLC now owns 4,340 shares of the technology company's stock worth $812,000 after purchasing an additional 75 shares in the last quarter. Parallel Advisors LLC grew its position in TTM Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company's stock valued at $32,000 after purchasing an additional 87 shares in the last quarter. Lido Advisors LLC increased its stake in TTM Technologies by 1.5% in the 4th quarter. Lido Advisors LLC now owns 8,013 shares of the technology company's stock valued at $553,000 after buying an additional 116 shares during the period. GoalVest Advisory LLC increased its stake in TTM Technologies by 456.7% in the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company's stock valued at $31,000 after buying an additional 137 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in TTM Technologies by 4.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,289 shares of the technology company's stock worth $320,000 after buying an additional 142 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Daniel J. Weber sold 2,915 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $609,060.10. Following the transaction, the executive vice president owned 88,250 shares of the company's stock, valued at approximately $18,438,955. This represents a 3.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edwin Roks acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the purchase, the chief executive officer directly owned 64,814 shares in the company, valued at $7,244,260.78. This represents a 18.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 108,241 shares of company stock valued at $20,911,975. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TTMI has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Needham & Company LLC reissued a "buy" rating and set a $220.00 price objective on shares of TTM Technologies in a research report on Tuesday, August 18th. Weiss Ratings cut TTM Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Wall Street Zen downgraded TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, B. Riley Financial upped 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 assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $214.25.

TTM Technologies Stock Performance

Shares of TTMI opened at $118.65 on Friday. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 53.45 and a beta of 2.14. The company's fifty day moving average is $142.53 and its 200-day moving average is $136.58. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. TTM Technologies, Inc. has a 12 month low of $42.69 and a 12 month high of $223.83.

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

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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