Neumeier Poma Investment Counsel LLC Invests $45.68 Million in TTM Technologies, Inc. $TTMI

Neumeier Poma Investment Counsel LLC acquired a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 244,265 shares of the technology company’s stock, valued at approximately $45,682,440. TTM Technologies makes up 0.0% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 11th largest holding. Neumeier Poma Investment Counsel LLC owned 0.23% of TTM Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in TTM Technologies during the second quarter worth about $2,053,347,000. Rokos Capital Management LLP purchased a new position in TTM Technologies in the first quarter worth $13,031,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of TTM Technologies by 97.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock worth $19,270,000 after acquiring an additional 97,799 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of TTM Technologies during the 4th quarter valued at about $668,000. Finally, Renaissance Technologies LLC acquired a new stake in TTM Technologies in the 1st quarter valued at about $36,130,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

TTM Technologies Stock Down 4.5%

Shares of TTMI stock traded down $5.65 during trading on Friday, reaching $119.08. The company’s stock had a trading volume of 745,394 shares, compared to its average volume of 2,637,803. The company has a market capitalization of $12.55 billion, a price-to-earnings ratio of 53.64 and a beta of 2.14. TTM Technologies, Inc. has a 1-year low of $42.69 and a 1-year high of $223.83. The stock’s 50-day moving average price is $144.48 and its 200 day moving average price is $136.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The company’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 EPS. On average, research analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TTMI. B. Riley Financial upped their price objective on shares of TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen raised TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 22nd. Stifel Nicolaus lifted their price target on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Truist Financial increased their price target on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of TTM Technologies in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $214.25.

Insider Activity at TTM Technologies

In related news, EVP Catherine A. Gridley sold 8,966 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the completion of the transaction, the executive vice president owned 69,679 shares of the company’s stock, valued at approximately $14,618,654.20. The trade was a 11.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas L. Soder sold 8,902 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $209.79, for a total value of $1,867,550.58. Following the transaction, the executive vice president directly owned 208,245 shares of the company’s stock, valued at approximately $43,687,718.55. This trade represents a 4.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 108,241 shares of company stock worth $20,911,975. Corporate insiders own 1.30% of the company’s stock.

TTM Technologies Company 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.