Quantbot Technologies LP Purchases Shares of 8,374 TTM Technologies, Inc. $TTMI

Quantbot Technologies LP purchased a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,374 shares of the technology company’s stock, valued at approximately $1,566,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Evolve Private Wealth LLC acquired a new stake in shares of TTM Technologies during the 2nd quarter worth about $1,158,000. Westpac Banking Corp purchased a new stake in TTM Technologies during the second quarter worth approximately $82,000. Avanda Investment Management Pte. Ltd. acquired a new position in TTM Technologies in the second quarter valued at approximately $505,000. Rakuten Securities Inc. acquired a new position in TTM Technologies in the second quarter valued at approximately $79,000. Finally, Ieq Capital LLC purchased a new position in TTM Technologies in the second quarter valued at approximately $1,150,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TTM Technologies

In other news, EVP Douglas L. Soder sold 8,902 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $209.79, for a total transaction of $1,867,550.58. Following the completion of the sale, the executive vice president owned 208,245 shares in the company, valued at approximately $43,687,718.55. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dale Martin Knecht sold 26,198 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the transaction, the senior vice president directly owned 40,138 shares in the company, valued at approximately $5,699,596. This represents a 39.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 108,241 shares of company stock worth $20,911,975 in the last three months. Company insiders own 1.30% of the company’s stock.

TTM Technologies Price Performance

TTMI stock opened at $107.12 on Tuesday. The company has a market capitalization of $11.29 billion, a P/E ratio of 48.25 and a beta of 2.15. TTM Technologies, Inc. has a twelve month low of $42.69 and a twelve month high of $223.83. The business has a 50 day simple moving average of $149.68 and a 200-day simple moving average of $136.21. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $962.04 million. During the same period last year, the firm posted $0.58 earnings per share. The company’s revenue for the quarter was up 37.4% compared to the same quarter last year. As a group, equities analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on TTMI shares. Wall Street Zen upgraded shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Stifel Nicolaus increased their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Truist Financial lifted their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. B. Riley Financial boosted their price target on shares of TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of TTM Technologies in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, TTM Technologies has an average rating of “Buy” and a consensus target price of $214.25.

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.