Royal Bank of Canada Decreases Stake in TTM Technologies, Inc. $TTMI

Royal Bank of Canada reduced its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 55.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,279 shares of the technology company’s stock after selling 4,012 shares during the quarter. Royal Bank of Canada’s holdings in TTM Technologies were worth $320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in TTM Technologies during the fourth quarter valued at $30,000. Truvestments Capital LLC purchased a new position in TTM Technologies in the fourth quarter worth about $30,000. Parallel Advisors LLC increased its stake in TTM Technologies by 36.2% during the first 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 last quarter. Danske Bank A S purchased a new stake in TTM Technologies during the fourth quarter valued at approximately $34,000. Finally, Signature Equity Partners LLC purchased a new stake in TTM Technologies during the first quarter valued at approximately $40,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TTM Technologies

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

Analyst Ratings Changes

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

TTM Technologies Stock Up 2.5%

NASDAQ:TTMI opened at $124.73 on Friday. 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, Inc. has a 1-year low of $42.69 and a 1-year high of $223.83. The company has a 50-day moving average of $144.48 and a 200 day moving average of $136.71. The firm has a market cap of $13.14 billion, a PE ratio of 56.18 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, beating 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 the consensus estimate of $962.04 million. During the same quarter last year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. As a group, research analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

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.