TTM Technologies, Inc. $TTMI Shares Newly Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC bought a new position in TTM Technologies, Inc. (NASDAQ:TTMI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,853 shares of the technology company’s stock, valued at approximately $5,387,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in TTM Technologies during the second quarter worth about $2,053,347,000. Wellington Management Group LLP lifted its holdings in TTM Technologies by 61.9% in the second quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock valued at $424,237,000 after acquiring an additional 867,255 shares during the period. Atalan Capital Partners LP acquired a new position in TTM Technologies in the second quarter valued at approximately $189,234,000. Castle Hook Partners LP acquired a new position in TTM Technologies in the fourth quarter valued at approximately $133,351,000. Finally, Bank of New York Mellon Corp acquired a new position in TTM Technologies in the second quarter valued at approximately $114,470,000. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Price Performance

Shares of TTM Technologies stock opened at $101.36 on Friday. 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 twelve month low of $54.43 and a twelve month high of $223.83. The business has a 50-day moving average price of $122.48 and a 200 day moving average price of $142.23. The firm has a market cap of $10.68 billion, a PE ratio of 45.66 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly 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 return on equity of 15.67% and a net margin of 7.01%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. During the same quarter in the prior year, the business posted $0.58 earnings per share. TTM Technologies’s revenue for the quarter was up 37.4% on a year-over-year basis. Sell-side analysts predict that TTM Technologies, Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TTMI has been the topic of several recent research reports. Truist Financial upped their price objective on TTM Technologies from $224.00 to $231.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Research cut shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen cut shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Needham & Company LLC lowered their price target on shares of TTM Technologies from $220.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Finally, Weiss Ratings lowered shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.75.

Insider Buying and Selling

In other news, SVP Dale Knecht sold 26,198 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the transaction, the senior vice president owned 40,138 shares in the company, valued at $5,699,596. This trade represents a 39.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edwin Roks purchased 10,000 shares of the company’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 purchase, the chief executive officer directly owned 64,814 shares in the company, valued at $7,244,260.78. This trade represents a 18.24% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.30% of the stock is owned by insiders.

TTM Technologies Profile

TTM Technologies, Inc is a manufacturer of technology solutions for the electronics industry. The company primarily produces printed circuit boards, including rigid, flexible, rigid-flex and high-density interconnect boards, as well as specialized radio-frequency and microwave components and assemblies.

TTM’s products and services support applications that require complex electronic circuitry and high reliability. Its customers operate in markets such as aerospace and defense, data-center computing, automotive, medical, industrial and instrumentation, and networking and communications.