Castleark Management LLC Acquires New Holdings in TTM Technologies, Inc. $TTMI

Castleark Management LLC bought a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 28,090 shares of the technology company’s stock, valued at approximately $5,253,000.

Several other large investors have also recently modified their holdings of the business. GAMMA Investing LLC grew its stake 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 during the last quarter. Parallel Advisors LLC raised its position in TTM Technologies by 36.2% during the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after purchasing an additional 87 shares during the last quarter. Lido Advisors LLC lifted its holdings in TTM Technologies by 1.5% during the 4th quarter. Lido Advisors LLC now owns 8,013 shares of the technology company’s stock worth $553,000 after buying an additional 116 shares during the period. GoalVest Advisory LLC raised its position in shares of TTM Technologies by 456.7% during the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock worth $31,000 after acquiring an additional 137 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of TTM Technologies by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,289 shares of the technology company’s stock worth $320,000 after acquiring an additional 142 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus upped their target price on TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Truist Financial lifted their target price on TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wall Street Zen raised TTM Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of TTM Technologies in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $214.25.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, EVP Shawn A. Powers sold 3,367 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $208.94, for a total transaction of $703,500.98. Following the sale, the executive vice president directly owned 120,801 shares of the company’s stock, valued at $25,240,160.94. This represents a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Edwin Roks purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average price 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 90 days, insiders sold 108,241 shares of company stock valued at $20,911,975. Insiders own 1.30% of the company’s stock.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI opened at $112.30 on Wednesday. TTM Technologies, Inc. has a fifty-two week low of $42.69 and a fifty-two week high of $223.83. The company’s 50-day moving average is $147.94 and its 200 day moving average is $136.32. The company has a market capitalization of $11.83 billion, a P/E ratio of 50.59 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78.

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 the consensus estimate of $0.89 by $0.10. The company 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 last year, the business posted $0.58 EPS. On average, equities research analysts forecast that TTM Technologies, Inc. will post 4.26 earnings per share for the current 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.