Legal & General Group Plc Makes New Investment in TTM Technologies, Inc. $TTMI

Legal & General Group Plc purchased a new stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 148,931 shares of the technology company’s stock, valued at approximately $27,853,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of TTM Technologies by 66.6% in the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company’s stock valued at $543,000 after buying an additional 10,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in TTM Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company’s stock worth $1,232,000 after acquiring an additional 2,632 shares during the period. Goldman Sachs Group Inc. grew its holdings in TTM Technologies by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company’s stock worth $34,989,000 after acquiring an additional 115,766 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in TTM Technologies by 7.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company’s stock worth $3,908,000 after acquiring an additional 13,691 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in TTM Technologies by 1,150.2% in the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company’s stock valued at $2,869,000 after acquiring an additional 128,700 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI opened at $118.65 on Friday. The company’s fifty day moving average is $142.53 and its two-hundred day moving average is $136.58. The company has a market cap of $12.50 billion, a P/E ratio of 53.45 and a beta of 2.14. TTM Technologies, Inc. has a 12-month low of $42.69 and a 12-month high of $223.83. 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 (NASDAQ:TTMI) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $962.04 million. During the same period last year, the company posted $0.58 earnings per share. The firm’s quarterly revenue was up 37.4% compared to the same quarter last year. Equities analysts expect that TTM Technologies, Inc. will post 4.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TTMI shares. 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 increased their price objective on TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. B. Riley Financial raised their price objective on TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of TTM Technologies in a research report on Tuesday, August 18th. Finally, Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. One research 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 company’s stock. According to data from MarketBeat, TTM Technologies presently has a consensus rating of “Buy” and a consensus target price of $214.25.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, EVP Shawn A. Powers sold 9,856 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 value of $2,067,788.80. Following the completion of the sale, the executive vice president directly owned 119,268 shares of the company’s stock, valued at $25,022,426.40. The trade was a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Douglas L. Soder sold 8,902 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total value of $1,867,550.58. Following the completion of the sale, the executive vice president directly owned 208,245 shares of the company’s stock, valued at $43,687,718.55. This represents a 4.10% 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 worth $20,911,975 over the last 90 days. 1.30% of the stock is currently owned by insiders.

TTM Technologies 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.