Mirae Asset Global Investments Co. Ltd. Buys New Stake in TTM Technologies, Inc. $TTMI

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,071 shares of the technology company’s stock, valued at approximately $1,360,000.

Several other large investors have also recently made changes to their positions in TTMI. BlackRock Inc. acquired a new stake in TTM Technologies during the second quarter valued at $2,053,347,000. Wellington Management Group LLP raised its position in shares of 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 worth $424,237,000 after acquiring an additional 867,255 shares during the period. Atalan Capital Partners LP acquired a new position in shares of TTM Technologies in the second quarter worth about $189,234,000. Bank of New York Mellon Corp purchased a new stake in shares of TTM Technologies during the 2nd quarter worth about $114,470,000. Finally, Palestra Capital Management LLC purchased a new stake in shares of TTM Technologies during the 2nd quarter worth about $105,214,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

TTM Technologies Price Performance

Shares of NASDAQ TTMI opened at $66.51 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 1.67. The firm has a fifty day moving average of $108.96 and a 200 day moving average of $126.91. The firm has a market cap of $7.01 billion, a PE ratio of 26.50 and a beta of 2.25. TTM Technologies, Inc. has a one year low of $55.44 and a one year high of $223.83.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Thursday, October 22nd. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.21. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $0.50 earnings per share. The company’s revenue was up 59.9% compared to the same quarter last year. As a group, research analysts predict that TTM Technologies, Inc. will post 4.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TTMI. Zacks Research cut TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Needham & Company LLC reduced their price target on TTM Technologies from $175.00 to $150.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Stifel Nicolaus reduced their price target on TTM Technologies from $205.00 to $165.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Weiss Ratings downgraded TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Finally, Truist Financial dropped their price objective on TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.25.

Insider Transactions at TTM Technologies

In related news, SVP Dale Knecht sold 26,198 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president directly owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. This represents a 39.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edwin Roks bought 5,000 shares of the stock in a transaction on Wednesday, October 28th. The shares were acquired at an average cost of $88.07 per share, for a total transaction of $440,350.00. Following the purchase, the chief executive officer owned 64,483 shares in the company, valued at $5,679,017.81. The trade was a 8.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 35,000 shares of company stock valued at $3,092,050 over the last ninety days. Insiders own 1.30% of the company’s stock.

TTM Technologies Profile

TTM Technologies, Inc designs and manufactures printed circuit boards (PCBs) and radio-frequency (RF) and microwave components and assemblies. Its products support the development and operation of electronic systems used in communications, data infrastructure, aerospace and defense, automotive, medical, and industrial applications.

The company provides engineering and manufacturing services, including PCB design support, prototyping, and production. TTM serves customers around the world through operations in North America and Asia.

Founded in 1998, TTM Technologies is headquartered in Santa Ana, California.