Tocqueville Asset Management L.P. Makes New $3.53 Million Investment in TTM Technologies, Inc. $TTMI

Tocqueville Asset Management L.P. bought a new stake in TTM Technologies, Inc. (NASDAQ:TTMI) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 18,855 shares of the technology company’s stock, valued at approximately $3,526,000.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of TTM Technologies in the second quarter worth $2,053,347,000. Invesco Ltd. raised its holdings in TTM Technologies by 3.5% in the fourth quarter. Invesco Ltd. now owns 4,980,091 shares of the technology company’s stock valued at $343,626,000 after acquiring an additional 166,188 shares in the last quarter. Whale Rock Capital Management LLC boosted its stake in TTM Technologies by 112.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company’s stock valued at $295,066,000 after acquiring an additional 2,260,035 shares during the last quarter. Polar Capital Holdings Plc bought a new position in TTM Technologies during the 3rd quarter valued at $176,376,000. Finally, Geode Capital Management LLC grew its holdings in TTM Technologies by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock worth $184,119,000 after acquiring an additional 81,588 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insider Activity

In other TTM Technologies news, EVP Catherine A. Gridley sold 3,056 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $638,520.64. Following the transaction, the executive vice president owned 71,866 shares of the company’s stock, valued at $15,015,682.04. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dale Martin Knecht sold 26,198 shares of TTM Technologies stock in a transaction that occurred on Monday, August 10th. The shares were 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 owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 108,241 shares of company stock valued at $20,911,975 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

TTM Technologies Stock Down 1.7%

TTMI stock opened at $114.38 on Friday. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 51.52 and a beta of 2.14. TTM Technologies, Inc. has a 1-year low of $39.66 and a 1-year high of $223.83. The firm has a fifty day moving average price of $153.34 and a two-hundred day moving average price of $136.16. 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 (NASDAQ:TTMI) last posted 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 net margin of 7.01% and a return on equity of 15.67%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. During the same period 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. Research analysts predict that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Analyst Ratings Changes

TTMI has been the subject of several research analyst reports. Zacks Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. B. Riley Financial lifted their price target on TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen raised TTM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of TTM Technologies in a research note on Tuesday. Finally, Stifel Nicolaus increased their target price on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $214.25.

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.