Great Lakes Advisors LLC Acquires New Shares in TTM Technologies, Inc. $TTMI

Great Lakes Advisors LLC acquired a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,792 shares of the technology company’s stock, valued at approximately $1,457,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of TTM Technologies during the second quarter valued at about $2,053,347,000. Polar Capital Holdings Plc acquired a new position in TTM Technologies in the 3rd quarter valued at approximately $176,376,000. Invesco Ltd. raised its stake in shares of TTM Technologies by 127.7% during the third quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company’s stock valued at $277,281,000 after acquiring an additional 2,699,494 shares during the last quarter. Whale Rock Capital Management LLC raised its stake in shares of TTM Technologies by 112.1% during the fourth 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. Finally, Castle Hook Partners LP acquired a new position in shares of TTM Technologies during the fourth quarter worth $133,351,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insider Transactions at TTM Technologies

In related news, EVP Daniel J. Weber sold 8,533 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total value of $1,790,223.40. Following the transaction, the executive vice president owned 86,088 shares in the company, valued at approximately $18,061,262.40. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shawn A. Powers sold 9,856 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 119,268 shares of the company’s stock, valued at approximately $25,022,426.40. This trade represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 108,241 shares of company stock valued at $20,911,975. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TTMI. Truist Financial upped their price target on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Stifel Nicolaus lifted 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. Finally, Weiss Ratings upgraded TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, TTM Technologies has a consensus rating of “Buy” and a consensus price target of $214.25.

TTM Technologies Trading Down 3.4%

NASDAQ:TTMI opened at $110.54 on Friday. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 49.79 and a beta of 2.14. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The firm has a 50-day moving average price of $151.67 and a two-hundred day moving average price of $135.98. TTM Technologies, Inc. has a 52 week low of $40.46 and a 52 week high of $223.83.

TTM Technologies (NASDAQ:TTMI) last released its earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. On average, equities analysts expect that TTM Technologies, Inc. will post 4.26 earnings per share for the current fiscal year.

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.