Twin Tree Management LP Purchases Shares of 9,403 TTM Technologies, Inc. $TTMI

Twin Tree Management LP purchased a new stake in TTM Technologies, Inc. (NASDAQ:TTMI) in the second quarter, HoldingsChannel reports. The fund purchased 9,403 shares of the technology company’s stock, valued at approximately $1,759,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in TTM Technologies in the 2nd quarter valued at approximately $2,053,347,000. Rokos Capital Management LLP bought a new stake in shares of TTM Technologies in the 1st quarter worth approximately $13,031,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of TTM Technologies by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock worth $19,270,000 after purchasing an additional 97,799 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of TTM Technologies during the 4th quarter worth approximately $668,000. Finally, Renaissance Technologies LLC bought a new stake in shares of TTM Technologies during the first quarter valued at approximately $36,130,000. Institutional investors own 95.79% of the company’s stock.

TTM Technologies Trading Down 3.4%

Shares of TTMI opened at $110.54 on Friday. TTM Technologies, Inc. has a 1 year low of $40.46 and a 1 year high of $223.83. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $151.67 and a 200-day simple moving average of $135.98. The stock has a market cap of $11.65 billion, a PE ratio of 49.79 and a beta of 2.14.

TTM Technologies (NASDAQ:TTMI) last posted its 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. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.TTM Technologies’s revenue was up 37.4% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS. On average, sell-side analysts predict that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Analysts Set New Price Targets

TTMI has been the subject of a number of recent research reports. Stifel Nicolaus upped their target price on TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Truist Financial boosted their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, B. Riley Financial raised their price objective on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, TTM Technologies presently has an average rating of “Buy” and a consensus target price of $214.25.

Insider Activity

In other TTM Technologies news, EVP Daniel J. Weber sold 8,533 shares of TTM Technologies stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,790,223.40. Following the completion of the transaction, the executive vice president directly owned 86,088 shares of the company’s stock, valued at approximately $18,061,262.40. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shawn A. Powers sold 9,856 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $2,067,788.80. Following the completion of the sale, the executive vice president owned 119,268 shares in the company, valued at $25,022,426.40. This represents a 7.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 108,241 shares of company stock valued at $20,911,975. 1.30% of the stock is owned by company 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.