Man Group plc Invests $10.20 Million in TTM Technologies, Inc. $TTMI

Man Group plc bought a new stake in TTM Technologies, Inc. (NASDAQ:TTMI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54,526 shares of the technology company’s stock, valued at approximately $10,197,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC acquired a new stake in TTM Technologies during the second quarter worth $29,000. Kestra Advisory Services LLC bought a new stake in TTM Technologies in the 4th quarter valued at $30,000. Truvestments Capital LLC acquired a new position in shares of TTM Technologies in the 4th quarter valued at $30,000. GoalVest Advisory LLC lifted its holdings in shares of TTM Technologies by 456.7% during the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock worth $31,000 after acquiring an additional 137 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of TTM Technologies by 36.2% during the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after acquiring an additional 87 shares during the period. 95.79% of the stock is owned by institutional investors.

TTM Technologies Trading Down 4.9%

TTMI opened at $118.65 on Friday. TTM Technologies, Inc. has a 1-year low of $42.69 and a 1-year high of $223.83. The stock has a market capitalization of $12.50 billion, a PE ratio of 53.45 and a beta of 2.14. 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 firm has a 50-day moving average price of $142.53 and a two-hundred day moving average price of $136.58.

TTM Technologies (NASDAQ:TTMI) last announced its 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. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. TTM Technologies’s quarterly revenue was up 37.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 earnings per share. As a group, equities analysts anticipate that TTM Technologies, Inc. will post 4.26 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In other TTM Technologies news, SVP Dale Martin Knecht sold 26,198 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the sale, the senior vice president directly owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. The trade was a 39.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edwin Roks bought 10,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the transaction, the chief executive officer owned 64,814 shares in the company, valued at approximately $7,244,260.78. This trade represents a 18.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 108,241 shares of company stock valued at $20,911,975 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TTMI shares. Stifel Nicolaus upped their target price on shares of TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. B. Riley Financial raised their price target on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Truist Financial lifted their price objective on TTM Technologies from $215.00 to $224.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of TTM Technologies in a research note on Tuesday, August 18th. Finally, Weiss Ratings cut TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, TTM Technologies presently has an average rating of “Buy” and a consensus price target 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.