The Manufacturers Life Insurance Company Buys Shares of 72,523 TTM Technologies, Inc. $TTMI

The Manufacturers Life Insurance Company bought a new stake in TTM Technologies, Inc. (NASDAQ:TTMI) during the second quarter, HoldingsChannel.com reports. The firm bought 72,523 shares of the technology company’s stock, valued at approximately $13,563,000.

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

Analyst Upgrades and Downgrades

TTMI has been the subject of a number of recent analyst reports. Truist Financial lifted their price objective 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 lowered shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. B. Riley Financial raised their target price on TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen raised TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 22nd. Finally, Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, TTM Technologies has an average rating of “Buy” and an average target price of $214.25.

TTM Technologies Stock Down 4.9%

Shares of NASDAQ TTMI opened at $118.65 on Friday. The company’s 50-day simple moving average is $142.53 and its 200-day simple moving average is $136.58. TTM Technologies, Inc. has a 52-week low of $42.69 and a 52-week high of $223.83. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 53.45 and a beta of 2.14. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.10. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. Equities analysts predict that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Insider Activity

In other TTM Technologies news, CEO Edwin Roks bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average price of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the acquisition, the chief executive officer directly owned 64,814 shares of the company’s stock, valued at $7,244,260.78. This represents a 18.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dale Martin Knecht sold 26,198 shares of the stock in a transaction dated Monday, August 10th. The shares were 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 owned 40,138 shares of the company’s stock, valued at $5,699,596. This trade represents a 39.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 108,241 shares of company stock valued at $20,911,975 in the last three months. Company insiders own 1.30% of the company’s stock.

TTM Technologies Company 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.