Evolve Private Wealth LLC Takes Position in TTM Technologies, Inc. $TTMI

Evolve Private Wealth LLC acquired a new stake in TTM Technologies, Inc. (NASDAQ:TTMI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,191 shares of the technology company’s stock, valued at approximately $1,158,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in TTM Technologies by 66.6% during the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company’s stock worth $543,000 after purchasing an additional 10,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of TTM Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company’s stock valued at $1,232,000 after buying an additional 2,632 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of TTM Technologies by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company’s stock valued at $34,989,000 after buying an additional 115,766 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of TTM Technologies by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company’s stock worth $3,908,000 after buying an additional 13,691 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of TTM Technologies by 1,150.2% during the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company’s stock worth $2,869,000 after buying an additional 128,700 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TTMI has been the topic of a number of recent analyst reports. B. Riley Financial upped their price objective on TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Truist Financial raised their target price on TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of TTM Technologies in a research note on Tuesday, August 18th. Finally, Wall Street Zen upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday. One investment 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 stock has an average rating of “Buy” and an average target price of $214.25.

Insider Activity

In other TTM Technologies news, EVP Shawn A. Powers sold 9,856 shares of TTM Technologies stock in a transaction dated Tuesday, June 23rd. The stock was 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 directly owned 119,268 shares of the company’s stock, valued at $25,022,426.40. The trade was a 7.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel J. Weber sold 8,533 shares of the company’s stock in a transaction dated 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 directly owned 86,088 shares of the company’s stock, valued at approximately $18,061,262.40. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 108,241 shares of company stock valued at $20,911,975. Insiders own 1.30% of the company’s stock.

TTM Technologies Price Performance

Shares of TTMI opened at $110.54 on Monday. 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, Inc. has a fifty-two week low of $40.46 and a fifty-two week high of $223.83. The company has a market cap of $11.65 billion, a P/E ratio of 49.79 and a beta of 2.15. The firm’s 50 day moving average price is $151.67 and its 200 day moving average price is $136.21.

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

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.