Lisanti Capital Growth LLC Acquires New Position in TTM Technologies, Inc. $TTMI

Lisanti Capital Growth LLC bought a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,805 shares of the technology company’s stock, valued at approximately $3,784,000.

Other large investors have also recently modified their holdings of the company. Harbor Investment Advisory LLC bought a new position in shares of TTM Technologies in the 2nd quarter valued at $29,000. GoalVest Advisory LLC boosted its stake in TTM Technologies by 456.7% in the second quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in TTM Technologies in the second quarter valued at about $47,000. Root Financial Partners LLC acquired a new position in TTM Technologies during the third quarter worth about $31,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of TTM Technologies in the second quarter worth about $49,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director Philip G. Franklin purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was bought at an average price of $61.92 per share, with a total value of $309,600.00. Following the completion of the purchase, the director owned 161,725 shares in the company, valued at approximately $10,014,012. This represents a 3.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wajid Ali acquired 10,000 shares of the stock in a transaction dated Thursday, November 5th. The shares were bought at an average price of $63.15 per share, with a total value of $631,500.00. Following the completion of the transaction, the director directly owned 45,835 shares of the company’s stock, valued at $2,894,480.25. The trade was a 27.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 40,000 shares of company stock valued at $3,401,650. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus dropped their price target on TTM Technologies from $205.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Truist Financial reduced their price objective on TTM Technologies from $231.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Needham & Company LLC lowered their target price on TTM Technologies from $175.00 to $150.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Wall Street Zen downgraded TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st. Finally, Zacks Research downgraded TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, TTM Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.25.

TTM Technologies Trading Up 9.0%

Shares of NASDAQ TTMI opened at $78.70 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 1.67. TTM Technologies, Inc. has a 52-week low of $55.44 and a 52-week high of $223.83. The firm has a 50 day moving average price of $106.43 and a two-hundred day moving average price of $126.58. The stock has a market cap of $8.29 billion, a P/E ratio of 31.35 and a beta of 2.25.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Thursday, October 22nd. The technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.21. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. TTM Technologies’s revenue was up 59.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. As a group, equities analysts forecast that TTM Technologies, Inc. will post 4.36 EPS for the current year.

TTM Technologies Company Profile

TTM Technologies, Inc. designs and manufactures printed circuit boards (PCBs) and radio-frequency (RF) and microwave components and assemblies. Its products support the development and operation of electronic systems used in communications, data infrastructure, aerospace and defense, automotive, medical, and industrial applications. The company provides engineering and manufacturing services, including PCB design support, prototyping, and production. TTM serves customers around the world through operations in North America and Asia.