Royal Bank of Canada reduced its position in TTM Technologies, Inc. (NASDAQ:TTMI – Free Report) by 55.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,279 shares of the technology company’s stock after selling 4,012 shares during the period. Royal Bank of Canada’s holdings in TTM Technologies were worth $320,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in TTM Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock valued at $32,000 after acquiring an additional 87 shares during the last quarter. Lido Advisors LLC boosted its stake in TTM Technologies by 1.5% in the fourth quarter. Lido Advisors LLC now owns 8,013 shares of the technology company’s stock valued at $553,000 after acquiring an additional 116 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in TTM Technologies by 4.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,289 shares of the technology company’s stock worth $320,000 after purchasing an additional 142 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in shares of TTM Technologies by 0.8% during the fourth quarter. Tocqueville Asset Management L.P. now owns 18,858 shares of the technology company’s stock worth $1,301,000 after purchasing an additional 158 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of TTM Technologies by 4.4% during the third quarter. Larson Financial Group LLC now owns 3,978 shares of the technology company’s stock worth $229,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Weiss Ratings cut TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of TTM Technologies in a research report on Tuesday, August 18th. Stifel Nicolaus increased their price target on 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 TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded TTM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 22nd. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $214.25.
TTM Technologies Stock Performance
Shares of TTMI stock opened at $124.73 on Friday. The business has a fifty day moving average of $144.48 and a 200 day moving average of $136.71. TTM Technologies, Inc. has a 1 year low of $42.69 and a 1 year high of $223.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. The firm has a market capitalization of $13.14 billion, a price-to-earnings ratio of 56.18 and a beta of 2.14.
TTM Technologies (NASDAQ:TTMI – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.10. The business had revenue of $1 billion for 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%.The company’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, research analysts expect that TTM Technologies, Inc. will post 4.26 earnings per share for the current year.
Insider Activity
In other news, SVP Dale Martin Knecht sold 26,198 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $142.00, for a total value of $3,720,116.00. Following the sale, the senior vice president directly owned 40,138 shares of the company’s stock, valued at $5,699,596. This represents a 39.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shawn A. Powers sold 3,367 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $703,500.98. Following the transaction, the executive vice president directly owned 120,801 shares of the company’s stock, valued at approximately $25,240,160.94. This trade represents a 2.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 108,241 shares of company stock valued at $20,911,975. 1.30% of the stock is owned by insiders.
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.
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