Wellington Management Group LLP Has $424.24 Million Stake in TTM Technologies, Inc. $TTMI

Wellington Management Group LLP raised its position in shares of TTM Technologies, Inc. (NASDAQ:TTMIFree Report) by 61.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,268,404 shares of the technology company’s stock after acquiring an additional 867,255 shares during the period. Wellington Management Group LLP’s holdings in TTM Technologies were worth $424,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Archer Investment Corp bought a new position in shares of TTM Technologies in the second quarter worth about $486,000. Kingsview Wealth Management LLC bought a new stake in TTM Technologies during the 2nd quarter valued at approximately $578,000. United Capital Financial Advisors LLC acquired a new stake in TTM Technologies in the 2nd quarter valued at approximately $500,000. Papamarkou Wellner Asset Management inc. bought a new position in TTM Technologies in the 2nd quarter worth approximately $369,000. Finally, Centaurus Financial Inc. bought a new position in TTM Technologies in the 2nd quarter worth approximately $394,000. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Stock Performance

TTM Technologies stock opened at $118.65 on Friday. The firm has a market capitalization of $12.50 billion, a P/E ratio of 53.45 and a beta of 2.14. The stock has a fifty day moving average price of $142.53 and a two-hundred day moving average price of $136.58. TTM Technologies, Inc. has a 52-week low of $42.69 and a 52-week 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.

TTM Technologies (NASDAQ:TTMIGet Free Report) last issued its earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. During the same quarter in the previous year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. As a group, analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday. Stifel Nicolaus upped their price objective on shares of TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. B. Riley Financial lifted their target price on TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of TTM Technologies in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, TTM Technologies has an average rating of “Buy” and a consensus price target of $214.25.

Get Our Latest Stock Analysis on TTM Technologies

Insider Activity

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 shares were sold at an average price of $142.00, for a total value of $3,720,116.00. Following the transaction, the senior vice president directly owned 40,138 shares in the company, valued at $5,699,596. The trade was a 39.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Shawn A. Powers sold 9,856 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 transaction of $2,067,788.80. Following the sale, the executive vice president directly owned 119,268 shares in the company, valued at $25,022,426.40. This represents a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 108,241 shares of company stock worth $20,911,975 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

About TTM Technologies

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for TTM Technologies (NASDAQ:TTMI)

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