Summit Global Investments Takes $784,000 Position in TTM Technologies, Inc. $TTMI

Summit Global Investments bought a new position in TTM Technologies, Inc. (NASDAQ:TTMI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,193 shares of the technology company’s stock, valued at approximately $784,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harbor Investment Advisory LLC purchased a new stake in TTM Technologies in the 2nd quarter worth about $29,000. GoalVest Advisory LLC grew its stake in TTM Technologies by 456.7% during the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock valued at $31,000 after acquiring an additional 137 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of TTM Technologies by 36.2% in the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock valued at $32,000 after purchasing an additional 87 shares during the period. Carolina Wealth Advisors LLC increased its holdings in shares of TTM Technologies by 78.7% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 377 shares of the technology company’s stock valued at $71,000 after purchasing an additional 166 shares during the period. Finally, Signature Equity Partners LLC purchased a new stake in shares of TTM Technologies in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on TTMI shares. Needham & Company LLC raised their price target on shares of TTM Technologies from $208.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Wall Street Zen upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Truist Financial increased their target price on shares of TTM Technologies from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. B. Riley Financial lifted their target price on shares of TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Stifel Nicolaus boosted their price target on shares of TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $214.25.

TTM Technologies Stock Performance

TTMI stock opened at $140.00 on Friday. The firm has a 50 day moving average of $157.63 and a two-hundred day moving average of $135.10. TTM Technologies, Inc. has a 12 month low of $39.20 and a 12 month high of $223.83. The company has a market capitalization of $14.75 billion, a price-to-earnings ratio of 63.06 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, beating analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. During the same quarter last year, the firm earned $0.58 EPS. TTM Technologies’s revenue for the quarter was up 37.4% on a year-over-year basis. As a group, equities analysts anticipate that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Insider Activity

In other TTM Technologies news, EVP Daniel J. Weber sold 8,533 shares of the firm’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 $1,790,223.40. Following the transaction, the executive vice president directly owned 86,088 shares in the company, valued at $18,061,262.40. This trade represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas L. Soder sold 8,902 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total value of $1,867,550.58. Following the completion of the sale, the executive vice president directly owned 208,245 shares of the company’s stock, valued at $43,687,718.55. This represents a 4.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 108,241 shares of company stock valued at $20,911,975. Corporate insiders own 1.30% of the company’s stock.

About TTM Technologies

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.