PCM Encore LLC Makes New Investment in TTM Technologies, Inc. $TTMI

PCM Encore LLC purchased a new position in TTM Technologies, Inc. (NASDAQ:TTMI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,024 shares of the technology company’s stock, valued at approximately $940,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTMI. Harbor Investment Advisory LLC purchased a new position in shares of TTM Technologies during the 2nd quarter valued at $29,000. Kestra Advisory Services LLC bought a new position in TTM Technologies in the 4th quarter worth $30,000. Truvestments Capital LLC purchased a new stake in TTM Technologies in the 4th quarter worth $30,000. GoalVest Advisory LLC increased its stake in TTM Technologies by 456.7% in the 2nd quarter. GoalVest Advisory LLC now owns 167 shares of the technology company’s stock worth $31,000 after buying an additional 137 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in TTM Technologies during the fourth quarter valued at about $32,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Daniel J. Weber sold 2,915 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $609,060.10. Following the sale, the executive vice president directly owned 88,250 shares of the company’s stock, valued at $18,438,955. This represents a 3.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dale Martin Knecht sold 26,198 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 40,138 shares of the company’s stock, valued at $5,699,596. This represents a 39.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 108,241 shares of company stock worth $20,911,975. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TTMI. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price objective on shares of TTM Technologies in a research note on Tuesday. Zacks Research raised TTM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Wall Street Zen raised TTM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings raised TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, B. Riley Financial upped their price target on TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $214.25.

TTM Technologies Stock Down 1.7%

TTMI opened at $114.38 on Friday. The firm has a 50-day simple moving average of $153.34 and a two-hundred day simple moving average of $136.16. TTM Technologies, Inc. has a 52 week low of $39.66 and a 52 week high of $223.83. The company has a market capitalization of $12.05 billion, a PE ratio of 51.52 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 posted its earnings results on Thursday, August 6th. The technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $962.04 million. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. 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.