Tocqueville Asset Management L.P. Purchases Shares of 18,855 TTM Technologies, Inc. $TTMI

Tocqueville Asset Management L.P. acquired a new stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,855 shares of the technology company’s stock, valued at approximately $3,526,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TTMI. Rokos Capital Management LLP acquired a new stake in TTM Technologies during the first quarter worth about $13,031,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of TTM Technologies by 97.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock valued at $19,270,000 after purchasing an additional 97,799 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of TTM Technologies during the 4th quarter worth about $668,000. BlackRock Inc. purchased a new stake in shares of TTM Technologies during the 2nd quarter worth about $2,053,347,000. Finally, Geode Capital Management LLC increased its position in TTM Technologies by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock worth $184,119,000 after purchasing an additional 81,588 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

TTM Technologies Stock Performance

TTM Technologies stock opened at $114.38 on Friday. The firm has a market capitalization of $12.05 billion, a PE ratio of 51.52 and a beta of 2.14. TTM Technologies, Inc. has a one year low of $39.66 and a one year high of $223.83. The stock’s 50 day moving average price is $153.34 and its 200 day moving average price is $136.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.10. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. TTM Technologies’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. As a group, sell-side analysts expect that TTM Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Catherine A. Gridley sold 8,966 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the completion of the sale, the executive vice president directly owned 69,679 shares of the company’s stock, valued at approximately $14,618,654.20. This trade represents a 11.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shawn A. Powers sold 9,856 shares of TTM Technologies stock in a transaction on 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 trade represents a 7.63% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 108,241 shares of company stock valued at $20,911,975. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of TTM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research raised shares of TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of TTM Technologies in a research note on Tuesday. 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 report on Thursday, May 28th. Finally, Truist Financial upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $214.25.

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.