Norris Financial Group LLC Acquires New Holdings in TTM Technologies, Inc. $TTMI

Norris Financial Group LLC bought a new position in TTM Technologies, Inc. (NASDAQ:TTMI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 43,703 shares of the technology company’s stock, valued at approximately $4,258,000. TTM Technologies makes up approximately 1.4% of Norris Financial Group LLC’s investment portfolio, making the stock its 21st biggest position.

Other hedge funds have also modified their holdings of the company. Kestra Advisory Services LLC bought a new position in shares of TTM Technologies during the 4th quarter worth approximately $30,000. Truvestments Capital LLC acquired a new stake in TTM Technologies in the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. purchased a new position in TTM Technologies in the fourth quarter worth $32,000. Parallel Advisors LLC grew its holdings in TTM Technologies by 36.2% in the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after purchasing an additional 87 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of TTM Technologies during the fourth quarter worth $34,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TTMI has been the subject of several analyst reports. Needham & Company LLC increased their price objective on TTM Technologies from $208.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Zacks Research lowered TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Truist Financial raised their price target on TTM Technologies from $180.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. 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 report on Thursday, May 28th. Finally, Wall Street Zen cut shares of TTM Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.00.

TTM Technologies Price Performance

NASDAQ TTMI opened at $115.51 on Friday. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 62.44 and a beta of 2.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.88 and a quick ratio of 1.61. The stock’s fifty day moving average price is $169.05 and its 200 day moving average price is $132.59. TTM Technologies, Inc. has a 1 year low of $39.20 and a 1 year high of $223.83.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. TTM Technologies had a return on equity of 13.70% and a net margin of 6.29%.The business had revenue of $845.98 million for the quarter, compared to the consensus estimate of $789.84 million. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, equities research analysts forecast that TTM Technologies, Inc. will post 3.66 earnings per share for the current year.

Insider Activity

In other news, EVP Shawn A. Powers sold 3,367 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $703,500.98. Following the sale, the executive vice president directly owned 120,801 shares of the company’s stock, valued at $25,240,160.94. This represents a 2.71% 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 Catherine A. Gridley sold 3,056 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $638,520.64. Following the completion of the sale, the executive vice president owned 71,866 shares in the company, valued at $15,015,682.04. The trade was a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 82,043 shares of company stock valued at $17,191,859. 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.