Ellsworth Advisors LLC Buys 43,853 Shares of TTM Technologies, Inc. $TTMI

Ellsworth Advisors LLC bought a new stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 43,853 shares of the technology company’s stock, valued at approximately $5,387,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in TTM Technologies in the second quarter worth about $2,053,347,000. Castle Hook Partners LP acquired a new position in shares of TTM Technologies during the fourth quarter valued at about $133,351,000. Atalan Capital Partners LP acquired a new position in shares of TTM Technologies during the second quarter valued at about $189,234,000. Wellington Management Group LLP increased its holdings in shares of TTM Technologies by 61.9% during the second quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company’s stock valued at $424,237,000 after acquiring an additional 867,255 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of TTM Technologies in the 2nd quarter valued at approximately $114,470,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings cut shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Zacks Research lowered shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Needham & Company LLC cut their price target on shares of TTM Technologies from $220.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Finally, Truist Financial raised their price target on shares of TTM Technologies from $224.00 to $231.00 and gave the stock a “buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $204.75.

Insider Buying and Selling

In other TTM Technologies news, SVP Dale Knecht sold 26,198 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the transaction, the senior vice president directly owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. This trade represents a 39.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Edwin Roks acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $111.77 per share, with a total value of $1,117,700.00. Following the completion of the purchase, the chief executive officer owned 64,814 shares in the company, valued at approximately $7,244,260.78. This trade represents a 18.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.30% of the company’s stock.

TTM Technologies Stock Down 1.9%

TTM Technologies stock opened at $101.36 on Friday. The business’s 50-day simple moving average is $122.48 and its two-hundred day simple moving average is $142.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The company has a market cap of $10.68 billion, a PE ratio of 45.66 and a beta of 2.14. TTM Technologies, Inc. has a fifty-two week low of $54.43 and a fifty-two week high of $223.83.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $962.04 million. During the same period last year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was up 37.4% compared to the same quarter last year. Equities analysts anticipate that TTM Technologies, Inc. will post 4.24 EPS for the current year.

About TTM Technologies

TTM Technologies, Inc is a manufacturer of technology solutions for the electronics industry. The company primarily produces printed circuit boards, including rigid, flexible, rigid-flex and high-density interconnect boards, as well as specialized radio-frequency and microwave components and assemblies.

TTM’s products and services support applications that require complex electronic circuitry and high reliability. Its customers operate in markets such as aerospace and defense, data-center computing, automotive, medical, industrial and instrumentation, and networking and communications.