Horizon Investment Services LLC Increases Holdings in TTM Technologies, Inc. (TTMI)
Horizon Investment Services LLC grew its position in TTM Technologies, Inc. (NASDAQ:TTMI) by 14.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,193 shares of the technology company’s stock after acquiring an additional 18,170 shares during the quarter. Horizon Investment Services LLC owned 0.14% of TTM Technologies worth $2,521,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Ameritas Investment Partners Inc. acquired a new stake in shares of TTM Technologies during the 1st quarter worth approximately $101,000. Riverhead Capital Management LLC increased its position in shares of TTM Technologies by 71.5% during the second quarter. Riverhead Capital Management LLC now owns 6,860 shares of the technology company’s stock valued at $119,000 after purchasing an additional 2,860 shares during the period. Pacad Investment Ltd. bought a new stake in shares of TTM Technologies during the second quarter valued at approximately $133,000. Sei Investments Co. increased its position in shares of TTM Technologies by 197.1% during the second quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock valued at $161,000 after purchasing an additional 6,127 shares during the period. Finally, Sigma Planning Corp bought a new stake in shares of TTM Technologies during the second quarter valued at approximately $176,000. Institutional investors own 95.16% of the company’s stock.
TTM Technologies, Inc. (NASDAQ:TTMI) traded up 1.066% during midday trading on Wednesday, reaching $15.645. The company’s stock had a trading volume of 248,566 shares. The firm has a 50 day moving average price of $14.38 and a 200-day moving average price of $16.14. TTM Technologies, Inc. has a 52 week low of $10.85 and a 52 week high of $19.54. The firm has a market cap of $1.59 billion, a P/E ratio of 21.881 and a beta of 1.56.
TTM Technologies (NASDAQ:TTMI) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The business had revenue of $627.20 million during the quarter, compared to the consensus estimate of $625.43 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, analysts forecast that TTM Technologies, Inc. will post $1.53 earnings per share for the current fiscal year.
A number of brokerages recently commented on TTMI. Stifel Nicolaus restated a “buy” rating and issued a $17.50 target price on shares of TTM Technologies in a research note on Thursday, September 28th. Needham & Company LLC upgraded shares of TTM Technologies from a “buy” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Monday, August 7th. Zacks Investment Research downgraded shares of TTM Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. BidaskClub lowered shares of TTM Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, ValuEngine lowered shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.13.
In other news, Director Kenton K. Alder sold 3,000 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $14.29, for a total value of $42,870.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 9,000 shares of company stock valued at $142,260. Insiders own 28.40% of the company’s stock.
TTM Technologies Company Profile
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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