Thrivent Asset Management LLC recently announced the acquisition of new stake in TTM Technologies Inc (NASDAQ:TTMI). The institutional investor has increased its shareholding in the Technology company by 0.42% to 9.36 million shares with purchase of 39040.0 shares. This fresh investment now brings its stake to 9.15% valued currently at $140.51 million. In addition, Dimensional Fund Advisors LP raised its holdings by 62821.0 to 8.18 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.28% or 11453.0 shares – to 4.06 million shares.
With over 0.48 million TTM Technologies Inc (TTMI) shares trading Friday and a closing price of $15.79 on the day, the dollar volume was approximately $7.53 million. The shares have shown a positive half year performance of 19.35% and its price on 12/22/23 gained nearly 0.57%. Currently, there are 102.23M common shares owned by the public and among those 99.41M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for TTMI have a consensus price objective of $17.81. The analysts have set the share’s price value over the next 12 months at a high of $20.75 and a low of $15.00. The average price target is 11.34% above its recent price level and a downside to the estimated low will see the stock lose -5.27% over that period. But an upside of 23.9% will see the stock hit the forecast high price target while median target price for the stock is $17.75.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 648,064 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 354,304 shares.
The top 3 mutual fund holders in TTM Technologies Inc are iShares Core S&P Small Cap ETF, Thrivent Small Cap Stock Fund, and Delaware Small Cap Value Fund. iShares Core S&P Small Cap ETF owns 6.95 million shares of the company’s stock, all valued at over $104.35 million. The company bought an additional 3654.0 shares recently to bring their total holdings to about 6.80% of the shares outstanding. Thrivent Small Cap Stock Fund bought 0.41 million shares to see its total holdings expand to 4.69 million shares valued at over $70.4 million and representing 4.59% of the shares outstanding. Delaware Small Cap Value Fund now owns shares totaling to 3.60% of the shares outstanding.
The company’s stock has a 5-day price change of 1.22% and 25.82% over the past three months. TTMI shares are trading 4.71% year to date (YTD), with the 12-month market performance up to 2.53% higher. It has a 12-month low price of $11.13 and touched a high of $17.46 over the same period. TTMI has an average intraday trading volume of 665.47K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.20%, 13.57%, and 17.30% respectively.
Institutional ownership of TTM Technologies Inc (NASDAQ: TTMI) shares accounts for 97.51% of the company’s 102.23M shares outstanding. Mutual fund holders own 66.08%, while other institutional holders and individual stakeholders account for 70.83% and 27.69% respectively.
It has a market capitalization of $1.61B and a beta (3y monthly) value of 1.42. The earnings-per-share (ttm) stands at -$0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.53% over the week and 2.39% over the month.
Analysts forecast that TTM Technologies Inc (TTMI) will achieve an EPS of $0.36 for the current quarter, $0.29 for the next quarter and $1.53 for 2024. The lowest estimate earnings-per-share for the quarter is $0.35 while analysts give the company a high EPS estimate of $0.37. Comparatively, EPS for the current quarter was $0.41 a year ago. Earnings per share for the fiscal year are expected to decrease by -26.01%, and 19.03% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to -2.62% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate TTM Technologies Inc (TTMI) as a “Strong Buy” at a consensus score of 1.50. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TTMI, a number of firms have released research notes about the stock. Truist stated their Buy rating for the stock in a research note on November 02, 2023, with the firm’s price target at $16-$16.50.
