Tocqueville buys $3.53M stake in TTM Technologies as revenue jumps 37%
What's the deal? Tocqueville Asset Management L.P.Dealroom has a profile for this one. Try Dealroom → bought a new stake in TTM TechnologiesDealroom has a profile for this one. Try Dealroom → (NASDAQ:TTMI) during the second quarter, acquiring 18,855 shares worth about $3,526,000, according to HoldingsChannel.com.
What does the company do? TTM Technologies makes printed circuit boards and other electronics components. The company reported $1 billion in quarterly revenue on August 6, up 37.4% year on year and above the $962.04 million analysts expected.
Beating expectations: TTM posted earnings of $0.99 per share, topping the $0.89 consensus by $0.10 and well above the $0.58 it earned a year earlier. It recorded a net margin of 7.01% and a return on equity of 15.67%.
Who else is buying? Tocqueville joins a crowded institutional field. BlackRock opened a new position worth $2.05 billion in the second quarter, while Invesco raised its holdings 3.5% to 4,980,091 shares valued at $343.63 million. Whale Rock Capital ManagementDealroom has a profile for this one. Try Dealroom → more than doubled its stake, and institutional investors now own 95.79% of the company.
What could go wrong? Insiders have been selling. Executives offloaded 108,241 shares worth $20,911,975 over the last quarter, including a $3.72 million sale by SVP Dale Martin Knecht on August 10. The stock trades at a price-to-earnings ratio of 51.52 and a beta of 2.14, and shares have swung between a 1-year low of $39.66 and a high of $223.83.
The signal: Heavy institutional buying against a backdrop of insider selling captures the split view on TTM. Strong revenue growth is pulling in funds, but a lofty valuation and executive sales suggest caution about how much upside remains.
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