Bank of America Corp DE Sells 603,969 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Bank of America Corp DE decreased its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 67.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 297,052 shares of the technology company’s stock after selling 603,969 shares during the quarter. Bank of America Corp DE owned about 0.29% of TTM Technologies worth $7,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in TTM Technologies by 8.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company’s stock valued at $139,000 after acquiring an additional 442 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in TTM Technologies by 3.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,797 shares of the technology company’s stock worth $490,000 after buying an additional 602 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in TTM Technologies by 8.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,652 shares of the technology company’s stock worth $288,000 after purchasing an additional 940 shares during the period. Oppenheimer & Co. Inc. boosted its stake in TTM Technologies by 6.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the technology company’s stock worth $423,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in TTM Technologies by 1.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,822 shares of the technology company’s stock valued at $1,542,000 after buying an additional 1,002 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analyst Ratings Changes

TTMI has been the subject of several recent analyst reports. B. Riley boosted their price target on TTM Technologies from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Truist Financial lowered their price target on TTM Technologies from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Needham & Company LLC boosted their price target on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus began coverage on shares of TTM Technologies in a research note on Tuesday, February 11th. They issued a “buy” rating and a $33.00 target price on the stock.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, EVP Douglas L. Soder sold 24,972 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total transaction of $749,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,026 shares of the company’s stock, valued at approximately $5,190,780. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Dale Martin Knecht sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total value of $295,200.00. Following the completion of the sale, the senior vice president now owns 76,346 shares in the company, valued at $2,253,733.92. The trade was a 11.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,642 shares of company stock worth $1,651,737. 1.30% of the stock is owned by insiders.

TTM Technologies Trading Down 1.5%

Shares of NASDAQ TTMI opened at $28.59 on Monday. TTM Technologies, Inc. has a twelve month low of $15.77 and a twelve month high of $30.41. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $22.56 and a two-hundred day simple moving average of $23.91. The firm has a market cap of $2.91 billion, a PE ratio of 52.94 and a beta of 1.20.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The business had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. During the same period last year, the business posted $0.28 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. Analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies announced that its board has approved a share repurchase program on Friday, May 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

TTM Technologies Profile

TTM Technologies, Inc, together with its subsidiaries, manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments, PCB and RF&S Components. It offers range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration, IC substrates, passive RF components, advanced ceramic RF components, hi-reliability multi-chip modules, beamforming and switching networks, PCB products, RF components, and backplane/custom assembly solutions, including conventional PCBs.