State of Alaska Department of Revenue Sells 1,451 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

State of Alaska Department of Revenue cut its holdings in TTM Technologies, Inc. (NASDAQ:TTMI) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,500 shares of the technology company’s stock after selling 1,451 shares during the period. State of Alaska Department of Revenue owned 0.06% of TTM Technologies worth $1,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TTMI. Principal Financial Group Inc. boosted its holdings in TTM Technologies by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 494,446 shares of the technology company’s stock worth $12,238,000 after buying an additional 13,918 shares during the period. Sanctuary Advisors LLC boosted its holdings in TTM Technologies by 6.8% in the 4th quarter. Sanctuary Advisors LLC now owns 34,431 shares of the technology company’s stock worth $846,000 after buying an additional 2,184 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in TTM Technologies by 6.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the technology company’s stock worth $423,000 after buying an additional 1,000 shares during the period. Proficio Capital Partners LLC bought a new position in TTM Technologies in the 4th quarter worth approximately $295,000. Finally, Smartleaf Asset Management LLC boosted its holdings in TTM Technologies by 670.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock worth $35,000 after buying an additional 1,220 shares during the period. 95.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price target (up from $33.00) on shares of TTM Technologies in a report on Monday, June 16th. Needham & Company LLC raised their price target on shares of TTM Technologies from $35.00 to $43.00 and gave the company a “buy” rating in a report on Friday, June 20th. Truist Financial raised their price target on shares of TTM Technologies from $36.00 to $41.00 and gave the company a “buy” rating in a report on Monday, June 9th. Finally, B. Riley raised their price target on shares of TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 1st.

Insider Transactions at TTM Technologies

In other news, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction 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 sale, the executive vice president now directly owns 173,026 shares of the company’s stock, valued at approximately $5,190,780. The trade was a 12.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tom Clapprood sold 10,000 shares of TTM Technologies stock in a transaction on Friday, May 30th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the transaction, the insider now owns 34,037 shares in the company, valued at approximately $1,004,091.50. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,226 shares of company stock valued at $3,504,492. Insiders own 1.30% of the company’s stock.

TTM Technologies Stock Up 3.5%

Shares of NASDAQ:TTMI opened at $39.20 on Thursday. TTM Technologies, Inc. has a one year low of $15.77 and a one year high of $40.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.75. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 52.27 and a beta of 1.37. The firm has a fifty day moving average price of $29.00 and a two-hundred day moving average price of $25.49.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. TTM Technologies had a net margin of 3.09% and a return on equity of 10.75%. The company had revenue of $648.67 million during the quarter, compared to the consensus estimate of $621.44 million. During the same period in the previous year, the firm posted $0.28 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its Board of Directors has approved a share repurchase program on Friday, May 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 3.7% of its stock through open market purchases. Stock repurchase programs are generally an indication 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.