TTM Technologies, Inc. (NASDAQ:TTMI) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in TTM Technologies, Inc. (NASDAQ:TTMI) by 17.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,605 shares of the technology company’s stock after selling 13,686 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of TTM Technologies worth $1,284,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TTMI. USA Financial Formulas increased its holdings in shares of TTM Technologies by 119.1% in the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,216 shares during the period. Sterling Capital Management LLC increased its holdings in shares of TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company’s stock valued at $79,000 after purchasing an additional 2,831 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of TTM Technologies in the fourth quarter valued at approximately $89,000. Quadrant Capital Group LLC increased its holdings in shares of 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 purchasing an additional 442 shares during the period. Finally, State of Wyoming increased its holdings in shares of TTM Technologies by 103.3% in the fourth quarter. State of Wyoming now owns 5,708 shares of the technology company’s stock valued at $141,000 after purchasing an additional 2,900 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

TTM Technologies Trading Up 0.5%

Shares of TTMI stock opened at $44.11 on Friday. The business’s fifty day moving average price is $34.33 and its 200 day moving average price is $26.92. 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 firm has a market capitalization of $4.48 billion, a PE ratio of 58.81 and a beta of 1.46. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $45.00.

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

TTM Technologies announced that its board has approved a share repurchase plan on Friday, May 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TTMI. Wall Street Zen lowered TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price objective (up previously from $33.00) on shares of TTM Technologies in a report on Monday, June 16th. Needham & Company LLC upped their price objective on TTM Technologies from $35.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, June 20th. Truist Financial upped their price objective on TTM Technologies from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, B. Riley upped their price objective on TTM Technologies from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $41.75.

Insider Activity at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of the business’s 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 sale, the insider directly owned 34,037 shares in the company, valued at approximately $1,004,091.50. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Philip Titterton sold 23,486 shares of the business’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $36.39, for a total value of $854,655.54. Following the sale, the chief operating officer owned 123,338 shares in the company, valued at approximately $4,488,269.82. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,226 shares of company stock valued at $3,504,492 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

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.