Bank of New York Mellon Corp Sells 34,829 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Bank of New York Mellon Corp decreased its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 4.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 697,906 shares of the technology company’s stock after selling 34,829 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of TTM Technologies worth $14,314,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in TTM Technologies by 7.8% during the 4th quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company’s stock worth $28,700,000 after purchasing an additional 84,137 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of TTM Technologies by 2.7% in the first quarter. Principal Financial Group Inc. now owns 507,745 shares of the technology company’s stock worth $10,414,000 after buying an additional 13,299 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of TTM Technologies by 0.5% in the first quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company’s stock valued at $2,268,000 after acquiring an additional 567 shares during the period. GAMMA Investing LLC grew its stake in TTM Technologies by 2,396.2% during the first quarter. GAMMA Investing LLC now owns 50,947 shares of the technology company’s stock valued at $1,045,000 after acquiring an additional 48,906 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its holdings in TTM Technologies by 5.0% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 582,525 shares of the technology company’s stock worth $14,417,000 after acquiring an additional 27,980 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

TTMI has been the topic of a number of research analyst reports. Needham & Company LLC upped their target price on TTM Technologies from $35.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, June 20th. B. Riley lifted their target price on shares of TTM Technologies from $36.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price target (up previously from $33.00) on shares of TTM Technologies in a report on Monday, June 16th. Truist Financial lifted their price objective on shares of TTM Technologies from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, Wall Street Zen lowered shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $45.25.

TTM Technologies Stock Down 2.6%

NASDAQ:TTMI opened at $45.03 on Friday. 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’s 50-day moving average price is $36.29 and its 200-day moving average price is $27.63. The company has a market capitalization of $4.58 billion, a PE ratio of 60.04 and a beta of 1.46. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $47.63.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $648.67 million during 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%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. On average, equities analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its board has approved a share repurchase plan on Friday, May 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to purchase up to 3.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at TTM Technologies

In related news, EVP Douglas L. Soder sold 24,972 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the transaction, the executive vice president directly owned 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 sale 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 that occurred on Monday, June 23rd. The shares were sold at an average price of $36.39, for a total value of $854,655.54. Following the transaction, the chief operating officer owned 123,338 shares of the company’s stock, valued at approximately $4,488,269.82. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,226 shares of company stock worth $3,504,492. Company insiders own 1.30% of the company’s stock.

TTM Technologies Company 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.