Mutual of America Capital Management LLC Sells 598 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Mutual of America Capital Management LLC lowered its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,803 shares of the technology company’s stock after selling 598 shares during the period. Mutual of America Capital Management LLC owned approximately 0.23% of TTM Technologies worth $4,713,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TTMI. USA Financial Formulas boosted its stake in TTM Technologies by 119.1% during the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,216 shares in the last quarter. Sterling Capital Management LLC raised its holdings in TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company’s stock worth $79,000 after buying an additional 2,831 shares during the last quarter. State of Wyoming raised its holdings in TTM Technologies by 103.3% in the fourth quarter. State of Wyoming now owns 5,708 shares of the technology company’s stock worth $141,000 after buying an additional 2,900 shares during the last quarter. Group One Trading LLC purchased a new position in TTM Technologies in the fourth quarter worth about $200,000. Finally, Cim Investment Management Inc. purchased a new position in TTM Technologies in the fourth quarter worth about $236,000. Institutional investors own 95.79% of the company’s stock.

Insider Activity

In other TTM Technologies news, COO Philip Titterton sold 23,486 shares of the company’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 transaction of $854,655.54. Following the completion of the sale, the chief operating officer directly owned 123,338 shares of the company’s stock, valued at approximately $4,488,269.82. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total transaction of $595,216.70. Following the sale, the executive vice president directly owned 74,983 shares of the company’s stock, valued at approximately $2,212,748.33. This represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,226 shares of company stock valued at $4,174,692 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial lifted their target price 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. Wall Street Zen raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Stifel Nicolaus lifted their target price on shares of TTM Technologies from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. B. Riley lifted their target price on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, Needham & Company LLC lifted their target price on shares of TTM Technologies from $43.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TTM Technologies has an average rating of “Buy” and an average price target of $52.25.

TTM Technologies Stock Up 4.4%

TTMI opened at $45.28 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average price of $41.15 and a 200-day moving average price of $29.72. TTM Technologies, Inc. has a twelve month low of $15.77 and a twelve month high of $51.15. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 50.31 and a beta of 1.48.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The firm had revenue of $730.62 million during the quarter, compared to analysts’ expectations of $668.42 million. During the same period in the previous year, the company earned $0.39 earnings per share. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Equities research analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

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

About TTM Technologies

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.