PNC Financial Services Group Inc. Boosts Holdings in TTM Technologies, Inc. $TTMI

PNC Financial Services Group Inc. grew its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 227.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,295 shares of the technology company’s stock after acquiring an additional 5,064 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TTM Technologies were worth $150,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas increased its stake 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 worth $46,000 after buying an additional 1,216 shares during the period. Sterling Capital Management LLC grew its position in shares of TTM Technologies by 808.9% in the 4th 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 period. CWM LLC boosted its stake in TTM Technologies by 14.4% in the 1st quarter. CWM LLC now owns 4,501 shares of the technology company’s stock worth $92,000 after purchasing an additional 567 shares in the last quarter. State of Wyoming boosted its stake in TTM Technologies by 103.3% in the 4th quarter. State of Wyoming now owns 5,708 shares of the technology company’s stock worth $141,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Group One Trading LLC bought a new position in TTM Technologies during the fourth quarter valued at approximately $200,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TTMI has been the topic of several recent research reports. B. Riley increased their price target on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Wall Street Zen raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Stifel Nicolaus raised their target price on shares of TTM Technologies from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of TTM Technologies in a report on Friday. Finally, 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 research note on Monday, July 7th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TTM Technologies has a consensus rating of “Buy” and an average price target of $52.25.

TTM Technologies Trading Up 0.0%

Shares of TTMI opened at $41.82 on Tuesday. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $51.15. The company has a 50-day moving average of $42.48 and a 200 day moving average of $30.57. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 46.47 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 1.72.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The business had revenue of $730.62 million during the quarter, compared to analyst estimates of $668.42 million. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. On average, research analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current year.

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

Insider Activity

In other news, insider Steven Spoto sold 3,484 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $46.58, for a total value of $162,284.72. Following the completion of the transaction, the insider directly owned 28,649 shares in the company, valued at $1,334,470.42. This trade represents a 10.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tom Clapprood sold 15,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $44.68, for a total transaction of $670,200.00. Following the completion of the sale, the insider owned 23,531 shares in the company, valued at $1,051,365.08. The trade was a 38.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,568 shares of company stock worth $2,697,400. Insiders own 1.30% of the company’s stock.

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.