BNP Paribas Financial Markets Buys 27,780 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

BNP Paribas Financial Markets lifted its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 45.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,969 shares of the technology company's stock after buying an additional 27,780 shares during the quarter. BNP Paribas Financial Markets owned about 0.09% of TTM Technologies worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of TTMI. USA Financial Formulas purchased a new position in shares of TTM Technologies during the 4th quarter worth approximately $25,000. Smartleaf Asset Management LLC boosted its position in shares of TTM Technologies by 670.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after purchasing an additional 1,220 shares in the last quarter. Sterling Capital Management LLC grew its stake 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 purchasing an additional 2,831 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in TTM Technologies in the fourth quarter worth $83,000. Finally, Meeder Asset Management Inc. purchased a new position in TTM Technologies during the fourth quarter valued at $89,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Stock Up 0.8%

Shares of NASDAQ:TTMI traded up $0.23 on Thursday, hitting $29.13. 62,145 shares of the company traded hands, compared to its average volume of 768,088. The stock has a 50 day simple moving average of $22.29 and a 200-day simple moving average of $23.84. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.96 billion, a PE ratio of 53.91 and a beta of 1.20. TTM Technologies, Inc. has a 52 week low of $15.77 and a 52 week high of $30.41.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.11. The business had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. TTM Technologies's revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. As a group, research analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies announced that its Board of Directors has initiated a stock buyback program on Friday, May 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at TTM Technologies

In other news, EVP Daniel J. Weber sold 20,170 shares of TTM Technologies stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the completion of the sale, the executive vice president now directly owns 74,983 shares in the company, valued at $2,212,748.33. The trade was a 21.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Dale Martin Knecht sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the transaction, the senior vice president now directly owns 76,346 shares of the company's stock, valued at $2,253,733.92. The trade was a 11.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,642 shares of company stock valued at $1,651,737 over the last 90 days. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TTMI. Truist Financial reduced their target price on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC boosted their price objective on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus assumed coverage on shares of TTM Technologies in a research note on Tuesday, February 11th. They set a "buy" rating and a $33.00 target price for the company. Finally, B. Riley lifted their target price 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.

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.