Expect Equity LLC Purchases New Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Expect Equity LLC acquired a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 130,566 shares of the technology company's stock, valued at approximately $3,232,000. TTM Technologies comprises approximately 3.4% of Expect Equity LLC's portfolio, making the stock its 8th biggest holding. Expect Equity LLC owned approximately 0.13% of TTM Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TTMI. Northern Trust Corp raised its position in shares of TTM Technologies by 7.8% during the fourth 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 during the period. Victory Capital Management Inc. grew its stake in shares of TTM Technologies by 391.6% in the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock worth $24,268,000 after acquiring an additional 781,058 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of TTM Technologies by 5.0% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 582,525 shares of the technology company's stock worth $14,417,000 after buying an additional 27,980 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of TTM Technologies by 33.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,122 shares of the technology company's stock valued at $993,000 after acquiring an additional 9,980 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in TTM Technologies by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 494,446 shares of the technology company's stock valued at $12,238,000 after purchasing an additional 13,918 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

Wall Street Analyst Weigh In

TTMI has been the topic of several research reports. Truist Financial lowered their price objective 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. Stifel Nicolaus began coverage on TTM Technologies in a research report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 target price for the company. B. Riley increased their price target on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC upped their price objective on shares of TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 1st.

Insider Activity

In other TTM Technologies news, SVP Dale Martin Knecht sold 3,848 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.01, for a total value of $100,086.48. Following the completion of the sale, the senior vice president now owns 86,346 shares of the company's stock, valued at $2,245,859.46. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Philip Titterton sold 24,792 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $25.56, for a total transaction of $633,683.52. Following the transaction, the chief operating officer now owns 157,528 shares in the company, valued at $4,026,415.68. The trade was a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,600 shares of company stock worth $1,310,642. 1.30% of the stock is currently owned by corporate insiders.

TTM Technologies Price Performance

Shares of TTMI stock traded up $2.05 during trading hours on Monday, reaching $28.90. The stock had a trading volume of 1,281,991 shares, compared to its average volume of 765,016. The firm has a market capitalization of $2.94 billion, a PE ratio of 53.52 and a beta of 1.20. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $30.41. The stock's fifty day simple moving average is $21.27 and its 200 day simple moving average is $23.46. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The company's revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. On average, equities research analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies declared that its board has approved a stock buyback plan on Friday, May 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board 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.