Allianz Asset Management GmbH lifted its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 86.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,100 shares of the technology company's stock after buying an additional 59,035 shares during the period. Allianz Asset Management GmbH owned about 0.13% of TTM Technologies worth $2,607,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of TTMI. Quadrant Capital Group LLC grew its stake in shares of TTM Technologies by 8.5% in the 4th quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock valued at $139,000 after buying an additional 442 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of TTM Technologies by 4.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock worth $345,000 after buying an additional 555 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of TTM Technologies by 0.5% during the 1st quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock worth $2,268,000 after buying an additional 567 shares in the last quarter. CWM LLC lifted its position in shares of TTM Technologies by 14.4% during the 1st quarter. CWM LLC now owns 4,501 shares of the technology company's stock worth $92,000 after buying an additional 567 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of TTM Technologies by 3.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,797 shares of the technology company's stock worth $490,000 after buying an additional 602 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total transaction of $749,160.00. Following the completion of the transaction, the executive vice president directly owned 173,026 shares of the company's stock, valued at approximately $5,190,780. The trade was a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tom Clapprood sold 10,000 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the sale, the insider directly owned 34,037 shares of the company's stock, valued at approximately $1,004,091.50. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,226 shares of company stock worth $3,504,492 in the last 90 days. Company insiders own 1.30% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Truist Financial lifted their price objective on shares of TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Stifel Nicolaus lifted their price objective on shares of TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday. Needham & Company LLC lifted their price objective on shares of TTM Technologies from $43.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday. Finally, B. Riley lifted their price objective on shares of TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, TTM Technologies presently has an average rating of "Buy" and an average target price of $52.25.
View Our Latest Stock Report on TTMI
TTM Technologies Stock Down 8.3%
Shares of NASDAQ:TTMI traded down $3.91 during trading on Friday, reaching $43.34. 5,240,548 shares of the stock traded hands, compared to its average volume of 1,213,698. The stock has a 50-day moving average of $39.40 and a two-hundred day moving average of $28.96. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $51.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.75 and a current ratio of 2.07. The stock has a market cap of $4.40 billion, a P/E ratio of 48.16 and a beta of 1.46.
TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.06. The company had revenue of $730.62 million for the quarter, compared to the consensus estimate of $668.42 million. TTM Technologies had a net margin of 3.52% and a return on equity of 11.93%. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, sell-side analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.
TTM Technologies announced that its board has approved a stock repurchase plan on Friday, May 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.
About TTM Technologies
(
Free Report)
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.
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