Ameriprise Financial Inc. Sells 18,439 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Ameriprise Financial Inc. trimmed its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 231,628 shares of the technology company's stock after selling 18,439 shares during the quarter. Ameriprise Financial Inc. owned 0.23% of TTM Technologies worth $5,733,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its stake in TTM Technologies by 59.8% in the 3rd quarter. Barclays PLC now owns 407,524 shares of the technology company's stock worth $7,437,000 after acquiring an additional 152,456 shares during the last quarter. KBC Group NV increased its stake in TTM Technologies by 47.4% in the 4th quarter. KBC Group NV now owns 4,404 shares of the technology company's stock worth $109,000 after acquiring an additional 1,416 shares during the last quarter. Hantz Financial Services Inc. bought a new position in TTM Technologies in the 4th quarter worth about $678,000. D Orazio & Associates Inc. bought a new position in TTM Technologies in the 4th quarter worth about $1,768,000. Finally, Empowered Funds LLC increased its stake in TTM Technologies by 2.2% in the 4th quarter. Empowered Funds LLC now owns 556,986 shares of the technology company's stock worth $13,785,000 after acquiring an additional 11,776 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Stock Up 0.3%

Shares of NASDAQ:TTMI traded up $0.08 during trading on Wednesday, hitting $29.86. The stock had a trading volume of 272,289 shares, compared to its average volume of 771,050. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $30.41. The company has a market capitalization of $3.03 billion, a PE ratio of 55.46 and a beta of 1.20. The firm's fifty day moving average is $22.83 and its 200 day moving average is $23.97. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted 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. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The company had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. During the same quarter last year, the company earned $0.28 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its Board of Directors has approved a stock buyback 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total transaction of $749,160.00. Following the transaction, the executive vice president now directly owns 173,026 shares in the company, valued at approximately $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dale Martin Knecht sold 10,000 shares of TTM Technologies stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.52, for a total value of $295,200.00. Following the transaction, the senior vice president now owns 76,346 shares in the company, valued at $2,253,733.92. This trade represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,642 shares of company stock valued at $1,651,737. Corporate insiders own 1.30% of the company's stock.

TTM Technologies Company 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.