TTM Technologies, Inc. (NASDAQ:TTMI) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TTMI. Franklin Resources Inc. boosted its position in TTM Technologies by 532.1% in the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock valued at $48,454,000 after buying an additional 1,648,017 shares during the last quarter. Victory Capital Management Inc. lifted its stake in TTM Technologies by 391.6% during the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock valued at $24,268,000 after acquiring an additional 781,058 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of TTM Technologies in the 4th quarter valued at $19,040,000. Massachusetts Financial Services Co. MA increased its stake in shares of TTM Technologies by 50.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock worth $37,971,000 after acquiring an additional 515,015 shares during the period. Finally, Norges Bank acquired a new stake in shares of TTM Technologies in the fourth quarter worth $8,610,000. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Stock Performance

TTMI traded up $1.19 on Tuesday, reaching $29.78. The stock had a trading volume of 775,525 shares, compared to its average volume of 773,009. The business's 50-day moving average price is $22.68 and its two-hundred day moving average price is $23.93. 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, Inc. has a 12-month low of $15.77 and a 12-month high of $30.43. The company has a market cap of $3.03 billion, a P/E ratio of 55.15 and a beta of 1.20.

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 (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. The company 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%. TTM Technologies's revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. Sell-side analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies announced that its board has initiated a stock repurchase program on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to buy up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

TTMI has been the topic of several recent research reports. Needham & Company LLC upped their price target 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. B. Riley raised their target price 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 initiated coverage on TTM Technologies in a research report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price target for the company. Finally, Truist Financial lowered their price objective on TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st.

Insider Activity at TTM Technologies

In other TTM Technologies news, SVP Dale Martin Knecht sold 10,000 shares of the firm'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 value 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. This trade represents a 11.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel J. Weber sold 20,170 shares of the company's 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 owns 74,983 shares of the company's stock, valued at $2,212,748.33. This trade represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,642 shares of company stock valued at $1,651,737. 1.30% of the stock is owned by insiders.

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.