Ameriprise Financial Inc. Reduces Stake in TTM Technologies, Inc. (NASDAQ:TTMI)

Ameriprise Financial Inc. decreased its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,628 shares of the technology company's stock after selling 18,439 shares during the period. Ameriprise Financial Inc. owned approximately 0.23% of TTM Technologies worth $5,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC boosted its stake in shares of TTM Technologies by 2.8% in the 4th quarter. Algert Global LLC now owns 333,259 shares of the technology company's stock valued at $8,248,000 after purchasing an additional 9,083 shares in the last quarter. AXA S.A. purchased a new position in TTM Technologies in the 4th quarter worth approximately $321,000. Schonfeld Strategic Advisors LLC bought a new position in shares of TTM Technologies in the fourth quarter worth approximately $1,025,000. Emerald Mutual Fund Advisers Trust raised its holdings in TTM Technologies by 5.0% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 582,525 shares of the technology company's stock valued at $14,417,000 after buying an additional 27,980 shares during the last quarter. Finally, Lido Advisors LLC increased its position in shares of TTM Technologies by 36.3% in the fourth quarter. Lido Advisors LLC now owns 14,833 shares of the technology company's stock valued at $367,000 after acquiring an additional 3,952 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

TTM Technologies Stock Down 0.3%

Shares of NASDAQ:TTMI traded down $0.08 during trading on Thursday, reaching $29.88. 576,136 shares of the stock traded hands, compared to its average volume of 773,730. The stock has a 50-day moving average of $23.10 and a two-hundred day moving average of $24.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $30.41. The stock has a market cap of $3.04 billion, a P/E ratio of 55.33 and a beta of 1.20.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its earnings results 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 net margin of 2.30% and a return on equity of 9.74%. The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.28 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 of Directors has initiated a share buyback program on Friday, May 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TTMI shares. Truist Financial lowered their price target on TTM Technologies from $38.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. B. Riley upped 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. Needham & Company LLC increased 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. Finally, Stifel Nicolaus initiated coverage on shares of TTM Technologies in a research report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price target for the company.

Insider Buying and Selling

In related news, SVP Dale Martin Knecht sold 10,000 shares of the 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 completion of the sale, the senior vice president now directly owns 76,346 shares of the company's stock, valued at approximately $2,253,733.92. This represents a 11.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Douglas L. Soder sold 24,972 shares of the 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 completion of the sale, the executive vice president now directly owns 173,026 shares of the company's stock, valued at approximately $5,190,780. This trade represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,642 shares of company stock valued at $1,651,737. 1.30% of the stock is owned by insiders.

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.