TTM Technologies, Inc. (NASDAQ:TTMI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 67.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 297,052 shares of the technology company's stock after selling 603,969 shares during the period. Bank of America Corp DE owned about 0.29% of TTM Technologies worth $7,352,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TTMI. Franklin Resources Inc. increased its stake in shares of 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 purchasing an additional 1,648,017 shares during the period. Victory Capital Management Inc. boosted its stake in shares of 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 buying an additional 781,058 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of TTM Technologies during the 4th quarter valued at $19,040,000. Massachusetts Financial Services Co. MA raised its holdings in shares of TTM Technologies by 50.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after purchasing an additional 515,015 shares in the last quarter. Finally, Norges Bank bought a new position in TTM Technologies in the 4th quarter worth $8,610,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Daniel J. Weber sold 20,170 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total transaction of $595,216.70. Following the transaction, the executive vice president now owns 74,983 shares of the company's stock, valued at approximately $2,212,748.33. The trade was a 21.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Douglas L. Soder sold 24,972 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total value of $749,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,026 shares in the company, valued at $5,190,780. This trade represents a 12.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,142 shares of company stock worth $1,639,577. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

TTM Technologies Price Performance

Shares of TTMI traded down $0.06 during midday trading on Friday, hitting $29.82. 78,004 shares of the company traded hands, compared to its average volume of 771,002. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The stock has a 50-day moving average of $23.10 and a 200-day moving average of $24.05. The firm has a market cap of $3.03 billion, a P/E ratio of 55.16 and a beta of 1.20. TTM Technologies, Inc. has a one year low of $15.77 and a one year high of $30.41.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.11. The business 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 business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.28 earnings per share. As a group, sell-side analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies announced that its Board of Directors has authorized a share repurchase program on Friday, May 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 3.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.