TTM Technologies, Inc. (NASDAQ:TTMI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 697,906 shares of the technology company's stock after selling 34,829 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of TTM Technologies worth $14,314,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Franklin Resources Inc. grew 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 acquiring an additional 1,648,017 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of TTM Technologies by 50.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after acquiring an additional 515,015 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of TTM Technologies by 5.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,312,770 shares of the technology company's stock valued at $32,491,000 after acquiring an additional 63,230 shares in the last quarter. Portolan Capital Management LLC increased its holdings in shares of TTM Technologies by 22.6% during the fourth quarter. Portolan Capital Management LLC now owns 1,301,342 shares of the technology company's stock valued at $32,208,000 after acquiring an additional 239,972 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in TTM Technologies by 7.8% during the fourth quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company's stock worth $28,700,000 after buying an additional 84,137 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

Wall Street Analyst Weigh In

TTMI has been the subject of a number of recent analyst reports. Wall Street Zen downgraded TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. B. Riley upped their price target on TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday. Stifel Nicolaus reissued a "buy" rating and set a $40.00 price objective (up previously from $33.00) on shares of TTM Technologies in a report on Monday, June 16th. Needham & Company LLC upped their target price on TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Finally, Truist Financial upped their target price on TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, TTM Technologies currently has an average rating of "Buy" and an average target price of $45.25.

TTM Technologies Stock Performance

Shares of TTMI traded down $1.19 during trading hours on Friday, hitting $45.03. The stock had a trading volume of 2,968,928 shares, compared to its average volume of 913,382. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.75. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $47.63. The firm has a market capitalization of $4.58 billion, a PE ratio of 60.04 and a beta of 1.46. The stock has a fifty day moving average price of $36.29 and a 200 day moving average price of $27.63.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The business had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. The business's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. Analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current year.

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

Insider Activity

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the sale, the insider 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel J. Weber sold 20,170 shares of the stock in a transaction 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 sale, the executive vice president directly owned 74,983 shares in the company, valued at $2,212,748.33. This trade represents a 21.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,226 shares of company stock valued at $3,504,492. 1.30% of the stock is currently owned by corporate 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.