Edgestream Partners L.P. Purchases New Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Edgestream Partners L.P. purchased a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 92,574 shares of the technology company's stock, valued at approximately $1,899,000. Edgestream Partners L.P. owned 0.09% of TTM Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TTMI. USA Financial Formulas boosted its position in shares of TTM Technologies by 119.1% during the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock worth $46,000 after buying an additional 1,216 shares during the period. Sterling Capital Management LLC raised its stake in shares of TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock valued at $79,000 after acquiring an additional 2,831 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of TTM Technologies in the fourth quarter valued at $89,000. CWM LLC raised its stake in shares of TTM Technologies by 14.4% in the first quarter. CWM LLC now owns 4,501 shares of the technology company's stock valued at $92,000 after acquiring an additional 567 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of TTM Technologies by 8.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock valued at $139,000 after acquiring an additional 442 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TTMI has been the topic of several analyst reports. Stifel Nicolaus reiterated a "buy" rating and issued a $40.00 price objective (up from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th. Wall Street Zen cut TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Truist Financial increased their price objective on TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 7th. B. Riley increased their price objective on TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Needham & Company LLC raised their price target on TTM Technologies from $35.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, TTM Technologies presently has an average rating of "Buy" and a consensus price target of $45.25.

Insider Buying and Selling at TTM Technologies

In other news, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total transaction of $749,160.00. Following the sale, the executive vice president owned 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 this link. Also, insider Tom Clapprood sold 10,000 shares of TTM Technologies stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $29.50, for a total value of $295,000.00. Following the sale, the insider owned 34,037 shares in the company, valued at $1,004,091.50. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,226 shares of company stock valued at $3,504,492. 1.30% of the stock is owned by insiders.

TTM Technologies Stock Down 2.6%

TTM Technologies stock traded down $1.19 during midday trading on Friday, reaching $45.03. The company's stock had a trading volume of 2,968,928 shares, compared to its average volume of 913,487. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $47.63. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.58. The company has a market cap of $4.58 billion, a P/E ratio of 60.04 and a beta of 1.46. The business has a 50-day simple moving average of $35.93 and a 200-day simple moving average of $27.47.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings results 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 10.75% and a net margin of 3.09%. The company had revenue of $648.67 million for the quarter, compared to analysts' expectations of $621.44 million. During the same period last year, the firm earned $0.28 earnings per share. TTM Technologies's quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies declared that its Board of Directors has initiated a stock buyback plan on Friday, May 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership 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.