Emerald Advisers LLC Acquires 367,798 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Emerald Advisers LLC boosted its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 34.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,439,931 shares of the technology company's stock after purchasing an additional 367,798 shares during the quarter. TTM Technologies comprises approximately 1.3% of Emerald Advisers LLC's holdings, making the stock its 25th largest position. Emerald Advisers LLC owned about 1.42% of TTM Technologies worth $29,533,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. USA Financial Formulas lifted its position in shares of TTM Technologies by 119.1% in the 1st quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock worth $46,000 after acquiring an additional 1,216 shares during the period. Sterling Capital Management LLC lifted its position in shares of TTM Technologies by 808.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock worth $79,000 after acquiring an additional 2,831 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of TTM Technologies in the 4th quarter worth approximately $89,000. Quadrant Capital Group LLC lifted its position in shares of TTM Technologies by 8.5% in the 4th quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock worth $139,000 after acquiring an additional 442 shares during the period. Finally, State of Wyoming lifted its position in shares of TTM Technologies by 103.3% in the 4th quarter. State of Wyoming now owns 5,708 shares of the technology company's stock worth $141,000 after acquiring an additional 2,900 shares during the period. Institutional investors own 95.79% of the company's stock.

TTM Technologies Price Performance

TTMI stock traded up $0.23 during midday trading on Friday, reaching $44.11. 1,091,848 shares of the company's stock traded hands, compared to its average volume of 890,710. The company has a 50-day simple moving average of $34.33 and a two-hundred day simple moving average of $26.92. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $45.00. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 58.81 and a beta of 1.46. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its earnings results 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 company had revenue of $648.67 million during the quarter, compared to analysts' expectations 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 for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. On average, analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its board has authorized a stock buyback program on Friday, May 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 3.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

TTMI has been the subject of a number of research reports. Truist Financial raised their price objective on TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Stifel Nicolaus restated a "buy" rating and set a $40.00 target price (up previously from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Wall Street Zen downgraded TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. B. Riley raised their target price on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. 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 report on Friday, June 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $41.75.

Insider Buying and Selling at TTM Technologies

In related news, COO Philip Titterton sold 23,486 shares of TTM Technologies stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $36.39, for a total transaction of $854,655.54. Following the completion of the sale, the chief operating officer directly owned 123,338 shares of the company's stock, valued at $4,488,269.82. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the sale, the executive vice president directly owned 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. Insiders sold 108,226 shares of company stock valued at $3,504,492 over the last quarter. 1.30% of the stock is owned by corporate 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.