First Trust Advisors LP Sells 53,216 Shares of TTM Technologies, Inc. $TTMI

First Trust Advisors LP reduced its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 26.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,896 shares of the technology company's stock after selling 53,216 shares during the period. First Trust Advisors LP owned approximately 0.15% of TTM Technologies worth $14,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft acquired a new stake in shares of TTM Technologies during the first quarter worth $1,539,000. ROSS JOHNSON & Associates LLC acquired a new position in shares of TTM Technologies in the first quarter valued at about $50,000. Meeder Asset Management Inc. increased its position in TTM Technologies by 8.4% during the first quarter. Meeder Asset Management Inc. now owns 9,710 shares of the technology company's stock worth $946,000 after acquiring an additional 752 shares during the period. Parallel Advisors LLC raised its stake in TTM Technologies by 36.2% in the 1st quarter. Parallel Advisors LLC now owns 327 shares of the technology company's stock worth $32,000 after purchasing an additional 87 shares in the last quarter. Finally, Trivest Advisors Ltd acquired a new stake in TTM Technologies in the 1st quarter worth about $3,069,000. 95.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Daniel J. Weber sold 8,533 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,790,223.40. Following the completion of the transaction, the executive vice president owned 86,088 shares of the company's stock, valued at approximately $18,061,262.40. The trade was a 9.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dale Martin Knecht sold 6,754 shares of the company's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.79, for a total value of $1,416,921.66. Following the sale, the senior vice president owned 68,350 shares of the company's stock, valued at approximately $14,339,146.50. This represents a 8.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,043 shares of company stock valued at $17,191,859 over the last three months. 1.30% of the stock is owned by corporate insiders.

TTM Technologies Trading Up 13.5%

Shares of TTM Technologies stock opened at $115.51 on Friday. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 62.44 and a beta of 2.10. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 0.50. TTM Technologies, Inc. has a 12-month low of $39.20 and a 12-month high of $223.83. The firm's 50-day moving average price is $169.05 and its two-hundred day moving average price is $132.59.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. TTM Technologies had a net margin of 6.29% and a return on equity of 13.70%. The company had revenue of $845.98 million during the quarter, compared to analysts' expectations of $789.84 million. During the same period in the previous year, the company earned $0.50 EPS. The business's revenue for the quarter was up 30.4% compared to the same quarter last year. On average, analysts forecast that TTM Technologies, Inc. will post 3.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on TTMI. Truist Financial increased their target price on shares of TTM Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Zacks Research downgraded shares of TTM Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. B. Riley Financial boosted their price target on TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Wall Street Zen downgraded TTM Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Finally, Needham & Company LLC raised their price objective on TTM Technologies from $208.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $212.00.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company's product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.

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