Focus Partners Wealth Purchases New Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Focus Partners Wealth purchased a new position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 31,601 shares of the technology company's stock, valued at approximately $782,000.

A number of other institutional investors also recently made changes to their positions in TTMI. Franklin Resources Inc. raised its holdings 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 worth $48,454,000 after acquiring an additional 1,648,017 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of TTM Technologies by 391.6% in the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock worth $24,268,000 after acquiring an additional 781,058 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of TTM Technologies in the fourth quarter worth $19,040,000. Massachusetts Financial Services Co. MA raised its holdings in shares of TTM Technologies by 50.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock worth $37,971,000 after acquiring an additional 515,015 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of TTM Technologies in the fourth quarter worth $8,610,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TTM Technologies news, SVP Dale Martin Knecht sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the sale, the senior vice president now directly owns 76,346 shares in the company, valued at $2,253,733.92. This represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Daniel J. Weber sold 20,170 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total value of $595,216.70. Following the completion of the sale, the executive vice president now directly owns 74,983 shares of the company's stock, valued at $2,212,748.33. The trade was a 21.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,642 shares of company stock worth $1,651,737 over the last three months. 1.30% of the stock is owned by insiders.

TTM Technologies Trading Down 1.5%

NASDAQ:TTMI traded down $0.45 on Friday, hitting $28.59. 532,978 shares of the stock were exchanged, compared to its average volume of 772,999. The stock has a market cap of $2.91 billion, a PE ratio of 52.94 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $22.56 and a 200-day moving average of $23.92. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $30.41.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.39 by $0.11. The company had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The firm's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. As a group, equities analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

TTMI has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Truist Financial dropped their target price on TTM Technologies from $38.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. B. Riley upped their target price on TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus initiated coverage on TTM Technologies in a research note on Tuesday, February 11th. They issued a "buy" rating and a $33.00 target price for the company.

About TTM Technologies

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.