Focus Partners Wealth Makes New $782,000 Investment in TTM Technologies, Inc. (NASDAQ:TTMI)

Focus Partners Wealth purchased a new stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 31,601 shares of the technology company's stock, valued at approximately $782,000.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. grew its stake in TTM Technologies by 532.1% in the 4th 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 lifted its holdings in shares of TTM Technologies by 50.5% during the 4th 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 period. Loomis Sayles & Co. L P lifted its holdings in shares of TTM Technologies by 5.1% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,312,770 shares of the technology company's stock worth $32,491,000 after acquiring an additional 63,230 shares during the period. Portolan Capital Management LLC lifted its holdings in shares of TTM Technologies by 22.6% during the 4th quarter. Portolan Capital Management LLC now owns 1,301,342 shares of the technology company's stock worth $32,208,000 after acquiring an additional 239,972 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of TTM Technologies by 7.8% during the 4th quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company's stock worth $28,700,000 after acquiring an additional 84,137 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TTMI shares. B. Riley increased their price objective on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus began coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price objective on the stock. Truist Financial cut their price target on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Needham & Company LLC raised their price target on shares of TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 1st.

TTM Technologies Trading Up 0.9%

TTMI opened at $29.37 on Monday. The firm has a market capitalization of $2.98 billion, a P/E ratio of 54.39 and a beta of 1.20. The firm's 50 day moving average is $21.84 and its 200-day moving average is $23.72. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $30.41. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58.

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

TTM Technologies declared that its board has approved a share repurchase program on Friday, May 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 3.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Dale Martin Knecht sold 3,848 shares of TTM Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.01, for a total value of $100,086.48. Following the completion of the sale, the senior vice president now owns 86,346 shares in the company, valued at approximately $2,245,859.46. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $749,160.00. Following the completion of the sale, the executive vice president now owns 173,026 shares of the company's stock, valued at approximately $5,190,780. This trade represents a 12.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,950 shares of company stock worth $2,159,035. Insiders own 1.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.