Hsbc Holdings PLC Cuts Position in TTM Technologies, Inc. $TTMI

Key Points

• Hsbc Holdings PLC has reduced its stake in TTM Technologies, Inc. by 33.4%, owning 52,306 shares valued at approximately $1.07 million after selling 26,173 shares in the first quarter.
• Several hedge funds have increased their positions in TTM Technologies, with USA Financial Formulas raising its stake by 119.1% during the first quarter.
• TTM Technologies reported a quarterly earnings per share (EPS) of $0.58, surpassing analysts' expectations, and has a share buyback program authorized for up to $100 million.

Hsbc Holdings PLC reduced its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 33.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 52,306 shares of the technology company's stock after selling 26,173 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of TTM Technologies worth $1,067,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TTM Technologies by 4.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock worth $345,000 after acquiring an additional 555 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of TTM Technologies by 0.5% during the 1st quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock worth $2,268,000 after acquiring an additional 567 shares during the last quarter. CWM LLC lifted its holdings in shares of TTM Technologies by 14.4% during the 1st quarter. CWM LLC now owns 4,501 shares of the technology company's stock worth $92,000 after acquiring an additional 567 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of TTM Technologies by 3.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,797 shares of the technology company's stock worth $490,000 after acquiring an additional 602 shares during the last quarter. Finally, USA Financial Formulas lifted its holdings in shares of TTM Technologies by 119.1% during 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 last quarter. 95.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TTMI. Wall Street Zen raised shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Needham & Company LLC reissued a "buy" rating and issued a $56.00 price target on shares of TTM Technologies in a research note on Friday, August 15th. Stifel Nicolaus boosted their price target on shares of TTM Technologies from $40.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Truist Financial boosted their price target on shares of TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, B. Riley boosted their price target on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, TTM Technologies currently has a consensus rating of "Buy" and a consensus target price of $52.25.

TTM Technologies Trading Up 1.6%

Shares of TTMI stock traded up $0.71 during mid-day trading on Wednesday, reaching $45.67. The stock had a trading volume of 864,355 shares, compared to its average volume of 1,324,035. The stock's 50-day moving average price is $44.02 and its two-hundred day moving average price is $31.91. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $51.15. The firm has a market capitalization of $4.72 billion, a PE ratio of 50.81 and a beta of 1.57. The company has a current ratio of 2.03, a quick ratio of 1.72 and a debt-to-equity ratio of 0.56.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.06. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The firm had revenue of $730.62 million for the quarter, compared to analysts' expectations of $668.42 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. 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 share buyback program on Friday, May 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at TTM Technologies

In related news, EVP Catherine A. Gridley sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $40.46, for a total transaction of $1,011,500.00. Following the transaction, the executive vice president owned 101,986 shares in the company, valued at $4,126,353.56. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Philip Titterton sold 23,486 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $36.39, for a total transaction of $854,655.54. Following the transaction, the chief operating officer owned 123,338 shares in the company, valued at $4,488,269.82. This represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,561 shares of company stock valued at $4,437,320 over the last three months. Corporate insiders own 1.30% of the company's stock.

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.