Informed Momentum Co LLC Has $2.45 Million Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Key Points

• Informed Momentum Co LLC reduced its stake in TTM Technologies by 22.3%, owning 119,638 shares worth approximately $2.45 million after selling 34,298 shares in the first quarter.
• Several institutional investors, including USA Financial Formulas and PNC Financial Services Group Inc., significantly increased their holdings in TTM Technologies, indicating strong interest in the stock.
• TTM Technologies recently reported earnings of $0.58 EPS for the quarter, exceeding analysts' expectations, and announced a $100 million share repurchase plan, indicating confidence in its stock valuation.

Informed Momentum Co LLC lessened its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 22.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,638 shares of the technology company's stock after selling 34,298 shares during the quarter. Informed Momentum Co LLC owned approximately 0.12% of TTM Technologies worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in TTM Technologies in the 1st quarter valued at about $31,763,000. T. Rowe Price Investment Management Inc. purchased a new stake in TTM Technologies in the 4th quarter valued at about $19,040,000. Emerald Advisers LLC grew its holdings in TTM Technologies by 34.3% in the 1st quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock valued at $29,533,000 after buying an additional 367,798 shares during the period. Invesco Ltd. grew its holdings in TTM Technologies by 35.3% in the 1st quarter. Invesco Ltd. now owns 1,357,707 shares of the technology company's stock valued at $27,847,000 after buying an additional 354,342 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in TTM Technologies by 52.2% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 886,701 shares of the technology company's stock valued at $18,186,000 after buying an additional 304,176 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analyst Upgrades and Downgrades

TTMI has been the subject of several recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $56.00 price target on shares of TTM Technologies in a report on Friday. B. Riley lifted their price objective on TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wall Street Zen raised TTM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Truist Financial lifted their price objective on TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Stifel Nicolaus lifted their price objective on TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $52.25.

Insider Buying and Selling

In related news, SVP Dale Martin Knecht sold 7,487 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $39.01, for a total transaction of $292,067.87. Following the transaction, the senior vice president directly owned 59,947 shares of the company's stock, valued at approximately $2,338,532.47. The trade was a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Philip Titterton sold 23,486 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $36.39, for a total value of $854,655.54. Following the transaction, the chief operating officer directly owned 123,338 shares in the company, valued at $4,488,269.82. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,568 shares of company stock valued at $2,697,400 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

TTM Technologies Price Performance

Shares of TTM Technologies stock traded down $0.82 during trading on Friday, hitting $41.80. The stock had a trading volume of 3,586,606 shares, compared to its average volume of 2,883,624. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 1.72. The firm has a market cap of $4.32 billion, a P/E ratio of 46.44 and a beta of 1.48. The business has a fifty day moving average of $42.36 and a two-hundred day moving average of $30.41. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $51.15.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. The company had revenue of $730.62 million for the quarter, compared to analyst estimates of $668.42 million. TTM Technologies had a return on equity of 11.80% and a net margin of 3.52%. TTM Technologies's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. On average, sell-side analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.