Massachusetts Financial Services Co. MA Decreases Stake in TTM Technologies, Inc. (NASDAQ:TTMI)

Massachusetts Financial Services Co. MA cut its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 12.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,345,270 shares of the technology company's stock after selling 188,896 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.32% of TTM Technologies worth $27,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TTMI. Proficio Capital Partners LLC purchased a new stake in TTM Technologies in the 4th quarter worth approximately $295,000. Raymond James Financial Inc. purchased a new stake in TTM Technologies in the 4th quarter worth approximately $3,289,000. Swiss National Bank lifted its holdings in TTM Technologies by 0.9% in the 4th quarter. Swiss National Bank now owns 200,500 shares of the technology company's stock worth $4,962,000 after buying an additional 1,700 shares during the period. Cibc World Markets Corp purchased a new stake in TTM Technologies in the 4th quarter worth approximately $234,000. Finally, Teacher Retirement System of Texas lifted its holdings in TTM Technologies by 21.9% in the 4th quarter. Teacher Retirement System of Texas now owns 76,291 shares of the technology company's stock worth $1,888,000 after buying an additional 13,690 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of TTM Technologies stock in a transaction on Friday, May 30th. The stock was sold at an average price of $29.50, for a total value of $295,000.00. Following the completion of the sale, the insider owned 34,037 shares of the company's stock, valued at approximately $1,004,091.50. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel J. Weber sold 20,170 shares of TTM Technologies stock in a transaction on 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 directly owned 74,983 shares of the company's stock, valued at approximately $2,212,748.33. The trade was a 21.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,226 shares of company stock worth $3,504,492. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TTMI. B. Riley increased their price objective on TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus restated a "buy" rating and issued a $40.00 target price (up previously from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th. Truist Financial raised their target price on TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Needham & Company LLC raised their target price on TTM Technologies from $35.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Wall Street Zen cut TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $45.25.

TTM Technologies Stock Down 2.6%

TTMI stock traded down $1.19 on Friday, reaching $45.03. 2,968,928 shares of the company traded hands, compared to its average volume of 913,382. TTM Technologies, Inc. has a one year low of $15.77 and a one year high of $47.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.75. The company has a market cap of $4.58 billion, a P/E ratio of 60.04 and a beta of 1.46. The firm has a fifty day simple moving average of $36.29 and a 200-day simple moving average of $27.63.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The company had revenue of $648.67 million for the quarter, compared to analysts' expectations of $621.44 million. TTM Technologies had a net margin of 3.09% and a return on equity of 10.75%. TTM Technologies's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Research analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its Board of Directors has approved a stock buyback plan on Friday, May 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

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.