Massachusetts Financial Services Co. MA Sells 188,896 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Massachusetts Financial Services Co. MA decreased its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,345,270 shares of the technology company's stock after selling 188,896 shares during the period. Massachusetts Financial Services Co. MA owned 1.32% of TTM Technologies worth $27,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in shares of TTM Technologies by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock worth $139,000 after buying an additional 442 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of TTM Technologies by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock worth $345,000 after buying an additional 555 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of TTM Technologies by 0.5% during the first quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock worth $2,268,000 after buying an additional 567 shares in the last quarter. CWM LLC increased its holdings in shares of TTM Technologies by 14.4% during the first quarter. CWM LLC now owns 4,501 shares of the technology company's stock worth $92,000 after buying an additional 567 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of TTM Technologies by 3.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,797 shares of the technology company's stock worth $490,000 after buying an additional 602 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

TTM Technologies Trading Down 5.1%

NASDAQ:TTMI traded down $2.43 on Tuesday, reaching $45.04. The company's stock had a trading volume of 3,269,913 shares, compared to its average volume of 943,121. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $48.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.75 and a current ratio of 2.07. The firm has a market cap of $4.58 billion, a PE ratio of 60.05 and a beta of 1.46. The business's 50-day moving average price is $36.29 and its two-hundred day moving average price is $27.65.

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

TTM Technologies declared that its board has approved a stock repurchase program on Friday, May 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other TTM Technologies news, SVP Dale Martin Knecht sold 7,487 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $39.01, for a total value of $292,067.87. Following the completion of the sale, the senior vice president directly owned 59,947 shares of the company's stock, valued at $2,338,532.47. The trade was a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tom Clapprood sold 10,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. Following the sale, the insider directly owned 34,037 shares of the company's stock, valued at $1,004,091.50. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,226 shares of company stock worth $3,504,492. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. B. Riley upped their price target on shares of TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Stifel Nicolaus reissued a "buy" rating and set a $40.00 target price (up from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Truist Financial increased their target price on shares of TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Needham & Company LLC increased their target price on shares of TTM Technologies from $35.00 to $43.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, Wall Street Zen downgraded shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $45.25.

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.