TTM Technologies, Inc. (NASDAQ:TTMI) Stake Increased by Millennium Management LLC

Millennium Management LLC lifted its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 38.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 520,666 shares of the technology company's stock after buying an additional 145,917 shares during the period. Millennium Management LLC owned about 0.51% of TTM Technologies worth $12,886,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Northern Trust Corp increased its position in TTM Technologies by 7.8% during the fourth quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company's stock worth $28,700,000 after buying an additional 84,137 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of TTM Technologies by 391.6% during the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock worth $24,268,000 after purchasing an additional 781,058 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of TTM Technologies by 5.0% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 582,525 shares of the technology company's stock worth $14,417,000 after purchasing an additional 27,980 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in TTM Technologies by 33.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,122 shares of the technology company's stock valued at $993,000 after acquiring an additional 9,980 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in TTM Technologies by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 494,446 shares of the technology company's stock valued at $12,238,000 after acquiring an additional 13,918 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

TTM Technologies Stock Up 0.3%

Shares of TTMI stock traded up $0.08 during trading hours on Wednesday, reaching $29.86. The company had a trading volume of 299,400 shares, compared to its average volume of 771,187. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99. TTM Technologies, Inc. has a twelve month low of $15.77 and a twelve month high of $30.41. The company has a market capitalization of $3.03 billion, a P/E ratio of 55.35 and a beta of 1.20. The stock's fifty day simple moving average is $22.83 and its 200 day simple moving average is $23.97.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its 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 business had revenue of $648.67 million for the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, sell-side 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 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 buy up to 3.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

TTMI has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus initiated coverage on TTM Technologies in a report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 target price on the stock. B. Riley lifted their target price on TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Truist Financial reduced their target price on TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, May 1st.

Insider Activity

In related news, EVP Daniel J. Weber sold 20,170 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 74,983 shares of the company's stock, valued at $2,212,748.33. This represents a 21.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total value of $749,160.00. Following the sale, the executive vice president now directly owns 173,026 shares in the company, valued at $5,190,780. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,642 shares of company stock valued at $1,651,737. 1.30% of the stock is currently owned by insiders.

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.