Millennium Management LLC Purchases 145,917 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Millennium Management LLC raised its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 520,666 shares of the technology company's stock after buying an additional 145,917 shares during the quarter. Millennium Management LLC owned about 0.51% of TTM Technologies worth $12,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTMI. Barclays PLC boosted its holdings in shares of TTM Technologies by 59.8% in the 3rd quarter. Barclays PLC now owns 407,524 shares of the technology company's stock worth $7,437,000 after purchasing an additional 152,456 shares in the last quarter. KBC Group NV boosted its holdings in shares of TTM Technologies by 47.4% in the 4th quarter. KBC Group NV now owns 4,404 shares of the technology company's stock worth $109,000 after purchasing an additional 1,416 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of TTM Technologies in the 4th quarter worth about $678,000. D Orazio & Associates Inc. purchased a new position in shares of TTM Technologies in the 4th quarter worth about $1,768,000. Finally, Empowered Funds LLC boosted its holdings in shares of TTM Technologies by 2.2% in the 4th quarter. Empowered Funds LLC now owns 556,986 shares of the technology company's stock worth $13,785,000 after purchasing an additional 11,776 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on TTM Technologies in a report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 price objective for the company. Needham & Company LLC upped their price objective on TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. B. Riley upped their price objective on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Truist Financial cut their price objective on TTM Technologies from $38.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, May 1st.

TTM Technologies Trading Up 0.5%

TTMI stock traded up $0.14 during trading on Thursday, hitting $30.10. 119,039 shares of the company traded hands, compared to its average volume of 770,548. The firm has a market capitalization of $3.06 billion, a PE ratio of 55.74 and a beta of 1.20. TTM Technologies, Inc. has a 1 year low of $15.77 and a 1 year high of $30.56. The company has a 50-day moving average of $22.97 and a 200-day moving average of $24.01. 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 (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 the consensus estimate of $0.39 by $0.11. The company had revenue of $648.67 million during the quarter, compared to analysts' expectations of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. TTM Technologies's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. Analysts predict 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 share repurchase plan on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to reacquire 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 stock is undervalued.

Insider Activity at TTM Technologies

In other TTM Technologies news, EVP Douglas L. Soder sold 24,972 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total transaction of $749,160.00. Following the completion of the transaction, the executive vice president now owns 173,026 shares of the company's stock, valued at $5,190,780. This represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the transaction, the executive vice president now directly owns 74,983 shares of the company's stock, valued at $2,212,748.33. The trade was a 21.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,642 shares of company stock worth $1,651,737 in the last ninety days. 1.30% of the stock is owned by company insiders.

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.