Natixis Advisors LLC Cuts Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Key Points

• Natixis Advisors LLC has significantly reduced its position in TTM Technologies by 56.7%, now holding 21,209 shares valued at $435,000 after selling 27,822 shares in Q1.
• Multiple institutional investors, including USA Financial Formulas and Sterling Capital Management LLC, have increased their stakes in TTM Technologies, reflecting positive investor sentiment.
• TTM Technologies reported a 20.7% revenue increase year-over-year for Q2, with earnings per share (EPS) of $0.58, exceeding analysts' expectations of $0.52.

Natixis Advisors LLC lessened its stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 56.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,209 shares of the technology company's stock after selling 27,822 shares during the period. Natixis Advisors LLC's holdings in TTM Technologies were worth $435,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. USA Financial Formulas boosted its stake in shares of TTM Technologies by 119.1% in the 1st quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock valued at $46,000 after purchasing an additional 1,216 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of TTM Technologies by 808.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock valued at $79,000 after purchasing an additional 2,831 shares in the last quarter. CWM LLC boosted its stake in shares of TTM Technologies by 14.4% in the 1st quarter. CWM LLC now owns 4,501 shares of the technology company's stock valued at $92,000 after purchasing an additional 567 shares in the last quarter. State of Wyoming boosted its stake in shares of TTM Technologies by 103.3% in the 4th quarter. State of Wyoming now owns 5,708 shares of the technology company's stock valued at $141,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Group One Trading LLC purchased a new stake in shares of TTM Technologies in the 4th quarter valued at $200,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of TTM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. 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 report on Thursday, July 17th. Needham & Company LLC upped their price target on shares of TTM Technologies from $43.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price target on shares of TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Truist Financial upped their price target on shares of TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a report on Monday, July 7th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, TTM Technologies has a consensus rating of "Buy" and a consensus target price of $52.25.

TTM Technologies Stock Performance

Shares of NASDAQ TTMI opened at $44.61 on Tuesday. The firm's 50-day moving average price is $41.44 and its 200-day moving average price is $29.90. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $51.15. The company has a quick ratio of 1.72, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.61 billion, a PE ratio of 49.57 and a beta of 1.48.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The company had revenue of $730.62 million for the quarter, compared to analysts' expectations of $668.42 million. During the same quarter last year, the business earned $0.39 EPS. The firm's revenue was up 20.7% compared to the same quarter last year. As a group, analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies announced that its board has authorized a stock repurchase plan on Friday, May 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at TTM Technologies

In related news, SVP Dale Martin Knecht sold 7,662 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $34.16, for a total value of $261,733.92. Following the completion of the transaction, the senior vice president directly owned 67,544 shares of the company's stock, valued at approximately $2,307,303.04. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tom Clapprood sold 15,000 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.68, for a total transaction of $670,200.00. Following the transaction, the insider owned 23,531 shares in the company, valued at $1,051,365.08. This trade represents a 38.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,056 shares of company stock valued at $3,284,275. 1.30% of the stock is owned by company insiders.

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.

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