TTM Technologies, Inc. (NASDAQ:TTMI) Stake Raised by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 16.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,989 shares of the technology company's stock after acquiring an additional 11,500 shares during the quarter. New York State Common Retirement Fund owned 0.08% of TTM Technologies worth $1,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in TTM Technologies during the 4th quarter valued at $295,000. Raymond James Financial Inc. purchased a new position in TTM Technologies during the 4th quarter valued at $3,289,000. Cibc World Markets Corp purchased a new position in TTM Technologies during the 4th quarter valued at $234,000. Teacher Retirement System of Texas boosted its holdings in TTM Technologies by 21.9% during the 4th quarter. Teacher Retirement System of Texas now owns 76,291 shares of the technology company's stock valued at $1,888,000 after acquiring an additional 13,690 shares during the period. Finally, Sei Investments Co. raised its position in TTM Technologies by 81.0% during the 4th quarter. Sei Investments Co. now owns 49,262 shares of the technology company's stock valued at $1,219,000 after purchasing an additional 22,052 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analyst Upgrades and Downgrades

TTMI has been the subject of a number of research analyst reports. Truist Financial lifted their target price on 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 upped their price target on TTM Technologies from $35.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, June 20th. B. Riley lifted their price objective on TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Stifel Nicolaus reiterated a "buy" rating and set a $40.00 target price (up previously from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Finally, Wall Street Zen lowered TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, TTM Technologies currently has a consensus rating of "Buy" and a consensus price target of $45.25.

TTM Technologies Stock Up 2.3%

NASDAQ:TTMI traded up $1.02 during mid-day trading on Friday, reaching $45.29. The stock had a trading volume of 2,127,988 shares, compared to its average volume of 2,235,684. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 60.39 and a beta of 1.46. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $48.59. The stock's 50 day simple moving average is $37.93 and its two-hundred day simple moving average is $28.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.75.

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

TTM Technologies announced that its board has authorized a share buyback 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 reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Daniel J. Weber sold 20,170 shares of TTM Technologies stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total transaction of $595,216.70. Following the sale, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Philip Titterton sold 23,486 shares of TTM Technologies stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $36.39, for a total value of $854,655.54. Following the sale, the chief operating officer directly owned 123,338 shares in the company, valued at approximately $4,488,269.82. This trade represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,226 shares of company stock valued at $3,504,492 over the last 90 days. 1.30% of the stock is owned by corporate 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.