Rhumbline Advisers Has $5.93 Million Stock Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Rhumbline Advisers cut its holdings in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 289,274 shares of the technology company's stock after selling 14,677 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of TTM Technologies worth $5,933,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Franklin Resources Inc. grew its holdings in TTM Technologies by 532.1% during the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after acquiring an additional 1,648,017 shares during the last quarter. Victory Capital Management Inc. grew its stake 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 valued at $24,268,000 after purchasing an additional 781,058 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of TTM Technologies in the fourth quarter valued at approximately $19,040,000. Massachusetts Financial Services Co. MA raised its position in TTM Technologies by 50.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock worth $37,971,000 after purchasing an additional 515,015 shares during the last quarter. Finally, Norges Bank bought a new position in TTM Technologies in the 4th quarter worth approximately $8,610,000. 95.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Tom Clapprood sold 10,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $29.50, for a total value of $295,000.00. Following the completion of the transaction, the insider now directly owns 34,037 shares of the company's stock, valued at approximately $1,004,091.50. This represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dale Martin Knecht sold 1,140 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $34.00, for a total transaction of $38,760.00. Following the completion of the transaction, the senior vice president now directly owns 75,206 shares of the company's stock, valued at approximately $2,557,004. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,944 shares of company stock valued at $2,235,071. Company insiders own 1.30% of the company's stock.

TTM Technologies Trading Up 4.8%

Shares of TTMI stock traded up $1.71 on Monday, hitting $37.09. The stock had a trading volume of 2,062,047 shares, compared to its average volume of 826,909. TTM Technologies, Inc. has a twelve month low of $15.77 and a twelve month high of $37.76. The firm has a market cap of $3.77 billion, a P/E ratio of 68.69 and a beta of 1.37. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $26.45 and a two-hundred day moving average price of $24.89.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The company had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. During the same quarter in the previous year, the business earned $0.28 EPS. The firm's revenue was up 13.8% on a year-over-year basis. As a group, analysts forecast 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 buyback program on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to repurchase up to 3.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TTMI. Truist Financial boosted their price objective on shares of TTM Technologies from $36.00 to $41.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Needham & Company LLC boosted their price objective on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. B. Riley boosted their price objective on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus restated a "buy" rating and issued a $40.00 price objective (up previously from $33.00) on shares of TTM Technologies in a research report on Monday.

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.