TTM Technologies, Inc. (NASDAQ:TTMI) Shares Sold by Rhumbline Advisers

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

A number of other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its holdings in shares of TTM Technologies by 670.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock worth $35,000 after buying an additional 1,220 shares in the last quarter. Sterling Capital Management LLC lifted its position in TTM Technologies by 808.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock worth $79,000 after buying an additional 2,831 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in TTM Technologies in the 4th quarter valued at about $83,000. Meeder Asset Management Inc. acquired a new stake in shares of TTM Technologies in the fourth quarter worth approximately $89,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of TTM Technologies in the 4th quarter valued at $95,000. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Stock Down 2.9%

TTM Technologies stock traded down $1.04 during midday trading on Friday, hitting $35.38. 1,268,340 shares of the stock were exchanged, compared to its average volume of 818,079. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The company has a 50 day moving average price of $25.70 and a two-hundred day moving average price of $24.71. The firm has a market cap of $3.60 billion, a P/E ratio of 65.52 and a beta of 1.37. TTM Technologies, Inc. has a 1 year low of $15.77 and a 1 year high of $37.19.

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. On average, sell-side analysts predict 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 share buyback program on Friday, May 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Transactions at TTM Technologies

In related news, EVP Douglas L. Soder sold 24,972 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the completion of the sale, the executive vice president now directly owns 173,026 shares of the company's stock, valued at $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tom Clapprood sold 10,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $29.50, for a total value of $295,000.00. Following the transaction, the insider now directly owns 34,037 shares in the company, valued at approximately $1,004,091.50. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,944 shares of company stock valued at $2,235,071. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TTMI shares. Truist Financial upped their price target on TTM Technologies from $36.00 to $41.00 and gave the stock a "buy" rating in a research note on Monday. Needham & Company LLC upped their price target 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. Finally, B. Riley boosted their price objective on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st.

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.