TTM Technologies, Inc. (NASDAQ:TTMI) Stock Position Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 507,745 shares of the technology company's stock after acquiring an additional 13,299 shares during the quarter. Principal Financial Group Inc. owned 0.50% of TTM Technologies worth $10,414,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas increased its holdings in TTM Technologies by 119.1% during the 1st quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock worth $46,000 after purchasing an additional 1,216 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of 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 in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of TTM Technologies in the fourth quarter worth $89,000. Quadrant Capital Group LLC raised its holdings in TTM Technologies by 8.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock valued at $139,000 after acquiring an additional 442 shares in the last quarter. Finally, State of Wyoming boosted its stake in TTM Technologies by 103.3% during the 4th quarter. State of Wyoming now owns 5,708 shares of the technology company's stock valued at $141,000 after acquiring an additional 2,900 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Philip Titterton sold 23,486 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $36.39, for a total transaction of $854,655.54. Following the completion of the transaction, the chief operating officer owned 123,338 shares in the company, valued at approximately $4,488,269.82. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of TTM Technologies stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total transaction of $595,216.70. Following the completion of the sale, the executive vice president owned 74,983 shares in the company, valued at approximately $2,212,748.33. This represents a 21.20% decrease in their ownership of the stock. 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 in the last three months. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TTMI. Stifel Nicolaus reissued a "buy" rating and issued a $40.00 target price (up previously from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Wall Street Zen lowered TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Needham & Company LLC upped their price objective 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 target price on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Truist Financial boosted their price target on TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a report on Monday, July 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $41.75.

TTM Technologies Stock Performance

NASDAQ TTMI traded up $0.19 during trading hours on Monday, reaching $44.30. The company's stock had a trading volume of 1,871,297 shares, compared to its average volume of 991,511. The company has a current ratio of 2.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $34.33 and a 200 day simple moving average of $26.93. TTM Technologies, Inc. has a 52 week low of $15.77 and a 52 week high of $45.24. The stock has a market cap of $4.50 billion, a PE ratio of 59.07 and a beta of 1.46.

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, topping the consensus estimate of $0.39 by $0.11. The business had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. The business's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. Equities research analysts predict that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies declared that its Board of Directors has initiated a stock 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 typically an indication that the company's management believes its stock is undervalued.

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.