Allspring Global Investments Holdings LLC Boosts Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Allspring Global Investments Holdings LLC grew its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 23.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,433 shares of the technology company's stock after buying an additional 9,311 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in TTM Technologies were worth $1,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TTMI. Proficio Capital Partners LLC bought a new position in shares of TTM Technologies during the fourth quarter valued at about $295,000. Smartleaf Asset Management LLC lifted its position 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 valued at $35,000 after purchasing an additional 1,220 shares in the last quarter. Victory Capital Management Inc. lifted its position 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of TTM Technologies during the fourth quarter valued at about $3,289,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of TTM Technologies during the fourth quarter valued at about $202,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TTM Technologies news, EVP Douglas L. Soder sold 24,972 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total value of $749,160.00. Following the completion of the transaction, the executive vice president owned 173,026 shares of the company's stock, valued at $5,190,780. The trade was a 12.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Philip Titterton sold 23,486 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was 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 directly owned 123,338 shares of the company's stock, valued at approximately $4,488,269.82. This represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,226 shares of company stock worth $3,504,492. 1.30% of the stock is owned by corporate insiders.

TTM Technologies Stock Performance

Shares of NASDAQ TTMI traded up $0.25 during midday trading on Friday, hitting $44.13. The company's stock had a trading volume of 836,566 shares, compared to its average volume of 892,897. The stock has a fifty day moving average price of $33.95 and a 200 day moving average price of $26.78. TTM Technologies, Inc. has a one year low of $15.77 and a one year high of $45.00. 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 firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 58.84 and a beta of 1.46.

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

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Needham & Company LLC lifted their price objective on shares of TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. B. Riley lifted 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. Truist Financial lifted their price objective on shares of TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Stifel Nicolaus reaffirmed 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, June 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $41.75.

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.