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

Allspring Global Investments Holdings LLC boosted its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 23.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 49,433 shares of the technology company's stock after acquiring an additional 9,311 shares during the period. Allspring Global Investments Holdings LLC's holdings in TTM Technologies were worth $1,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased 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 buying an additional 1,220 shares during the period. USA Financial Formulas increased its position in shares of TTM Technologies by 119.1% during the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock valued at $46,000 after buying an additional 1,216 shares during the period. Sterling Capital Management LLC increased 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 valued at $79,000 after buying an additional 2,831 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of TTM Technologies during the fourth quarter valued at about $89,000. Finally, Quadrant Capital Group LLC increased its position in shares of TTM Technologies by 8.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock worth $139,000 after purchasing an additional 442 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TTMI. Stifel Nicolaus restated a "buy" rating and issued a $40.00 price objective (up from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Needham & Company LLC upped their target price on TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Truist Financial upped their target price on TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday. B. Riley upped their target price on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $41.75.

TTM Technologies Trading Down 0.5%

Shares of NASDAQ:TTMI traded down $0.24 during trading on Thursday, reaching $43.76. 335,204 shares of the company traded hands, compared to its average volume of 887,273. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 58.24 and a beta of 1.46. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week 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 business's fifty day moving average is $33.54 and its 200-day moving average is $26.65.

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

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

Insider Buying and Selling

In other news, insider Tom Clapprood sold 10,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the transaction, the insider directly owned 34,037 shares in the company, valued at $1,004,091.50. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the transaction, the executive vice president owned 74,983 shares of the company's stock, valued at $2,212,748.33. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,226 shares of company stock valued at $3,504,492 over the last three months. Insiders own 1.30% of the company's stock.

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.