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

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

Several other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in TTM Technologies by 670.3% in 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 during the last quarter. USA Financial Formulas grew its stake in TTM Technologies by 119.1% in the first quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock valued at $46,000 after purchasing an additional 1,216 shares during the last quarter. Sterling Capital Management LLC grew its stake in TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock valued at $79,000 after purchasing an additional 2,831 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in TTM Technologies in the fourth quarter valued at about $89,000. Finally, Quadrant Capital Group LLC boosted 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 worth $139,000 after acquiring an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Stock Performance

NASDAQ:TTMI traded up $1.36 during trading hours on Wednesday, reaching $43.99. The company had a trading volume of 2,149,520 shares, compared to its average volume of 888,224. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $45.00. The firm has a market cap of $4.47 billion, a PE ratio of 58.65 and a beta of 1.46. The business's 50 day moving average price is $33.06 and its 200-day moving average price is $26.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.75.

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 analysts' consensus estimates of $0.39 by $0.11. TTM Technologies had a return on equity of 10.75% and a net margin of 3.09%. The company had revenue of $648.67 million during the quarter, compared to the consensus estimate of $621.44 million. During the same period in the previous year, the company posted $0.28 earnings per share. TTM Technologies's revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts forecast that TTM Technologies, Inc. will post 1.76 EPS for the current year.

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

Insider Buying and Selling

In other news, SVP Dale Martin Knecht sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the transaction, the senior vice president directly owned 76,346 shares of the company's stock, valued at $2,253,733.92. This represents a 11.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Douglas L. Soder sold 24,972 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the transaction, the executive vice president directly owned 173,026 shares of the company's stock, valued at approximately $5,190,780. The trade was a 12.61% 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 currently owned by company insiders.

Analyst Ratings Changes

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