TTM Technologies, Inc. (NASDAQ:TTMI) Shares Purchased by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its stake in TTM Technologies by 35.6% in the first quarter, owning a total of 26,471 shares valued at approximately $543,000.
• TTM Technologies reported earnings of $0.58 per share for the last quarter, surpassing the consensus estimate and showing a 20.7% year-over-year revenue increase to $730.62 million.
• The company's board approved a stock buyback plan allowing repurchase of up to $100 million in shares, indicating a belief that the stock is undervalued.

Headlands Technologies LLC boosted its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 35.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,471 shares of the technology company's stock after buying an additional 6,949 shares during the period. Headlands Technologies LLC's holdings in TTM Technologies were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in TTM Technologies by 4.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,949 shares of the technology company's stock valued at $345,000 after buying an additional 555 shares during the last quarter. New York State Teachers Retirement System boosted its position in TTM Technologies by 0.5% in the first quarter. New York State Teachers Retirement System now owns 110,577 shares of the technology company's stock valued at $2,268,000 after buying an additional 567 shares during the last quarter. CWM LLC boosted its position in TTM Technologies by 14.4% in the first quarter. CWM LLC now owns 4,501 shares of the technology company's stock valued at $92,000 after buying an additional 567 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in TTM Technologies by 3.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,797 shares of the technology company's stock valued at $490,000 after buying an additional 602 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in TTM Technologies by 8.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,652 shares of the technology company's stock valued at $288,000 after buying an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Buying and Selling at TTM Technologies

In related news, insider Tom Clapprood sold 15,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $44.68, for a total value of $670,200.00. Following the completion of the transaction, the insider directly owned 23,531 shares of the company's stock, valued at approximately $1,051,365.08. This represents a 38.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dale Martin Knecht sold 10,000 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.52, for a total value 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 approximately $2,253,733.92. This represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,226 shares of company stock worth $4,174,692. 1.30% of the stock is currently owned by corporate insiders.

TTM Technologies Trading Up 4.4%

Shares of TTMI stock opened at $45.28 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 1.72. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 50.31 and a beta of 1.48. The stock has a 50 day simple moving average of $41.15 and a 200-day simple moving average of $29.72. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $51.15.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. The business had revenue of $730.62 million during the quarter, compared to the consensus estimate of $668.42 million. TTM Technologies had a return on equity of 11.80% and a net margin of 3.52%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. On average, equities research analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its board has approved a stock buyback plan on Friday, May 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TTMI. Stifel Nicolaus upped their target price on TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Truist Financial upped their price objective on TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. B. Riley upped their price objective on TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded TTM Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, Needham & Company LLC upped their price objective on TTM Technologies from $43.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $52.25.

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.

Want to see what other hedge funds are holding TTMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TTM Technologies, Inc. (NASDAQ:TTMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.