Nuveen Asset Management LLC Decreases Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Nuveen Asset Management LLC cut its stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,145,907 shares of the technology company's stock after selling 132,955 shares during the period. Nuveen Asset Management LLC owned 1.12% of TTM Technologies worth $28,361,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TTMI. Franklin Resources Inc. boosted its holdings in shares of TTM Technologies by 532.1% during the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after buying an additional 1,648,017 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of TTM Technologies by 391.6% during the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock worth $24,268,000 after buying an additional 781,058 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of TTM Technologies during the 4th quarter worth approximately $19,040,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of TTM Technologies by 50.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock worth $37,971,000 after buying an additional 515,015 shares in the last quarter. Finally, Norges Bank bought a new position in shares of TTM Technologies during the 4th quarter worth approximately $8,610,000. 95.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TTMI shares. B. Riley increased their price target on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Needham & Company LLC increased their price target on TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus started coverage on TTM Technologies in a report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price target on the stock. Finally, Truist Financial cut their price target on TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, May 1st.

Insider Transactions at TTM Technologies

In other news, EVP Daniel J. Weber sold 20,170 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total transaction of $595,216.70. Following the transaction, the executive vice president now directly owns 74,983 shares of the company's stock, valued at $2,212,748.33. This represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas L. Soder sold 24,972 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 173,026 shares of the company's stock, valued at $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 have sold 55,642 shares of company stock valued at $1,651,737 over the last ninety days. 1.30% of the stock is owned by company insiders.

TTM Technologies Stock Up 4.2%

Shares of NASDAQ:TTMI traded up $1.19 during trading on Tuesday, reaching $29.78. 775,525 shares of the stock were exchanged, compared to its average volume of 773,010. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $30.41. The stock has a fifty day moving average of $22.83 and a two-hundred day moving average of $23.97. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 55.15 and a beta of 1.20.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The company had revenue of $648.67 million for the quarter, compared to analyst estimates of $621.44 million. During the same period in the prior year, the firm earned $0.28 earnings per share. TTM Technologies's revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies announced that its board has approved a share repurchase plan on Friday, May 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are often a sign 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.