TTM Technologies, Inc. (NASDAQ:TTMI) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,605 shares of the technology company's stock after selling 13,686 shares during the period. Teacher Retirement System of Texas owned 0.06% of TTM Technologies worth $1,284,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TTMI. Franklin Resources Inc. grew its position in TTM Technologies by 532.1% in the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after acquiring an additional 1,648,017 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in TTM Technologies in the fourth quarter worth approximately $19,040,000. Massachusetts Financial Services Co. MA grew its position in TTM Technologies by 50.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock worth $37,971,000 after acquiring an additional 515,015 shares during the period. Norges Bank purchased a new position in TTM Technologies in the fourth quarter worth approximately $8,610,000. Finally, Emerald Advisers LLC lifted its stake in TTM Technologies by 42.9% during the fourth quarter. Emerald Advisers LLC now owns 1,072,133 shares of the technology company's stock worth $26,535,000 after purchasing an additional 321,853 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TTMI. Stifel Nicolaus restated a "buy" rating and set a $40.00 price target (up from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th. Truist Financial upped 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, July 7th. B. Riley upped 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. Needham & Company LLC raised their price objective on shares of TTM Technologies from $35.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Wall Street Zen downgraded shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, TTM Technologies currently has a consensus rating of "Buy" and a consensus target price of $41.75.

TTM Technologies Stock Up 0.4%

NASDAQ:TTMI traded up $0.17 during midday trading on Monday, reaching $44.28. The company had a trading volume of 273,777 shares, compared to its average volume of 888,668. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 59.13 and a beta of 1.46. The stock's fifty day simple moving average is $34.33 and its 200-day simple moving average is $26.93. TTM Technologies, Inc. has a 12-month low of $15.77 and a 12-month 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.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. The business had revenue of $648.67 million during the quarter, compared to analysts' expectations 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 last year, the business posted $0.28 EPS. On average, sell-side analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other TTM Technologies news, SVP Dale Martin Knecht sold 10,000 shares of TTM Technologies stock in a transaction dated 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 sale, the senior vice president directly owned 76,346 shares of the company's stock, valued at $2,253,733.92. The trade was a 11.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tom Clapprood sold 10,000 shares of TTM Technologies stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $29.50, for a total value of $295,000.00. Following the sale, the insider directly owned 34,037 shares of the company's stock, valued at $1,004,091.50. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,226 shares of company stock worth $3,504,492. Corporate insiders own 1.30% of the company's stock.

About TTM Technologies

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.