Panagora Asset Management Inc. Sells 171,427 Shares of TTM Technologies, Inc. $TTMI

Key Points

• Panagora Asset Management Inc. reduced its stake in TTM Technologies by 28.2%, selling 171,427 shares, and now holds about 0.43% of the company's stock valued at approximately $8.96 million.
• TTM Technologies reported earnings of $0.58 per share for the last quarter, exceeding analysts' expectations of $0.52, with significant revenue growth of 20.7% year-over-year.
• The company has initiated a $100 million share buyback program, indicating a belief from the board that the stock may be undervalued; additionally, institutional investors now own 95.79% of TTM's shares.

Panagora Asset Management Inc. lowered its stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 28.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 436,801 shares of the technology company's stock after selling 171,427 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.43% of TTM Technologies worth $8,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of TTM Technologies in the first quarter valued at about $31,763,000. Emerald Advisers LLC grew its holdings in TTM Technologies by 34.3% during the first quarter. Emerald Advisers LLC now owns 1,439,931 shares of the technology company's stock worth $29,533,000 after purchasing an additional 367,798 shares during the period. Invesco Ltd. grew its holdings in TTM Technologies by 35.3% during the first quarter. Invesco Ltd. now owns 1,357,707 shares of the technology company's stock worth $27,847,000 after purchasing an additional 354,342 shares during the period. Northern Trust Corp grew its holdings in TTM Technologies by 7.8% during the fourth quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company's stock worth $28,700,000 after purchasing an additional 84,137 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in TTM Technologies by 52.2% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 886,701 shares of the technology company's stock worth $18,186,000 after purchasing an additional 304,176 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

TTM Technologies Stock Performance

Shares of NASDAQ:TTMI traded up $1.63 during trading on Friday, reaching $47.70. 2,166,742 shares of the stock were exchanged, compared to its average volume of 1,911,880. The company has a current ratio of 2.03, a quick ratio of 1.72 and a debt-to-equity ratio of 0.56. The firm has a market cap of $4.93 billion, a PE ratio of 53.00 and a beta of 1.57. The stock has a 50-day moving average price of $44.43 and a 200-day moving average price of $32.30. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $51.15.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The business had revenue of $730.62 million during the quarter, compared to analysts' expectations of $668.42 million. TTM Technologies had a return on equity of 11.80% and a net margin of 3.52%.The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. Research analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, EVP Catherine A. Gridley sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $44.31, for a total value of $886,200.00. Following the completion of the sale, the executive vice president directly owned 81,986 shares in the company, valued at approximately $3,632,799.66. The trade was a 19.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven Spoto sold 3,484 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $46.58, for a total value of $162,284.72. Following the completion of the sale, the insider owned 28,649 shares of the company's stock, valued at approximately $1,334,470.42. This trade represents a 10.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,421 shares of company stock valued at $4,398,560 in the last quarter. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TTMI shares. Stifel Nicolaus lifted their price target on TTM Technologies from $40.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. B. Riley lifted their price target on TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Truist Financial lifted their price target on TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Wall Street Zen cut TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday. Finally, Needham & Company LLC restated a "buy" rating and set a $56.00 price objective on shares of TTM Technologies in a report on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $52.25.

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.