Victory Capital Management Inc. Sells 128,178 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Victory Capital Management Inc. lessened its stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 852,331 shares of the technology company's stock after selling 128,178 shares during the period. Victory Capital Management Inc. owned about 0.84% of TTM Technologies worth $17,481,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TTMI. Proficio Capital Partners LLC bought a new stake in shares of TTM Technologies in the fourth quarter valued at about $295,000. Raymond James Financial Inc. bought a new position in TTM Technologies during the fourth quarter worth about $3,289,000. Swiss National Bank lifted its stake in TTM Technologies by 0.9% during the fourth quarter. Swiss National Bank now owns 200,500 shares of the technology company's stock worth $4,962,000 after purchasing an additional 1,700 shares during the period. Cibc World Markets Corp bought a new position in TTM Technologies during the fourth quarter worth about $234,000. Finally, Teacher Retirement System of Texas lifted its stake in TTM Technologies by 21.9% during the fourth quarter. Teacher Retirement System of Texas now owns 76,291 shares of the technology company's stock worth $1,888,000 after purchasing an additional 13,690 shares during the period. Institutional investors own 95.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TTMI shares. Needham & Company LLC raised their price target on shares of TTM Technologies from $35.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. B. Riley raised their price target on shares of TTM Technologies from $36.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Truist Financial lifted their target price on shares of TTM Technologies from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Wall Street Zen cut shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $40.00 target price (up previously from $33.00) on shares of TTM Technologies in a research note on Monday, June 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $45.25.

Insider Activity

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of TTM Technologies stock in a transaction on Friday, May 30th. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the sale, the insider owned 34,037 shares of the company's stock, valued at approximately $1,004,091.50. The trade was a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of TTM Technologies stock in a transaction 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 directly owned 74,983 shares in the company, valued at approximately $2,212,748.33. This represents a 21.20% 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.

TTM Technologies Price Performance

Shares of TTM Technologies stock traded up $1.02 during midday trading on Friday, reaching $45.29. The company had a trading volume of 2,127,988 shares, compared to its average volume of 2,235,684. The company has a current ratio of 2.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 60.39 and a beta of 1.46. The stock has a fifty day simple moving average of $37.93 and a 200 day simple moving average of $28.35. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $48.59.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.11. TTM Technologies had a net margin of 3.09% and a return on equity of 10.75%. The business had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. During the same quarter last year, the business posted $0.28 earnings per share. TTM Technologies's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its Board of Directors has authorized a share repurchase program on Friday, May 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

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.