Wedge Capital Management L L P NC Sells 58,058 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Wedge Capital Management L L P NC reduced its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 40.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,741 shares of the technology company's stock after selling 58,058 shares during the quarter. Wedge Capital Management L L P NC owned 0.08% of TTM Technologies worth $1,718,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TTMI. Northern Trust Corp boosted its stake in TTM Technologies by 7.8% in the fourth quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company's stock worth $28,700,000 after buying an additional 84,137 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of TTM Technologies by 391.6% in the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock valued at $24,268,000 after purchasing an additional 781,058 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of TTM Technologies by 5.0% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 582,525 shares of the technology company's stock valued at $14,417,000 after purchasing an additional 27,980 shares during the last quarter. Deutsche Bank AG raised its position in TTM Technologies by 46.8% in the 4th quarter. Deutsche Bank AG now owns 86,547 shares of the technology company's stock worth $2,142,000 after purchasing an additional 27,584 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in TTM Technologies by 34.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 176,872 shares of the technology company's stock worth $4,378,000 after purchasing an additional 44,833 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TTMI has been the topic of several analyst reports. Truist Financial lifted their price objective on TTM Technologies from $36.00 to $41.00 and gave the stock a "buy" rating in a report on Monday, June 9th. B. Riley lifted 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. Finally, Needham & Company LLC increased their target price on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, May 1st.

Insider Activity

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of the business's stock in a transaction on 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 now directly owns 34,037 shares of the company's stock, valued at approximately $1,004,091.50. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Dale Martin Knecht sold 7,662 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $34.16, for a total value of $261,733.92. Following the transaction, the senior vice president now owns 67,544 shares of the company's stock, valued at $2,307,303.04. The trade was a 10.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,944 shares of company stock worth $2,235,071 in the last quarter. 1.30% of the stock is owned by company insiders.

TTM Technologies Trading Down 2.9%

TTMI stock traded down $1.04 on Friday, reaching $35.38. The company's stock had a trading volume of 1,268,340 shares, compared to its average volume of 820,288. The firm has a market cap of $3.60 billion, a PE ratio of 65.52 and a beta of 1.37. The business has a fifty day simple moving average of $26.06 and a two-hundred day simple moving average of $24.79. TTM Technologies, Inc. has a 12-month low of $15.77 and a 12-month high of $37.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The firm had revenue of $648.67 million during the quarter, compared to analysts' expectations of $621.44 million. During the same period last year, the company posted $0.28 EPS. The company's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts forecast that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies declared that its Board of Directors has initiated a stock repurchase program 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 programs are typically a sign that the company's board believes its shares are undervalued.

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.