Wedge Capital Management L L P NC Has $1.72 Million Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Wedge Capital Management L L P NC lessened its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 40.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,741 shares of the technology company's stock after selling 58,058 shares during the period. Wedge Capital Management L L P NC owned 0.08% of TTM Technologies worth $1,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in shares of TTM Technologies by 33.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,122 shares of the technology company's stock valued at $993,000 after acquiring an additional 9,980 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in TTM Technologies in the fourth quarter worth $83,000. Principal Financial Group Inc. lifted its position in TTM Technologies by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 494,446 shares of the technology company's stock worth $12,238,000 after purchasing an additional 13,918 shares during the period. Sanctuary Advisors LLC lifted its position in TTM Technologies by 6.8% in the fourth quarter. Sanctuary Advisors LLC now owns 34,431 shares of the technology company's stock worth $846,000 after purchasing an additional 2,184 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in TTM Technologies in the fourth quarter worth $95,000. Institutional investors and hedge funds own 95.79% of the company's stock.

TTM Technologies Price Performance

TTM Technologies stock traded down $1.04 during mid-day trading on Friday, hitting $35.38. 1,268,340 shares of the company were exchanged, compared to its average volume of 821,947. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $26.06 and a 200 day moving average of $24.79. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $37.19. The company has a market capitalization of $3.60 billion, a PE ratio of 65.52 and a beta of 1.37.

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

TTM Technologies declared that its board has initiated a share buyback plan on Friday, May 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related 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 value of $295,200.00. Following the completion of the transaction, the senior vice president now directly owns 76,346 shares of the company's stock, valued at $2,253,733.92. The trade was a 11.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel J. Weber sold 20,170 shares of TTM Technologies stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 73,944 shares of company stock worth $2,235,071 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on TTMI shares. Needham & Company LLC raised their target price on TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. B. Riley raised their target price on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Truist Financial raised their target price on TTM Technologies from $36.00 to $41.00 and gave the stock a "buy" rating in a research report on Monday, June 9th.

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.