Wellington Management Group LLP Reduces Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Wellington Management Group LLP decreased its holdings in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,364,904 shares of the technology company's stock after selling 29,757 shares during the period. Wellington Management Group LLP owned about 1.34% of TTM Technologies worth $33,781,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of TTM Technologies by 670.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after buying an additional 1,220 shares during the period. Sterling Capital Management LLC increased its stake in shares of TTM Technologies by 808.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock valued at $79,000 after buying an additional 2,831 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of TTM Technologies during the fourth quarter valued at $83,000. Meeder Asset Management Inc. purchased a new position in shares of TTM Technologies during the fourth quarter valued at $89,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of TTM Technologies during the fourth quarter valued at $95,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Stock Up 0.7%

TTMI stock traded up $0.22 during trading on Wednesday, reaching $32.61. 786,253 shares of the company traded hands, compared to its average volume of 782,834. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $33.18. The business has a 50 day simple moving average of $23.60 and a 200 day simple moving average of $24.18. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 60.39 and a beta of 1.20. 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 issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The business had revenue of $648.67 million during the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. On average, equities research analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies declared that its Board of Directors has authorized a stock repurchase plan on Friday, May 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 3.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. B. Riley raised their price target on TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Needham & Company LLC raised their price objective on TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Stifel Nicolaus initiated coverage on TTM Technologies in a research report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price objective on the stock. Finally, Truist Financial dropped their price objective on TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st.

Insiders Place Their Bets

In related news, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total transaction of $749,160.00. Following the completion of the sale, the executive vice president now owns 173,026 shares of the company's stock, valued at $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Dale Martin Knecht sold 10,000 shares of TTM Technologies stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.52, for a total value of $295,200.00. Following the transaction, the senior vice president now owns 76,346 shares of the company's stock, valued at approximately $2,253,733.92. This represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,142 shares of company stock valued at $1,934,577. 1.30% of the stock is currently owned by corporate insiders.

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.