First Trust Advisors LP Has $2.34 Million Stock Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

First Trust Advisors LP grew its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 74.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,453 shares of the technology company's stock after buying an additional 40,164 shares during the quarter. First Trust Advisors LP owned 0.09% of TTM Technologies worth $2,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in TTM Technologies by 532.1% during the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after purchasing an additional 1,648,017 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of TTM Technologies by 50.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock worth $37,971,000 after buying an additional 515,015 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in TTM Technologies by 5.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,312,770 shares of the technology company's stock valued at $32,491,000 after buying an additional 63,230 shares in the last quarter. Portolan Capital Management LLC grew its position in TTM Technologies by 22.6% in the fourth quarter. Portolan Capital Management LLC now owns 1,301,342 shares of the technology company's stock valued at $32,208,000 after acquiring an additional 239,972 shares during the last quarter. Finally, Emerald Advisers LLC raised its stake in TTM Technologies by 42.9% during the fourth quarter. Emerald Advisers LLC now owns 1,072,133 shares of the technology company's stock worth $26,535,000 after acquiring an additional 321,853 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

TTMI has been the topic of several research reports. Stifel Nicolaus began coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price target on the stock. B. Riley boosted their target price on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Needham & Company LLC increased their price target on TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Truist Financial reduced 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 other news, COO Philip Titterton sold 24,792 shares of TTM Technologies stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total value of $633,683.52. Following the completion of the transaction, the chief operating officer now directly owns 157,528 shares of the company's stock, valued at approximately $4,026,415.68. This trade represents a 13.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel J. Weber sold 15,000 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.34, for a total value of $395,100.00. Following the sale, the executive vice president now owns 95,153 shares in the company, valued at approximately $2,506,330.02. The trade was a 13.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,600 shares of company stock worth $1,310,642. 1.30% of the stock is currently owned by insiders.

TTM Technologies Trading Up 2.8 %

Shares of TTMI stock traded up $0.74 during trading hours on Friday, hitting $26.88. 794,833 shares of the company's stock traded hands, compared to its average volume of 762,936. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $30.41. The stock has a market cap of $2.73 billion, a PE ratio of 49.78 and a beta of 1.20. The stock's 50 day simple moving average is $21.16 and its 200 day simple moving average is $23.37.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced 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 return on equity of 9.74% and a net margin of 2.30%. The firm had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. During the same period in the previous year, the business earned $0.28 EPS. The business's quarterly revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies declared that its board has initiated a share repurchase program on Friday, May 9th that allows the company to buyback $100.00 million in outstanding 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 generally 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.