Graham Capital Management L.P. Increases Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Graham Capital Management L.P. raised its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 47.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,551 shares of the technology company's stock after purchasing an additional 14,684 shares during the quarter. Graham Capital Management L.P.'s holdings in TTM Technologies were worth $1,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in TTM Technologies by 7.8% in the 4th quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company's stock valued at $28,700,000 after purchasing an additional 84,137 shares during the last quarter. Victory Capital Management Inc. raised 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 acquiring an additional 781,058 shares during the period. Emerald Mutual Fund Advisers Trust raised its stake in shares of TTM Technologies by 5.0% in 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 acquiring an additional 27,980 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of TTM Technologies by 33.1% in the 4th 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. Finally, Principal Financial Group Inc. raised its stake in shares of TTM Technologies by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 494,446 shares of the technology company's stock valued at $12,238,000 after acquiring an additional 13,918 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TTMI has been the topic of a number of research analyst reports. Truist Financial reduced their price target on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC upped their target price on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus started coverage on shares of TTM Technologies in a research note on Tuesday, February 11th. They set a "buy" rating and a $33.00 target price on the stock. Finally, B. Riley upped 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.

TTM Technologies Stock Up 0.9%

NASDAQ TTMI traded up $0.27 on Friday, hitting $29.37. 839,347 shares of the stock were exchanged, compared to its average volume of 768,150. 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 fifty-two week low of $15.77 and a fifty-two week high of $30.41. The company has a market cap of $2.98 billion, a PE ratio of 54.39 and a beta of 1.20. The company has a 50-day moving average price of $21.84 and a 200-day moving average price of $23.68.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $648.67 million during the quarter, compared to analysts' expectations of $621.44 million. During the same quarter in the prior year, the business posted $0.28 EPS. The company's revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies announced that its Board of Directors has authorized a share buyback program on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, EVP Daniel J. Weber sold 20,170 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total transaction of $595,216.70. Following the completion of the sale, the executive vice president now owns 74,983 shares in the company, valued at $2,212,748.33. This represents a 21.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dale Martin Knecht sold 3,848 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.01, for a total transaction of $100,086.48. Following the sale, the senior vice president now owns 86,346 shares of the company's stock, valued at approximately $2,245,859.46. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,950 shares of company stock worth $2,159,035. Corporate insiders own 1.30% of the company's stock.

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.