LMR Partners LLP Makes New $539,000 Investment in TTM Technologies, Inc. (NASDAQ:TTMI)

LMR Partners LLP acquired a new position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,790 shares of the technology company's stock, valued at approximately $539,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTMI. USA Financial Formulas acquired a new position in shares of TTM Technologies in the fourth quarter worth approximately $25,000. Smartleaf Asset Management LLC lifted its stake in shares of TTM Technologies by 670.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock worth $35,000 after acquiring an additional 1,220 shares during the period. Sterling Capital Management LLC lifted its stake in shares of TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock worth $79,000 after acquiring an additional 2,831 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of TTM Technologies in the fourth quarter worth approximately $83,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of TTM Technologies in the fourth quarter worth approximately $89,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TTMI shares. Stifel Nicolaus started coverage on TTM Technologies in a research note on Tuesday, February 11th. They issued a "buy" rating and a $33.00 price objective on the stock. B. Riley lifted their target price on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Truist Financial lowered their target price on TTM Technologies from $38.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Needham & Company LLC lifted their target price on TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, May 1st.

TTM Technologies Trading Up 0.9%

TTMI stock traded up $0.27 during mid-day trading on Friday, reaching $29.37. The company's stock had a trading volume of 839,347 shares, compared to its average volume of 769,792. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 54.39 and a beta of 1.20. The business's 50 day moving average price is $21.84 and its 200 day moving average price is $23.71. The company has a current ratio of 1.99, a quick ratio of 1.71 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.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm 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 in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts predict 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 buyback plan on Friday, May 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Douglas L. Soder sold 24,972 shares of TTM Technologies stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total transaction of $749,160.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel J. Weber sold 15,000 shares of TTM Technologies stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.34, for a total value of $395,100.00. Following the transaction, the executive vice president now directly 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. Insiders sold a total of 74,950 shares of company stock worth $2,159,035 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

TTM Technologies 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.