Stifel Financial Corp Acquires Shares of 23,193 TTM Technologies, Inc. (NASDAQ:TTMI)

Stifel Financial Corp bought a new position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 23,193 shares of the technology company's stock, valued at approximately $574,000.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in TTM Technologies by 532.1% during the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after acquiring an additional 1,648,017 shares during the period. Victory Capital Management Inc. boosted its holdings in 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 purchasing an additional 781,058 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in TTM Technologies by 50.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after purchasing an additional 515,015 shares during the period. Norges Bank purchased a new position in shares of TTM Technologies during the 4th quarter valued at $8,610,000. Finally, Emerald Advisers LLC increased its holdings in shares of TTM Technologies by 42.9% in the fourth quarter. Emerald Advisers LLC now owns 1,072,133 shares of the technology company's stock worth $26,535,000 after purchasing an additional 321,853 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insiders Place Their Bets

In other news, EVP Catherine A. Gridley sold 6,000 shares of TTM Technologies stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $26.25, for a total transaction of $157,500.00. Following the sale, the executive vice president now owns 125,206 shares of the company's stock, valued at approximately $3,286,657.50. The trade was a 4.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel J. Weber sold 20,170 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total transaction 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 approximately $2,212,748.33. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,978 shares of company stock worth $1,567,375. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

TTM Technologies Trading Down 0.5%

Shares of NASDAQ TTMI traded down $0.15 during midday trading on Wednesday, reaching $29.65. The company had a trading volume of 1,107,804 shares, compared to its average volume of 766,963. The stock has a market cap of $3.01 billion, a PE ratio of 54.91 and a beta of 1.20. TTM Technologies, Inc. has a one year low of $15.77 and a one year high of $30.62. The firm's fifty day moving average price is $21.41 and its 200-day moving average price is $23.51. 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 (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, beating 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 the consensus estimate of $621.44 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The business's revenue was up 13.8% on a year-over-year basis. On average, equities research analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its Board of Directors has initiated a stock repurchase program on Friday, May 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to buy up to 3.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

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.