Susquehanna International Group LLP Acquires 65,733 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Susquehanna International Group LLP grew its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 376.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 83,209 shares of the technology company's stock after purchasing an additional 65,733 shares during the period. Susquehanna International Group LLP owned about 0.08% of TTM Technologies worth $2,059,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massar Capital Management LP purchased a new stake in TTM Technologies in the 4th quarter valued at $436,000. Hsbc Holdings PLC raised its holdings in shares of TTM Technologies by 8.9% in the fourth quarter. Hsbc Holdings PLC now owns 78,479 shares of the technology company's stock valued at $1,948,000 after purchasing an additional 6,382 shares during the last quarter. Stifel Financial Corp purchased a new position in TTM Technologies during the fourth quarter worth about $574,000. State of Tennessee Department of Treasury grew its position in TTM Technologies by 13.4% in the 4th quarter. State of Tennessee Department of Treasury now owns 43,776 shares of the technology company's stock worth $1,083,000 after purchasing an additional 5,162 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in TTM Technologies by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 61,600 shares of the technology company's stock valued at $1,525,000 after buying an additional 3,360 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TTM Technologies

In related news, EVP Daniel J. Weber sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.34, for a total transaction of $395,100.00. Following the sale, the executive vice president now owns 95,153 shares of the company's stock, valued at approximately $2,506,330.02. This represents a 13.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Philip Titterton sold 24,792 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $25.56, for a total transaction 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. The trade was a 13.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,600 shares of company stock worth $1,310,642. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TTMI. Stifel Nicolaus initiated coverage on TTM Technologies in a report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 target price for the company. B. Riley raised their target price on TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Truist Financial cut their price target on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Needham & Company LLC lifted their price objective on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st.

TTM Technologies Stock Up 2.8 %

TTMI stock opened at $26.88 on Friday. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $30.41. The stock has a fifty day moving average of $21.16 and a 200-day moving average of $23.34. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 49.78 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 posted its quarterly 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 company had revenue of $648.67 million for the quarter, compared to analyst estimates of $621.44 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its board has approved a stock 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 purchase up to 3.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership 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.

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