Prospect Capital Advisors LLC decreased its stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 22.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,750 shares of the technology company's stock after selling 65,350 shares during the quarter. TTM Technologies makes up 3.3% of Prospect Capital Advisors LLC's holdings, making the stock its 15th biggest position. Prospect Capital Advisors LLC owned about 0.23% of TTM Technologies worth $5,736,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Franklin Resources Inc. lifted its stake in shares of TTM Technologies by 532.1% in the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after buying an additional 1,648,017 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of TTM Technologies by 391.6% in the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock worth $24,268,000 after buying an additional 781,058 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of TTM Technologies in the fourth quarter worth about $19,040,000. Massachusetts Financial Services Co. MA lifted its stake in shares of TTM Technologies by 50.5% in the fourth 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 in the last quarter. Finally, Norges Bank purchased a new position in shares of TTM Technologies in the fourth quarter worth about $8,610,000. Institutional investors and hedge funds own 95.79% of the company's stock.
TTM Technologies Price Performance
Shares of TTMI stock opened at $29.65 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The firm's 50-day moving average is $21.55 and its two-hundred day moving average is $23.55. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $30.41. The company has a market capitalization of $3.01 billion, a PE ratio of 54.91 and a beta of 1.20.
TTM Technologies (NASDAQ:TTMI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The company had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. TTM Technologies's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. 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 repurchase program on Friday, May 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.
Insider Activity
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 directly owns 95,153 shares of the company's stock, valued at $2,506,330.02. This represents a 13.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dale Martin Knecht sold 3,848 shares of the company's stock in a transaction that occurred 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 directly owns 86,346 shares in the company, valued at approximately $2,245,859.46. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,978 shares of company stock valued at $1,567,375. Company insiders own 1.30% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on TTMI shares. Truist Financial decreased 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. Stifel Nicolaus initiated coverage on shares of TTM Technologies in a research note on Tuesday, February 11th. They issued a "buy" rating and a $33.00 price target on the stock. B. Riley lifted 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. Finally, Needham & Company LLC lifted 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.
Check Out Our Latest Stock Report on TTM Technologies
About TTM Technologies
(
Free Report)
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.
See Also
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