Maryland State Retirement & Pension System Lowers Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Maryland State Retirement & Pension System trimmed its position in TTM Technologies, Inc. (NASDAQ:TTMI) by 4.5% in the 2nd quarter, Holdings Channel reports. The firm owned 35,485 shares of the technology company’s stock after selling 1,675 shares during the quarter. Maryland State Retirement & Pension System’s holdings in TTM Technologies were worth $689,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of TTM Technologies by 2,130.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,069 shares of the technology company’s stock valued at $392,000 after acquiring an additional 23,945 shares during the last quarter. Panagora Asset Management Inc. raised its stake in TTM Technologies by 36.3% in the fourth quarter. Panagora Asset Management Inc. now owns 472,739 shares of the technology company’s stock valued at $7,474,000 after purchasing an additional 125,810 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in TTM Technologies by 4.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 934,498 shares of the technology company’s stock valued at $14,774,000 after purchasing an additional 40,111 shares during the last quarter. Allianz Asset Management GmbH boosted its position in TTM Technologies by 169.2% during the fourth quarter. Allianz Asset Management GmbH now owns 137,014 shares of the technology company’s stock valued at $2,166,000 after buying an additional 86,112 shares during the period. Finally, UniSuper Management Pty Ltd purchased a new stake in TTM Technologies during the first quarter valued at about $382,000. Institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Shawn A. Powers sold 7,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $20.50, for a total value of $143,500.00. Following the completion of the transaction, the executive vice president now directly owns 101,741 shares of the company’s stock, valued at $2,085,690.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other TTM Technologies news, EVP Daniel J. Weber sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $19.00, for a total transaction of $247,000.00. Following the completion of the transaction, the executive vice president now owns 94,488 shares of the company’s stock, valued at $1,795,272. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shawn A. Powers sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total transaction of $143,500.00. Following the transaction, the executive vice president now directly owns 101,741 shares of the company’s stock, valued at approximately $2,085,690.50. The disclosure for this sale can be found here. Insiders sold a total of 132,009 shares of company stock valued at $2,500,659 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

TTMI has been the subject of several analyst reports. B. Riley upped their price target on shares of TTM Technologies from $25.50 to $27.25 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and set a $24.00 price objective (up from $22.00) on shares of TTM Technologies in a research note on Thursday, August 1st. Needham & Company LLC upped their price objective on shares of TTM Technologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their price objective on shares of TTM Technologies from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $24.31.

TTM Technologies Price Performance

TTMI stock opened at $19.45 on Monday. TTM Technologies, Inc. has a 1 year low of $11.14 and a 1 year high of $22.70. The company has a market cap of $1.98 billion, a P/E ratio of -972.01 and a beta of 1.25. The firm has a 50-day moving average of $19.82 and a 200 day moving average of $17.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.04 and a quick ratio of 1.74.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. The company had revenue of $605.10 million during the quarter, compared to the consensus estimate of $582.70 million. During the same period in the prior year, the firm earned $0.28 earnings per share. TTM Technologies’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that TTM Technologies, Inc. will post 1.31 EPS for the current year.

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.