Rhumbline Advisers Cuts Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Rhumbline Advisers cut its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 323,914 shares of the technology company’s stock after selling 7,500 shares during the quarter. Rhumbline Advisers owned 0.32% of TTM Technologies worth $6,294,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TTMI. Louisiana State Employees Retirement System grew its position in shares of TTM Technologies by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 51,200 shares of the technology company’s stock valued at $995,000 after purchasing an additional 600 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in TTM Technologies by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 53,788 shares of the technology company’s stock valued at $1,045,000 after purchasing an additional 821 shares during the period. ProShare Advisors LLC raised its position in shares of TTM Technologies by 5.9% in the 1st quarter. ProShare Advisors LLC now owns 20,565 shares of the technology company’s stock worth $322,000 after buying an additional 1,150 shares during the period. CWM LLC lifted its position in TTM Technologies by 202.6% during the second quarter. CWM LLC now owns 1,858 shares of the technology company’s stock valued at $36,000 after buying an additional 1,244 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of TTM Technologies by 2.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,101 shares of the technology company’s stock worth $956,000 after purchasing an additional 1,358 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

TTM Technologies Stock Performance

Shares of TTMI opened at $18.26 on Friday. The firm has a 50-day moving average price of $19.51 and a 200 day moving average price of $17.67. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.86 billion, a PE ratio of -912.54 and a beta of 1.26. TTM Technologies, Inc. has a 52-week low of $11.14 and a 52-week high of $22.70.

TTM Technologies (NASDAQ:TTMI) last issued its 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 return on equity of 9.01% and a net margin of 0.74%. The business had revenue of $605.10 million for the quarter, compared to analysts’ expectations of $582.70 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that TTM Technologies, Inc. will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert P. Farrell sold 5,159 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $18.99, for a total transaction of $97,969.41. Following the completion of the sale, the insider now directly owns 22,958 shares of the company’s stock, valued at approximately $435,972.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Robert P. Farrell sold 5,159 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $18.99, for a total value of $97,969.41. Following the completion of the transaction, the insider now owns 22,958 shares of the company’s stock, valued at $435,972.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Catherine A. Gridley sold 10,000 shares of TTM Technologies stock in a transaction on Monday, August 5th. The shares were sold at an average price of $17.49, for a total value of $174,900.00. Following the transaction, the executive vice president now directly owns 120,296 shares of the company’s stock, valued at $2,103,977.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,009 shares of company stock worth $2,500,659. Corporate insiders own 1.30% of the company’s stock.

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.