Victory Capital Management Inc. Cuts Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Victory Capital Management Inc. cut its holdings in TTM Technologies, Inc. (NASDAQ:TTMI) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 197,279 shares of the technology company’s stock after selling 32,147 shares during the period. Victory Capital Management Inc. owned approximately 0.19% of TTM Technologies worth $3,833,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in TTM Technologies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,941,612 shares of the technology company’s stock worth $30,697,000 after purchasing an additional 96,265 shares during the period. Jump Financial LLC bought a new stake in shares of TTM Technologies during the 4th quarter valued at $731,000. Norges Bank purchased a new position in TTM Technologies during the fourth quarter valued at $10,616,000. Allianz Asset Management GmbH grew its stake 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 acquiring an additional 86,112 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of TTM Technologies in the 4th quarter worth about $627,000. 95.79% of the stock is owned by institutional investors.

TTM Technologies Price Performance

Shares of NASDAQ TTMI opened at $18.21 on Tuesday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -910.04 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. The company’s 50-day moving average price is $19.47 and its 200 day moving average price is $17.72. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60.

TTM Technologies (NASDAQ:TTMI) last posted 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 net margin of 0.74% and a return on equity of 9.01%. The firm had revenue of $605.10 million during the quarter, compared to the consensus estimate of $582.70 million. During the same quarter in the prior year, the company earned $0.28 EPS. The company’s revenue was up 10.7% on a year-over-year basis. As a group, research analysts forecast that TTM Technologies, Inc. will post 1.31 earnings per share for the current fiscal year.

Insider Activity at TTM Technologies

In related news, insider Robert P. Farrell sold 5,159 shares of TTM Technologies stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $18.99, for a total transaction of $97,969.41. Following the transaction, the insider now directly owns 22,958 shares of the company’s stock, valued at $435,972.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Philip Titterton sold 21,910 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.99, for a total value of $416,070.90. Following the completion of the transaction, the chief operating officer now directly owns 157,528 shares in the company, valued at $2,991,456.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert P. Farrell sold 5,159 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.99, for a total value of $97,969.41. Following the transaction, the insider now owns 22,958 shares of the company’s stock, valued at $435,972.42. The disclosure for this sale can be found here. Insiders have sold a total of 132,009 shares of company stock worth $2,500,659 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TTMI has been the topic of several analyst reports. Truist Financial reiterated a “buy” rating and set a $24.00 price target (up from $22.00) on shares of TTM Technologies in a report on Thursday, August 1st. Needham & Company LLC increased their target price on shares of TTM Technologies from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. B. Riley increased their target price 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. Finally, Stifel Nicolaus upped their price target 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 analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $24.31.

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.