TTM Technologies, Inc. (TTMI) Position Reduced by Victory Capital Management Inc.
Victory Capital Management Inc. decreased its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,575,178 shares of the technology company’s stock after selling 81,693 shares during the period. Victory Capital Management Inc. owned about 1.55% of TTM Technologies worth $27,346,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in TTMI. Ameritas Investment Partners Inc. purchased a new stake in shares of TTM Technologies during the first quarter valued at about $101,000. State of Alaska Department of Revenue increased its stake in shares of TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock valued at $150,000 after buying an additional 140 shares during the period. Sei Investments Co. increased its stake in shares of TTM Technologies by 197.1% in the second quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock valued at $161,000 after buying an additional 6,127 shares during the period. Eqis Capital Management Inc. purchased a new stake in shares of TTM Technologies during the first quarter valued at about $167,000. Finally, 361 Capital LLC purchased a new stake in shares of TTM Technologies during the first quarter valued at about $171,000. 95.16% of the stock is currently owned by institutional investors.
TTM Technologies, Inc. (NASDAQ:TTMI) opened at 14.58 on Friday. TTM Technologies, Inc. has a 12-month low of $10.04 and a 12-month high of $19.54. The stock has a market capitalization of $1.48 billion, a PE ratio of 20.39 and a beta of 1.51. The stock’s 50 day moving average is $15.48 and its 200 day moving average is $16.36.
TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.04. TTM Technologies had a return on equity of 17.05% and a net margin of 2.97%. The company had revenue of $627.20 million for the quarter, compared to analyst estimates of $625.43 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Analysts forecast that TTM Technologies, Inc. will post $1.53 EPS for the current year.
Several analysts have issued reports on the stock. Stifel Nicolaus raised shares of TTM Technologies from a “hold” rating to a “buy” rating and set a $17.50 target price on the stock in a research note on Thursday, August 24th. They noted that the move was a valuation call. BidaskClub raised shares of TTM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. J P Morgan Chase & Co set a $22.00 target price on shares of TTM Technologies and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, ValuEngine downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. TTM Technologies currently has a consensus rating of “Buy” and an average target price of $20.13.
In related news, SVP Daniel J. Weber sold 3,605 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total transaction of $64,601.60. Following the sale, the senior vice president now directly owns 48,270 shares in the company, valued at $864,998.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenton K. Alder sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $18.09, for a total transaction of $54,270.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,074 shares of company stock worth $244,010. 28.40% of the stock is currently owned by company insiders.
About TTM Technologies
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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