Corebridge Financial Inc. Lowers Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Corebridge Financial Inc. reduced its stake in TTM Technologies, Inc. (NASDAQ:TTMI) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,791 shares of the technology company’s stock after selling 4,200 shares during the period. Corebridge Financial Inc.’s holdings in TTM Technologies were worth $1,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. USA Financial Formulas bought a new position in TTM Technologies in the 4th quarter worth about $25,000. Smartleaf Asset Management LLC raised its holdings in TTM Technologies by 670.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock worth $35,000 after buying an additional 1,220 shares during the last quarter. Quarry LP bought a new position in shares of TTM Technologies in the third quarter worth approximately $34,000. GAMMA Investing LLC grew its holdings in shares of TTM Technologies by 27.7% during the fourth quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company’s stock valued at $51,000 after buying an additional 443 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of TTM Technologies during the fourth quarter valued at approximately $83,000. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Stock Down 10.9 %

Shares of TTM Technologies stock opened at $18.78 on Friday. TTM Technologies, Inc. has a twelve month low of $13.43 and a twelve month high of $30.41. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $23.66 and its 200 day moving average is $23.01. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 34.78 and a beta of 1.17.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. Research analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

TTMI has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of TTM Technologies in a research note on Friday, March 21st. Stifel Nicolaus initiated coverage on TTM Technologies in a report on Tuesday, February 11th. They set a “buy” rating and a $33.00 price target on the stock.

Insider Buying and Selling at TTM Technologies

In related news, SVP Dale Martin Knecht sold 3,848 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.01, for a total transaction of $100,086.48. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 approximately $2,506,330.02. This represents a 13.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,817 shares of company stock valued at $1,316,006. 1.30% of the stock is owned by company insiders.

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.