State of Alaska Department of Revenue Decreases Position in TTM Technologies, Inc. (NASDAQ:TTMI)

State of Alaska Department of Revenue lessened its holdings in TTM Technologies, Inc. (NASDAQ:TTMI) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,500 shares of the technology company’s stock after selling 1,451 shares during the quarter. State of Alaska Department of Revenue’s holdings in TTM Technologies were worth $1,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of TTMI. Principal Financial Group Inc. increased its position in shares of TTM Technologies by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 494,446 shares of the technology company’s stock valued at $12,238,000 after acquiring an additional 13,918 shares during the period. Sanctuary Advisors LLC increased its position in shares of TTM Technologies by 6.8% in the fourth quarter. Sanctuary Advisors LLC now owns 34,431 shares of the technology company’s stock valued at $846,000 after acquiring an additional 2,184 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of TTM Technologies by 6.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the technology company’s stock valued at $423,000 after acquiring an additional 1,000 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of TTM Technologies in the fourth quarter valued at about $295,000. Finally, Smartleaf Asset Management LLC increased its position in shares of TTM Technologies by 670.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,220 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TTMI. Needham & Company LLC boosted their price objective on shares of TTM Technologies from $35.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, June 20th. Truist Financial boosted their price target on shares of TTM Technologies from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price target (up previously from $33.00) on shares of TTM Technologies in a research report on Monday, June 16th. Finally, B. Riley boosted their price target on shares of TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, May 1st.

Insiders Place Their Bets

In other news, insider Tom Clapprood sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $29.50, for a total value of $295,000.00. Following the transaction, the insider now owns 34,037 shares in the company, valued at approximately $1,004,091.50. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Dale Martin Knecht sold 1,140 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $34.00, for a total transaction of $38,760.00. Following the completion of the transaction, the senior vice president now owns 75,206 shares in the company, valued at approximately $2,557,004. This represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,226 shares of company stock worth $3,504,492. 1.30% of the stock is currently owned by company insiders.

TTM Technologies Price Performance

Shares of NASDAQ TTMI opened at $39.20 on Thursday. TTM Technologies, Inc. has a 1 year low of $15.77 and a 1 year high of $40.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.75. The company’s 50-day moving average is $29.00 and its 200 day moving average is $25.49. The stock has a market capitalization of $3.98 billion, a P/E ratio of 52.27 and a beta of 1.37.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. The company had revenue of $648.67 million for the quarter, compared to analysts’ expectations of $621.44 million. TTM Technologies had a net margin of 3.09% and a return on equity of 10.75%. TTM Technologies’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. On average, sell-side analysts expect that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies declared that its Board of Directors has initiated a stock repurchase program on Friday, May 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 3.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.