Pinebridge Investments L.P. reduced its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 18.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,472 shares of the technology company’s stock after selling 3,393 shares during the quarter. Pinebridge Investments L.P.’s holdings in TTM Technologies were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in TTMI. Nuveen Asset Management LLC bought a new stake in TTM Technologies during the 1st quarter worth about $34,984,000. Victory Capital Management Inc. raised its holdings in TTM Technologies by 47.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,542,592 shares of the technology company’s stock worth $44,826,000 after purchasing an additional 816,626 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in TTM Technologies by 50.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,280,099 shares of the technology company’s stock worth $40,198,000 after purchasing an additional 760,892 shares during the last quarter. Smith Graham & Co. Investment Advisors LP bought a new stake in TTM Technologies during the 2nd quarter worth about $8,778,000. Finally, Foresters Investment Management Company Inc. bought a new stake in TTM Technologies during the 1st quarter worth about $5,917,000.
Shares of TTMI stock opened at $18.37 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.57. The stock has a market capitalization of $1.94 billion, a PE ratio of 17.66 and a beta of 1.88. TTM Technologies, Inc. has a one year low of $13.72 and a one year high of $19.91.
TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The company had revenue of $716.89 million during the quarter, compared to analysts’ expectations of $728.97 million. TTM Technologies had a return on equity of 15.85% and a net margin of 5.91%. TTM Technologies’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. sell-side analysts expect that TTM Technologies, Inc. will post 1.09 earnings per share for the current fiscal year.
Several brokerages have weighed in on TTMI. BidaskClub raised TTM Technologies from a “hold” rating to a “buy” rating in a report on Friday, June 1st. ValuEngine raised TTM Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research cut TTM Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Stifel Nicolaus boosted their price objective on TTM Technologies from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 25th. Finally, Needham & Company LLC upped their price target on TTM Technologies from $20.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. TTM Technologies presently has a consensus rating of “Buy” and a consensus target price of $20.40.
In other news, EVP Tai Keung Chung sold 23,345 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $18.90, for a total value of $441,220.50. Following the completion of the sale, the executive vice president now directly owns 50,357 shares of the company’s stock, valued at approximately $951,747.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brian W. Barber sold 1,315 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $19.24, for a total value of $25,300.60. Following the completion of the sale, the chief operating officer now directly owns 76,280 shares of the company’s stock, valued at $1,467,627.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,292 shares of company stock valued at $553,339. 10.10% of the stock is currently owned by company insiders.
About TTM Technologies
TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments, PCB and E-M Solutions. The company offers a range of PCBs and electro-mechanical solutions, including conventional PCBs, high density interconnect PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, and IC substrates.
Featured Article: Stock Symbols, CUSIP and Other Stock Identifiers
Want to see what other hedge funds are holding TTMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TTM Technologies, Inc. (NASDAQ:TTMI).
Receive News & Ratings for TTM Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TTM Technologies and related companies with MarketBeat.com's FREE daily email newsletter.