Bank of New York Mellon Corp boosted its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 50.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,280,099 shares of the technology company’s stock after buying an additional 760,892 shares during the period. Bank of New York Mellon Corp owned 2.20% of TTM Technologies worth $40,198,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TTMI. Mount Yale Investment Advisors LLC acquired a new position in TTM Technologies during the first quarter worth $140,000. Element Capital Management LLC acquired a new position in TTM Technologies during the first quarter worth $209,000. Renaissance Technologies LLC acquired a new position in TTM Technologies during the fourth quarter worth $213,000. Oppenheimer Asset Management Inc. acquired a new position in shares of TTM Technologies in the 1st quarter valued at $235,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of TTM Technologies in the 1st quarter valued at $256,000.
Shares of TTM Technologies stock opened at $17.89 on Friday. TTM Technologies, Inc. has a 52 week low of $13.72 and a 52 week high of $19.91. The firm has a market capitalization of $1.94 billion, a PE ratio of 17.20 and a beta of 1.88. The company has a current ratio of 1.74, a quick ratio of 1.57 and a debt-to-equity ratio of 1.36.
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 the Thomson Reuters’ consensus estimate of $0.37 by $0.11. TTM Technologies had a return on equity of 15.85% and a net margin of 5.91%. The business had revenue of $716.89 million for the quarter, compared to analyst estimates of $728.97 million. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. equities analysts forecast that TTM Technologies, Inc. will post 1.09 earnings per share for the current fiscal year.
Several brokerages have recently commented on TTMI. BidaskClub lowered TTM Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. Zacks Investment Research lowered TTM Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. ValuEngine raised TTM Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. 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. Finally, Deutsche Bank began coverage on TTM Technologies in a research note on Thursday, June 14th. They issued a “hold” rating and a $19.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $20.40.
In related news, COO Brian W. Barber sold 1,315 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $19.24, for a total value of $25,300.60. Following the sale, the chief operating officer now owns 76,280 shares in the company, valued at approximately $1,467,627.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Kent Hardwick sold 3,115 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $18.91, for a total value of $58,904.65. Following the completion of the sale, the insider now owns 44,997 shares in the company, valued at approximately $850,893.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,292 shares of company stock worth $553,339. Corporate insiders own 10.10% of the company’s stock.
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.
Further Reading: Moving Average (MA)
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