California State Teachers Retirement System Raises Stock Position in TTM Technologies, Inc. $TTMI

California State Teachers Retirement System boosted its position in TTM Technologies, Inc. (NASDAQ:TTMI) by 22.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 119,733 shares of the technology company’s stock after purchasing an additional 21,622 shares during the quarter. California State Teachers Retirement System’s holdings in TTM Technologies were worth $11,664,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of TTM Technologies by 3.5% in the fourth quarter. Invesco Ltd. now owns 4,980,091 shares of the technology company’s stock worth $343,626,000 after buying an additional 166,188 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in TTM Technologies by 112.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company’s stock worth $295,066,000 after acquiring an additional 2,260,035 shares during the last quarter. Polar Capital Holdings Plc bought a new position in TTM Technologies in the 3rd quarter worth about $176,376,000. Geode Capital Management LLC raised its holdings in shares of TTM Technologies by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock valued at $184,119,000 after acquiring an additional 81,588 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of TTM Technologies by 22.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,237,627 shares of the technology company’s stock worth $154,396,000 after purchasing an additional 406,202 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TTM Technologies

In related news, EVP Daniel J. Weber sold 2,915 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $609,060.10. Following the transaction, the executive vice president directly owned 88,250 shares in the company, valued at $18,438,955. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Catherine A. Gridley sold 3,056 shares of TTM Technologies stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $638,520.64. Following the completion of the transaction, the executive vice president directly owned 71,866 shares in the company, valued at $15,015,682.04. This trade represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,043 shares of company stock worth $17,191,859 over the last three months. Corporate insiders own 1.30% of the company’s stock.

TTM Technologies Stock Up 5.0%

Shares of NASDAQ:TTMI opened at $121.21 on Tuesday. The stock’s 50-day moving average price is $166.18 and its 200-day moving average price is $133.05. TTM Technologies, Inc. has a 12-month low of $39.20 and a 12-month high of $223.83. The stock has a market capitalization of $12.59 billion, a P/E ratio of 65.52 and a beta of 2.15. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings cut shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Needham & Company LLC increased their target price on TTM Technologies from $208.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Zacks Research downgraded TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen lowered TTM Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, B. Riley Financial upped their price objective on TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

TTM Technologies Profile

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.