TTM Technologies, Inc. $TTMI Stock Position Trimmed by Prospect Capital Advisors LLC

Prospect Capital Advisors LLC reduced its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 39.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 75,760 shares of the technology company’s stock after selling 49,190 shares during the period. TTM Technologies makes up 4.1% of Prospect Capital Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Prospect Capital Advisors LLC’s holdings in TTM Technologies were worth $7,381,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of TTM Technologies by 3.5% in the 4th quarter. Invesco Ltd. now owns 4,980,091 shares of the technology company’s stock worth $343,626,000 after purchasing an additional 166,188 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in TTM Technologies by 112.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company’s stock valued at $295,066,000 after buying an additional 2,260,035 shares during the last quarter. Polar Capital Holdings Plc bought a new position in shares of TTM Technologies during the third quarter valued at about $176,376,000. Geode Capital Management LLC lifted its holdings in 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 worth $184,119,000 after buying an additional 81,588 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in TTM Technologies by 22.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,237,627 shares of the technology company’s stock worth $154,396,000 after acquiring an additional 406,202 shares during the period. Institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

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

TTM Technologies Trading Down 0.1%

TTMI opened at $115.44 on Friday. The firm has a market cap of $11.99 billion, a P/E ratio of 62.40 and a beta of 2.10. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $167.56 and a 200 day moving average of $132.47. TTM Technologies, Inc. has a 12 month low of $39.20 and a 12 month high of $223.83.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $845.98 million during the quarter, compared to analysts’ expectations of $789.84 million. TTM Technologies had a net margin of 6.29% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. As a group, research analysts forecast that TTM Technologies, Inc. will post 3.66 EPS for the current year.

Insider Buying and Selling at TTM Technologies

In related news, EVP Douglas L. Soder sold 2,874 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $208.94, for a total transaction of $600,493.56. Following the completion of the transaction, the executive vice president owned 210,634 shares in the company, valued at $44,009,867.96. The trade was a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Shawn A. Powers sold 3,367 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $703,500.98. Following the completion of the sale, the executive vice president directly owned 120,801 shares of the company’s stock, valued at approximately $25,240,160.94. This represents a 2.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,043 shares of company stock worth $17,191,859 over the last quarter. Insiders own 1.30% of the company’s stock.

About TTM Technologies

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.