Federated Hermes Inc. Sells 80,695 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Federated Hermes Inc. lessened its holdings in TTM Technologies, Inc. (NASDAQ:TTMI) by 58.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,587 shares of the technology company’s stock after selling 80,695 shares during the period. Federated Hermes Inc. owned approximately 0.06% of TTM Technologies worth $1,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of TTM Technologies in the 4th quarter worth approximately $10,616,000. Allianz Asset Management GmbH raised its stake in TTM Technologies by 169.2% during the fourth quarter. Allianz Asset Management GmbH now owns 137,014 shares of the technology company’s stock worth $2,166,000 after acquiring an additional 86,112 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of TTM Technologies during the fourth quarter valued at $627,000. CastleKnight Management LP acquired a new stake in shares of TTM Technologies in the 4th quarter valued at $1,088,000. Finally, Bridgeway Capital Management LLC grew its holdings in shares of TTM Technologies by 4.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 934,498 shares of the technology company’s stock worth $14,774,000 after purchasing an additional 40,111 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert P. Farrell sold 5,159 shares of TTM Technologies stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.99, for a total transaction of $97,969.41. Following the completion of the sale, the insider now owns 22,958 shares in the company, valued at approximately $435,972.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other TTM Technologies news, insider Robert P. Farrell sold 5,159 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.99, for a total value of $97,969.41. Following the transaction, the insider now directly owns 22,958 shares of the company’s stock, valued at $435,972.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Philip Titterton sold 21,910 shares of TTM Technologies stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.99, for a total transaction of $416,070.90. Following the sale, the chief operating officer now directly owns 157,528 shares of the company’s stock, valued at approximately $2,991,456.72. The disclosure for this sale can be found here. In the last three months, insiders sold 132,009 shares of company stock valued at $2,500,659. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TTMI. Truist Financial reissued a “buy” rating and set a $24.00 price target (up from $22.00) on shares of TTM Technologies in a report on Thursday, August 1st. Stifel Nicolaus lifted their target price on shares of TTM Technologies from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC increased their price target on TTM Technologies from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, B. Riley raised their price target on TTM Technologies from $25.50 to $27.25 and gave the company a “buy” rating in a report on Thursday, August 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TTM Technologies has an average rating of “Buy” and an average price target of $24.31.

TTM Technologies Price Performance

TTMI opened at $18.16 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a market capitalization of $1.85 billion, a P/E ratio of -908.00 and a beta of 1.26. The company’s 50 day simple moving average is $19.27 and its 200-day simple moving average is $17.78. TTM Technologies, Inc. has a one year low of $11.14 and a one year high of $22.70.

TTM Technologies (NASDAQ:TTMI) last released its earnings results on Wednesday, July 31st. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. TTM Technologies had a return on equity of 9.01% and a net margin of 0.74%. The company had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $582.70 million. During the same period last year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts anticipate that TTM Technologies, Inc. will post 1.31 earnings per share for the current fiscal year.

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.