Principal Financial Group Inc. Lowers Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Principal Financial Group Inc. reduced its stake in TTM Technologies, Inc. (NASDAQ:TTMI) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 480,528 shares of the technology company’s stock after selling 21,431 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of TTM Technologies worth $8,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in TTM Technologies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 13,610,120 shares of the technology company’s stock worth $212,998,000 after purchasing an additional 63,073 shares in the last quarter. American Century Companies Inc. raised its holdings in TTM Technologies by 88.8% in the second quarter. American Century Companies Inc. now owns 1,479,403 shares of the technology company’s stock worth $28,745,000 after buying an additional 695,844 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of TTM Technologies by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 863,309 shares of the technology company’s stock worth $16,774,000 after buying an additional 12,789 shares in the last quarter. Emerald Advisers LLC purchased a new stake in shares of TTM Technologies during the third quarter valued at approximately $13,693,000. Finally, First Eagle Investment Management LLC increased its position in shares of TTM Technologies by 14.6% during the second quarter. First Eagle Investment Management LLC now owns 724,641 shares of the technology company’s stock valued at $14,080,000 after acquiring an additional 92,300 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other TTM Technologies news, EVP Shawn A. Powers sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total transaction of $143,500.00. Following the completion of the sale, the executive vice president now directly owns 101,741 shares of the company’s stock, valued at approximately $2,085,690.50. This represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Catherine A. Gridley sold 5,000 shares of TTM Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $25.15, for a total transaction of $125,750.00. Following the transaction, the executive vice president now owns 115,296 shares in the company, valued at $2,899,694.40. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,400 shares of company stock valued at $421,186. Insiders own 1.30% of the company’s stock.

TTM Technologies Stock Performance

TTMI stock opened at $23.23 on Tuesday. The company has a market cap of $2.37 billion, a P/E ratio of 35.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.00 and a quick ratio of 1.70. TTM Technologies, Inc. has a 1 year low of $13.43 and a 1 year high of $25.49. The stock’s fifty day moving average price is $20.09 and its 200-day moving average price is $19.49.

Analysts Set New Price Targets

A number of analysts have commented on the company. Stifel Nicolaus lifted their target price on TTM Technologies from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price objective on TTM Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial restated a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of TTM Technologies in a research note on Thursday, August 1st. Finally, B. Riley lifted their price target on shares of TTM Technologies from $25.50 to $27.25 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

TTM Technologies Company Profile

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.