Rhumbline Advisers Lowers Stock Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Rhumbline Advisers cut its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 303,951 shares of the technology company’s stock after selling 7,297 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of TTM Technologies worth $7,523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TTMI. USA Financial Formulas bought a new position in TTM Technologies during the 4th quarter worth about $25,000. Quarry LP purchased a new position in TTM Technologies in the third quarter worth $34,000. Covestor Ltd grew its stake in TTM Technologies by 3,220.3% during the 3rd quarter. Covestor Ltd now owns 1,959 shares of the technology company’s stock worth $36,000 after buying an additional 1,900 shares during the last quarter. GAMMA Investing LLC boosted its holdings in TTM Technologies by 27.7% in the fourth quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company’s stock worth $51,000 after acquiring an additional 443 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of TTM Technologies during the fourth quarter worth about $83,000. Institutional investors own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TTMI. Stifel Nicolaus started coverage on shares of TTM Technologies in a research note on Tuesday, February 11th. They set a “buy” rating and a $33.00 price target on the stock. Needham & Company LLC increased their price target on shares of TTM Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, February 6th.

TTM Technologies Price Performance

Shares of NASDAQ TTMI opened at $24.24 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 44.89 and a beta of 1.19. The firm’s 50 day simple moving average is $25.25 and its 200-day simple moving average is $22.41. TTM Technologies, Inc. has a 12 month low of $13.43 and a 12 month high of $30.41.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. Analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at TTM Technologies

In other news, SVP Dale Martin Knecht sold 3,848 shares of TTM Technologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.01, for a total value of $100,086.48. Following the sale, the senior vice president now owns 86,346 shares in the company, valued at $2,245,859.46. This trade represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Jankowsky sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the insider now directly owns 50,273 shares of the company’s stock, valued at $1,256,825. The trade was a 9.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,317 shares of company stock valued at $2,053,846. Company insiders own 1.30% of the company’s stock.

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.