Northern Trust Corp Has $28.70 Million Stock Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Northern Trust Corp raised its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,159,576 shares of the technology company’s stock after purchasing an additional 84,137 shares during the quarter. Northern Trust Corp owned 1.14% of TTM Technologies worth $28,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of TTM Technologies by 59.8% in the 3rd quarter. Barclays PLC now owns 407,524 shares of the technology company’s stock worth $7,437,000 after acquiring an additional 152,456 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of TTM Technologies by 262.5% in the 3rd quarter. Franklin Resources Inc. now owns 309,724 shares of the technology company’s stock worth $5,937,000 after acquiring an additional 224,286 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of TTM Technologies by 27.7% in the 4th 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. USA Financial Formulas acquired a new position in shares of TTM Technologies in the 4th quarter worth approximately $25,000. Finally, KBC Group NV boosted its holdings in shares of TTM Technologies by 47.4% in the 4th quarter. KBC Group NV now owns 4,404 shares of the technology company’s stock worth $109,000 after acquiring an additional 1,416 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, EVP Catherine A. Gridley sold 6,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $26.25, for a total transaction of $157,500.00. Following the completion of the sale, the executive vice president now owns 125,206 shares in the company, valued at approximately $3,286,657.50. The trade was a 4.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Philip Titterton sold 24,792 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $25.56, for a total transaction of $633,683.52. Following the sale, the chief operating officer now owns 157,528 shares of the company’s stock, valued at $4,026,415.68. The trade was a 13.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,600 shares of company stock worth $1,310,642. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TTMI shares. Stifel Nicolaus started coverage on TTM Technologies in a report on Tuesday, February 11th. They issued a “buy” rating and a $33.00 target price on the stock. Truist Financial dropped their price objective on shares of TTM Technologies from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC boosted their price objective on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, B. Riley boosted their price objective on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st.

TTM Technologies Stock Performance

TTMI stock opened at $26.88 on Monday. 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 company has a 50 day moving average price of $21.16 and a 200 day moving average price of $23.40. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $30.41. The stock has a market capitalization of $2.73 billion, a PE ratio of 49.78 and a beta of 1.20.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The firm had revenue of $648.67 million during the quarter, compared to analysts’ expectations of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. TTM Technologies’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. Analysts forecast that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies announced that its Board of Directors has approved a stock repurchase plan on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

TTM Technologies 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.