State Board of Administration of Florida Retirement System held its position in TTM Technologies Inc. (NASDAQ:TTMI) during the second quarter, Holdings Channel reports. The institutional investor owned 56,758 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned 0.06% of TTM Technologies worth $427,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TTMI. Springbok Capital Management LLC increased its stake in shares of TTM Technologies by 4,900.3% in the first quarter. Springbok Capital Management LLC now owns 19,851 shares of the company’s stock valued at $132,000 after buying an additional 19,454 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of TTM Technologies by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock valued at $217,000 after buying an additional 200 shares in the last quarter. Ngam Advisors L.P. acquired a new stake in shares of TTM Technologies during the first quarter valued at approximately $212,000. Algert Global LLC acquired a new stake in shares of TTM Technologies during the first quarter valued at approximately $226,000. Finally, Menta Capital LLC increased its stake in shares of TTM Technologies by 54.1% in the first quarter. Menta Capital LLC now owns 47,720 shares of the company’s stock valued at $317,000 after buying an additional 16,760 shares in the last quarter. 71.21% of the stock is owned by institutional investors.
TTM Technologies Inc. (NASDAQ:TTMI) traded up 1.45% during trading on Friday, hitting $11.89. The stock had a trading volume of 1,767,864 shares. The firm has a market cap of $1.19 billion, a PE ratio of 66.42 and a beta of 1.57. TTM Technologies Inc. has a 52-week low of $4.67 and a 52-week high of $11.90. The company’s 50 day moving average is $10.97 and its 200 day moving average is $8.50.
TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.10. TTM Technologies had a net margin of 0.74% and a return on equity of 7.86%. The company had revenue of $601.80 million for the quarter, compared to analysts’ expectations of $601.48 million. During the same period in the prior year, the business earned $0.17 EPS. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. Equities research analysts forecast that TTM Technologies Inc. will post $1.08 earnings per share for the current year.
Several brokerages have commented on TTMI. JPMorgan Chase & Co. reiterated a “buy” rating on shares of TTM Technologies in a research note on Sunday, June 12th. Zacks Investment Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a research note on Saturday, July 30th. Needham & Company LLC increased their target price on TTM Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Stifel Nicolaus cut their target price on TTM Technologies from $11.00 to $9.50 and set a “buy” rating on the stock in a research note on Thursday, July 28th.
In other news, EVP Tai Keung Chung sold 70,000 shares of TTM Technologies stock in a transaction on Monday, August 1st. The stock was sold at an average price of $10.46, for a total value of $732,200.00. Following the transaction, the executive vice president now directly owns 100,758 shares in the company, valued at approximately $1,053,928.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenton K. Alder sold 36,823 shares of TTM Technologies stock in a transaction on Friday, July 29th. The shares were sold at an average price of $9.94, for a total value of $366,020.62. Following the completion of the transaction, the director now owns 35,267 shares in the company, valued at $350,553.98. The disclosure for this sale can be found here. 28.40% of the stock is owned by insiders.
TTM Technologies Company Profile
TTM Technologies, Inc is a manufacturer of printed circuit board (PCB) products and is focused on technologically advanced PCBs and electro-mechanical solutions (E-M Solutions). The Company operates approximately 30 specialized facilities in the United States, the People’s Republic of China (China), Canada and Mexico.
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