Ameriprise Financial Inc. boosted its stake in shares of TTM Technologies Inc. (NASDAQ:TTMI) by 79.1% during the second quarter, Holdings Channel reports. The institutional investor owned 541,109 shares of the company’s stock after buying an additional 238,910 shares during the period. Ameriprise Financial Inc. owned approximately 0.54% of TTM Technologies worth $4,074,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Springbok Capital Management LLC increased its position 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 during the period. Oxford Asset Management bought a new position in shares of TTM Technologies during the second quarter valued at about $208,000. Ngam Advisors L.P. bought a new position in shares of TTM Technologies during the first quarter valued at about $212,000. Louisiana State Employees Retirement System increased its position 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 during the period. Finally, Mesirow Financial Investment Management Equity Management bought a new position in shares of TTM Technologies during the second quarter valued at about $254,000. Institutional investors own 71.23% of the company’s stock.
Shares of TTM Technologies Inc. (NASDAQ:TTMI) traded up 0.61% during mid-day trading on Wednesday, reaching $11.46. The company’s stock had a trading volume of 76,843 shares. The firm has a market cap of $1.15 billion, a PE ratio of 64.02 and a beta of 1.57. TTM Technologies Inc. has a 12 month low of $4.67 and a 12 month high of $12.11. The company has a 50-day moving average of $11.16 and a 200-day moving average of $8.75.
TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.10. TTM Technologies had a return on equity of 7.86% and a net margin of 0.74%. The company had revenue of $601.80 million for the quarter, compared to analysts’ expectations of $601.48 million. During the same quarter last year, the business earned $0.17 earnings per share. TTM Technologies’s revenue was up 35.1% on a year-over-year basis. On average, analysts predict that TTM Technologies Inc. will post $1.08 earnings per share for the current year.
Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research report on Saturday, July 30th. Stifel Nicolaus reduced their price target on shares of TTM Technologies from $11.00 to $9.50 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Needham & Company LLC upped their price target on shares of TTM Technologies from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of TTM Technologies in a research report on Tuesday, August 9th.
In related news, Director Kenton K. Alder sold 36,823 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $9.94, for a total value of $366,020.62. Following the transaction, the director now owns 35,267 shares in the company, valued at $350,553.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenton K. Alder sold 75,000 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $12.00, for a total value of $900,000.00. Following the completion of the transaction, the director now owns 85,267 shares in the company, valued at approximately $1,023,204. The disclosure for this sale can be found here. 28.40% of the stock is owned by corporate insiders.
About TTM Technologies
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.
Want to see what other hedge funds are holding TTMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TTM Technologies Inc. (NASDAQ:TTMI).
Receive News & Ratings for TTM Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TTM Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.