Crestline Management LP Acquires Shares of 26,186 TTM Technologies, Inc. (NASDAQ:TTMI)

Crestline Management LP bought a new position in TTM Technologies, Inc. (NASDAQ:TTMI) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 26,186 shares of the technology company’s stock, valued at approximately $648,000.

Several other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in TTM Technologies by 532.1% during the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company’s stock worth $48,454,000 after purchasing an additional 1,648,017 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of TTM Technologies by 391.6% in the 4th quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company’s stock worth $24,268,000 after buying an additional 781,058 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of TTM Technologies in the fourth quarter valued at approximately $19,040,000. Massachusetts Financial Services Co. MA increased its position in shares of TTM Technologies by 50.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company’s stock valued at $37,971,000 after acquiring an additional 515,015 shares during the last quarter. Finally, Norges Bank bought a new stake in TTM Technologies during the fourth quarter worth $8,610,000. Institutional investors own 95.79% of the company’s stock.

Insider Transactions at TTM Technologies

In other TTM Technologies news, EVP Catherine A. Gridley sold 6,000 shares of the business’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 transaction, the executive vice president now directly owns 125,206 shares of the company’s stock, valued at approximately $3,286,657.50. The trade was a 4.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Philip Titterton sold 24,792 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $25.56, for a total transaction of $633,683.52. Following the transaction, the chief operating officer now owns 157,528 shares in the company, valued at $4,026,415.68. This represents a 13.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,600 shares of company stock worth $1,310,642. Insiders own 1.30% of the company’s stock.

TTM Technologies Stock Performance

NASDAQ TTMI opened at $26.88 on Friday. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $30.41. The company has a fifty day moving average of $21.16 and a 200-day moving average of $23.34. The company has a market capitalization of $2.73 billion, a P/E ratio of 49.78 and a beta of 1.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The business had revenue of $648.67 million for the quarter, compared to analysts’ expectations of $621.44 million. During the same period last year, the business earned $0.28 earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its Board of Directors has authorized a share buyback plan on Friday, May 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to buy up to 3.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

TTMI has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on TTM Technologies from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. B. Riley boosted their target price on shares of TTM Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Needham & Company LLC raised their price target on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus started coverage on TTM Technologies in a research note on Tuesday, February 11th. They issued a “buy” rating and a $33.00 price objective on the stock.

About TTM Technologies

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.