Navellier & Associates Inc lowered its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 63.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,987 shares of the technology company’s stock after selling 26,093 shares during the quarter. Navellier & Associates Inc’s holdings in TTM Technologies were worth $235,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the business. FDx Advisors Inc. acquired a new stake in shares of TTM Technologies in the 4th quarter valued at $160,000. Employees Retirement System of Texas acquired a new stake in shares of TTM Technologies in the 4th quarter valued at $548,000. UBS Asset Management Americas Inc. boosted its holdings in shares of TTM Technologies by 11.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 53,659 shares of the technology company’s stock valued at $841,000 after purchasing an additional 5,425 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of TTM Technologies in the 4th quarter valued at $3,058,000. Finally, Rhumbline Advisers boosted its holdings in shares of TTM Technologies by 15.3% in the 4th quarter. Rhumbline Advisers now owns 214,609 shares of the technology company’s stock valued at $3,363,000 after purchasing an additional 28,557 shares in the last quarter.
Shares of TTM Technologies, Inc. (NASDAQ TTMI) opened at $15.80 on Monday. The firm has a market capitalization of $1,617.03, a price-to-earnings ratio of 14.36 and a beta of 1.70. TTM Technologies, Inc. has a twelve month low of $12.76 and a twelve month high of $19.54. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.96.
In related news, insider William Kent Hardwick sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $15.66, for a total transaction of $31,320.00. Following the sale, the insider now owns 43,152 shares of the company’s stock, valued at approximately $675,760.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenton K. Alder sold 3,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $16.10, for a total value of $48,300.00. The disclosure for this sale can be found here. Company insiders own 28.40% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded TTM Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 14th. Needham & Company LLC reduced their target price on TTM Technologies from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a report on Thursday, February 8th. Stifel Nicolaus reduced their target price on TTM Technologies from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. BidaskClub raised TTM Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 target price (down previously from $22.00) on shares of TTM Technologies in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $19.50.
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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). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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