Bank of New York Mellon Corp Lowers Stock Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Bank of New York Mellon Corp cut its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 732,735 shares of the technology company's stock after selling 36,591 shares during the quarter. Bank of New York Mellon Corp owned 0.72% of TTM Technologies worth $18,135,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in TTM Technologies in the third quarter valued at $18,600,000. Point72 Hong Kong Ltd acquired a new stake in TTM Technologies in the third quarter valued at $15,314,000. Loomis Sayles & Co. L P lifted its holdings in TTM Technologies by 41.7% in the third quarter. Loomis Sayles & Co. L P now owns 1,249,540 shares of the technology company's stock valued at $22,804,000 after acquiring an additional 367,608 shares during the period. Point72 Asset Management L.P. acquired a new stake in TTM Technologies in the third quarter valued at $6,479,000. Finally, Phocas Financial Corp. acquired a new stake in TTM Technologies in the third quarter valued at $5,302,000. 95.79% of the stock is owned by institutional investors and hedge funds.

TTM Technologies Stock Performance

NASDAQ TTMI opened at $22.05 on Wednesday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 40.83 and a beta of 1.19. TTM Technologies, Inc. has a 1-year low of $13.43 and a 1-year high of $30.41. 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 business's 50-day simple moving average is $24.87 and its 200-day simple moving average is $22.69.

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TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. Equities analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, COO Philip Titterton sold 24,792 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total transaction of $633,683.52. Following the transaction, the chief operating officer now directly owns 157,528 shares of the company's stock, valued at approximately $4,026,415.68. This trade represents a 13.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel J. Weber sold 15,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.34, for a total value of $395,100.00. Following the transaction, the executive vice president now directly owns 95,153 shares in the company, valued at $2,506,330.02. This trade represents a 13.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,317 shares of company stock valued at $1,303,846 over the last three months. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TTMI shares. Stifel Nicolaus started coverage on TTM Technologies in a research note on Tuesday, February 11th. They set a "buy" rating and a $33.00 price target for the company. Needham & Company LLC lifted their price target on TTM Technologies from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th.

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.

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