Massachusetts Financial Services Co. MA Grows Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Massachusetts Financial Services Co. MA increased its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 50.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,534,166 shares of the technology company's stock after purchasing an additional 515,015 shares during the period. Massachusetts Financial Services Co. MA owned 1.50% of TTM Technologies worth $37,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TTMI. Franklin Resources Inc. lifted its position in shares of TTM Technologies by 532.1% in the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock valued at $48,454,000 after acquiring an additional 1,648,017 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of TTM Technologies by 391.6% during the fourth 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of TTM Technologies in the third quarter valued at about $6,479,000. Norges Bank purchased a new position in shares of TTM Technologies in the fourth quarter worth about $8,610,000. Finally, Emerald Advisers LLC boosted its position in TTM Technologies by 42.9% during the fourth quarter. Emerald Advisers LLC now owns 1,072,133 shares of the technology company's stock worth $26,535,000 after acquiring an additional 321,853 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In other news, EVP Catherine A. Gridley sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $26.25, for a total value of $157,500.00. Following the completion of the transaction, the executive vice president now owns 125,206 shares of the company's stock, valued at approximately $3,286,657.50. This trade represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel J. Weber sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.34, for a total transaction of $395,100.00. Following the sale, the executive vice president now directly owns 95,153 shares in the company, valued at approximately $2,506,330.02. The trade was a 13.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,817 shares of company stock worth $1,316,006 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

TTM Technologies Trading Down 7.3 %

NASDAQ:TTMI traded down $1.45 on Thursday, reaching $18.39. The company's stock had a trading volume of 127,274 shares, compared to its average volume of 750,069. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 34.22 and a beta of 1.17. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. TTM Technologies, Inc. has a 12-month low of $13.43 and a 12-month high of $30.41. The stock has a 50 day moving average price of $22.93 and a 200 day moving average price of $23.02.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. On average, equities analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TTMI. Stifel Nicolaus assumed coverage on TTM Technologies in a research report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $33.00 price objective on shares of TTM Technologies in a research report on Friday, March 21st.

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.