Inspire Investing LLC Cuts Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Inspire Investing LLC cut its holdings in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 61.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,750 shares of the technology company's stock after selling 36,537 shares during the period. Inspire Investing LLC's holdings in TTM Technologies were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TTMI. American Century Companies Inc. boosted its stake in TTM Technologies by 88.8% during the second quarter. American Century Companies Inc. now owns 1,479,403 shares of the technology company's stock worth $28,745,000 after acquiring an additional 695,844 shares in the last quarter. Hood River Capital Management LLC acquired a new position in shares of TTM Technologies during the second quarter valued at about $8,806,000. Archon Capital Management LLC bought a new position in shares of TTM Technologies during the 1st quarter worth about $3,097,000. Algert Global LLC grew its stake in shares of TTM Technologies by 137.5% in the 2nd quarter. Algert Global LLC now owns 218,938 shares of the technology company's stock valued at $4,254,000 after buying an additional 126,748 shares during the period. Finally, First Eagle Investment Management LLC increased its position in TTM Technologies by 14.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 724,641 shares of the technology company's stock valued at $14,080,000 after buying an additional 92,300 shares in the last quarter. 95.79% of the stock is owned by institutional investors.

TTM Technologies Stock Up 3.5 %

Shares of NASDAQ:TTMI traded up $0.69 during mid-day trading on Wednesday, hitting $20.13. 1,080,377 shares of the company traded hands, compared to its average volume of 654,442. The stock has a 50-day moving average price of $18.62 and a two-hundred day moving average price of $18.27. TTM Technologies, Inc. has a 12-month low of $11.14 and a 12-month high of $22.70. The stock has a market cap of $2.05 billion, a P/E ratio of 125.82 and a beta of 1.25. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.05. TTM Technologies had a net margin of 0.74% and a return on equity of 9.01%. The firm had revenue of $605.10 million for the quarter, compared to the consensus estimate of $582.70 million. During the same period in the previous year, the firm earned $0.28 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that TTM Technologies, Inc. will post 1.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Shawn A. Powers sold 7,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $20.50, for a total transaction of $143,500.00. Following the completion of the sale, the executive vice president now directly owns 101,741 shares of the company's stock, valued at approximately $2,085,690.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other TTM Technologies news, SVP Dale Martin Knecht sold 20,000 shares of the business's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $17.40, for a total value of $348,000.00. Following the transaction, the senior vice president now directly owns 81,392 shares in the company, valued at $1,416,220.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shawn A. Powers sold 7,000 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $20.50, for a total value of $143,500.00. Following the completion of the transaction, the executive vice president now owns 101,741 shares in the company, valued at approximately $2,085,690.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,000 shares of company stock valued at $1,153,900 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Needham & Company LLC increased their price target on TTM Technologies from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of TTM Technologies from $19.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. B. Riley boosted their price target on shares of TTM Technologies from $25.50 to $27.25 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Truist Financial reaffirmed a "buy" rating and issued a $24.00 price objective (up from $22.00) on shares of TTM Technologies in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $24.31.

TTM Technologies Profile

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.