California Public Employees Retirement System lowered its stake in TTM Technologies Inc. (NASDAQ:TTMI) by 6.0% during the third quarter, Holdings Channel reports. The firm owned 404,753 shares of the company’s stock after selling 25,900 shares during the period. California Public Employees Retirement System owned 0.40% of TTM Technologies worth $4,634,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of TTMI. MSI Financial Services Inc bought a new stake in shares of TTM Technologies during the third quarter valued at $103,000. Engineers Gate Manager LP bought a new stake in shares of TTM Technologies during the second quarter valued at $128,000. Citadel Advisors LLC bought a new stake in shares of TTM Technologies during the second quarter valued at $131,000. Springbok Capital Management LLC increased its stake in shares of TTM Technologies by 4,900.3% in the first quarter. Springbok Capital Management LLC now owns 19,851 shares of the company’s stock valued at $132,000 after buying an additional 19,454 shares during the period. Finally, BlackRock Inc. increased its stake in shares of TTM Technologies by 263.9% in the second quarter. BlackRock Inc. now owns 17,945 shares of the company’s stock valued at $136,000 after buying an additional 13,014 shares during the period. Institutional investors own 73.47% of the company’s stock.
TTM Technologies Inc. (NASDAQ:TTMI) traded down 1.24% on Friday, hitting $13.55. The stock had a trading volume of 941,852 shares. The firm has a market cap of $1.36 billion, a PE ratio of 29.78 and a beta of 1.44. TTM Technologies Inc. has a 12-month low of $4.67 and a 12-month high of $15.00. The company’s 50 day moving average is $12.69 and its 200 day moving average is $9.98.
TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. TTM Technologies had a return on equity of 12.58% and a net margin of 1.86%. The company earned $641.72 million during the quarter, compared to the consensus estimate of $641.47 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that TTM Technologies Inc. will post $1.27 EPS for the current fiscal year.
Several equities research analysts have weighed in on the company. TheStreet upgraded TTM Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. restated a “buy” rating on shares of TTM Technologies in a report on Tuesday, August 9th. Zacks Investment Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a report on Saturday, July 30th. Finally, Needham & Company LLC increased their price objective on TTM Technologies from $12.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, October 27th. Five research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $12.38.
In other TTM Technologies news, SVP Daniel J. Weber sold 4,565 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $11.00, for a total transaction of $50,215.00. Following the sale, the senior vice president now directly owns 48,571 shares of the company’s stock, valued at approximately $534,281. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas L. Soder sold 98,762 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $13.28, for a total transaction of $1,311,559.36. Following the sale, the insider now directly owns 88,416 shares in the company, valued at $1,174,164.48. The disclosure for this sale can be found here. Insiders own 28.40% of the company’s stock.
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). The Company operates approximately 30 specialized facilities in the United States, the People’s Republic of China (China), Canada and Mexico.