Bank of Montreal Can boosted its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 20.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,360 shares of the technology company’s stock after purchasing an additional 44,855 shares during the period. Bank of Montreal Can owned about 0.25% of TTM Technologies worth $2,707,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Mercantile Trust Co. purchased a new position in shares of TTM Technologies in the first quarter valued at about $26,000. Resources Investment Advisors Inc. purchased a new position in shares of TTM Technologies in the first quarter valued at about $34,000. Acadian Asset Management LLC purchased a new position in shares of TTM Technologies in the second quarter valued at about $45,000. Mizuho Securities Co. Ltd. purchased a new position in shares of TTM Technologies in the first quarter valued at about $70,000. Finally, Sawtooth Solutions LLC purchased a new position in shares of TTM Technologies in the first quarter valued at about $161,000.
In other news, insider Anthony J. Princiotta sold 23,222 shares of TTM Technologies stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $10.09, for a total value of $234,309.98. Following the sale, the insider now directly owns 51,408 shares of the company’s stock, valued at $518,706.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tai Keung Chung sold 29,839 shares of TTM Technologies stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $10.58, for a total value of $315,696.62. Following the completion of the sale, the executive vice president now directly owns 48,518 shares in the company, valued at $513,320.44. The disclosure for this sale can be found here. Insiders sold 74,939 shares of company stock worth $784,007 over the last ninety days. Insiders own 6.90% of the company’s stock.
Shares of TTM Technologies stock opened at $12.25 on Friday. The stock’s 50-day simple moving average is $10.62 and its 200-day simple moving average is $10.96. TTM Technologies, Inc. has a 52 week low of $8.49 and a 52 week high of $17.61. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 8.88 and a beta of 2.53. The company has a quick ratio of 1.71, a current ratio of 1.91 and a debt-to-equity ratio of 1.21.
TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. TTM Technologies had a return on equity of 6.56% and a net margin of 2.93%. The firm had revenue of $633.04 million for the quarter, compared to analysts’ expectations of $622.68 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The business’s revenue was down 11.7% compared to the same quarter last year. On average, equities analysts expect that TTM Technologies, Inc. will post 0.46 earnings per share for the current year.
Several equities analysts have recently commented on TTMI shares. ValuEngine upgraded TTM Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Stifel Nicolaus boosted their price objective on TTM Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. downgraded TTM Technologies from an “overweight” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a research report on Monday, August 5th. TheStreet downgraded TTM Technologies from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Finally, BidaskClub upgraded TTM Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $14.19.
About TTM Technologies
TTM Technologies, Inc, together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. It operates through two segments, PCB and E-M Solutions. The company offers a range of PCBs and electro-mechanical solutions, including conventional PCBs, high density interconnect PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, and IC substrates.
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