State of New Jersey Common Pension Fund D Sells 13,686 Shares of TTM Technologies, Inc. $TTMI

State of New Jersey Common Pension Fund D cut its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 17.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,857 shares of the technology company’s stock after selling 13,686 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TTM Technologies were worth $2,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTMI. Quarry LP lifted its holdings in shares of TTM Technologies by 249.9% during the first quarter. Quarry LP now owns 2,110 shares of the technology company’s stock valued at $43,000 after purchasing an additional 1,507 shares in the last quarter. Concord Wealth Partners bought a new stake in TTM Technologies during the 2nd quarter valued at approximately $47,000. CWM LLC raised its stake in TTM Technologies by 14.4% during the 1st quarter. CWM LLC now owns 4,501 shares of the technology company’s stock valued at $92,000 after purchasing an additional 567 shares during the period. GAMMA Investing LLC increased its stake in TTM Technologies by 30.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,244 shares of the technology company’s stock worth $132,000 after acquiring an additional 760 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of TTM Technologies by 227.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,295 shares of the technology company’s stock valued at $150,000 after purchasing an additional 5,064 shares during the last quarter. 95.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TTMI. Zacks Research cut TTM Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Truist Financial increased their price objective on TTM Technologies from $41.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 7th. Stifel Nicolaus raised their target price on TTM Technologies from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. B. Riley reiterated a “buy” rating on shares of TTM Technologies in a research report on Friday, October 10th. Finally, Weiss Ratings upgraded TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Insider Activity at TTM Technologies

In related news, EVP Catherine A. Gridley sold 20,000 shares of TTM Technologies stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $44.31, for a total value of $886,200.00. Following the completion of the transaction, the executive vice president directly owned 81,986 shares in the company, valued at approximately $3,632,799.66. This trade represents a 19.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wajid Ali bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $41.75 per share, with a total value of $208,750.00. Following the completion of the acquisition, the director owned 19,024 shares of the company’s stock, valued at $794,252. This trade represents a 35.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 66,477 shares of company stock valued at $2,867,405 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

TTM Technologies Stock Performance

NASDAQ TTMI opened at $59.21 on Wednesday. The company has a market cap of $6.12 billion, a PE ratio of 65.79 and a beta of 1.63. The stock’s 50 day simple moving average is $52.37 and its 200-day simple moving average is $41.02. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $62.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 1.72.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. TTM Technologies had a return on equity of 11.80% and a net margin of 3.52%.The firm had revenue of $730.62 million during the quarter, compared to analysts’ expectations of $668.42 million. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities research analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies Company 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.