TTM Technologies, Inc. (TTMI) Stake Decreased by Hussman Strategic Advisors Inc.
Hussman Strategic Advisors Inc. cut its stake in TTM Technologies, Inc. (NASDAQ:TTMI) by 42.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the technology company’s stock after selling 150,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in TTM Technologies were worth $3,472,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in TTMI. Ameritas Investment Partners Inc. acquired a new position in shares of TTM Technologies during the first quarter valued at approximately $101,000. State of Alaska Department of Revenue increased its position in shares of TTM Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock valued at $150,000 after buying an additional 140 shares during the last quarter. Sei Investments Co. increased its position in shares of TTM Technologies by 197.1% in the second quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock valued at $161,000 after buying an additional 6,127 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in shares of TTM Technologies during the first quarter valued at approximately $167,000. Finally, 361 Capital LLC acquired a new position in shares of TTM Technologies during the first quarter valued at approximately $171,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.
TTM Technologies, Inc. (NASDAQ TTMI) opened at 14.01 on Tuesday. TTM Technologies, Inc. has a 12-month low of $10.04 and a 12-month high of $19.54. The firm’s 50-day moving average price is $18.19 and its 200 day moving average price is $16.65. The firm has a market cap of $1.43 billion, a P/E ratio of 19.49 and a beta of 1.46.
TTM Technologies (NASDAQ:TTMI) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.04. TTM Technologies had a net margin of 2.97% and a return on equity of 17.05%. The company had revenue of $627.20 million during the quarter, compared to analyst estimates of $625.43 million. During the same quarter in the prior year, the business earned $0.28 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that TTM Technologies, Inc. will post $1.53 earnings per share for the current fiscal year.
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Several brokerages have recently commented on TTMI. BidaskClub raised TTM Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. TheStreet raised TTM Technologies from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Zacks Investment Research raised TTM Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Needham & Company LLC boosted their target price on TTM Technologies from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $17.50 target price on shares of TTM Technologies in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.88.
In other TTM Technologies news, Director Kenton K. Alder sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $16.25, for a total value of $48,750.00. Following the sale, the director now owns 42,492 shares in the company, valued at $690,495. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Daniel J. Weber sold 3,605 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $17.92, for a total transaction of $64,601.60. Following the completion of the sale, the senior vice president now owns 48,270 shares in the company, valued at approximately $864,998.40. The disclosure for this sale can be found here. Insiders sold 14,074 shares of company stock worth $249,890 in the last 90 days. Company 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). As of January 2, 2017, the Company operated a total of 25 specialized facilities in North America and China. The Company’s segments include PCB, E-M Solutions and Corporate.
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