Prudential Financial Inc. Acquires 123,470 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Prudential Financial Inc. lifted its stake in TTM Technologies, Inc. (NASDAQ:TTMI) by 26.8% during the fourth quarter, HoldingsChannel reports. The firm owned 583,727 shares of the technology company’s stock after purchasing an additional 123,470 shares during the period. Prudential Financial Inc.’s holdings in TTM Technologies were worth $14,447,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new stake in TTM Technologies in the 4th quarter valued at about $25,000. Quarry LP purchased a new stake in shares of TTM Technologies in the third quarter valued at approximately $34,000. Smartleaf Asset Management LLC boosted its holdings in shares of TTM Technologies by 670.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,220 shares during the period. GAMMA Investing LLC grew its stake in TTM Technologies by 27.7% in the fourth quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company’s stock worth $51,000 after purchasing an additional 443 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in TTM Technologies during the 4th quarter worth $83,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analyst Ratings Changes

TTMI has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $33.00 price target on shares of TTM Technologies in a research report on Friday, March 21st. Stifel Nicolaus initiated coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They set a “buy” rating and a $33.00 target price on the stock.

TTM Technologies Trading Down 3.5 %

Shares of NASDAQ:TTMI opened at $21.54 on Friday. The company has a market capitalization of $2.19 billion, a PE ratio of 39.89 and a beta of 1.19. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. TTM Technologies, Inc. has a 12-month low of $13.43 and a 12-month high of $30.41. The business’s fifty day simple moving average is $24.21 and its 200-day simple moving average is $22.92.

TTM Technologies (NASDAQ:TTMI) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. As a group, equities research analysts predict that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Philip Titterton sold 24,792 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total transaction of $633,683.52. Following the transaction, the chief operating officer now directly owns 157,528 shares of the company’s stock, valued at $4,026,415.68. This represents a 13.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Dale Martin Knecht sold 3,848 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.01, for a total value of $100,086.48. Following the completion of the sale, the senior vice president now directly owns 86,346 shares of the company’s stock, valued at approximately $2,245,859.46. This represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,817 shares of company stock worth $1,316,006 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

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.