Glenmede Trust Co. NA Has $22 Million Stock Position in TTM Technologies, Inc. $TTMI

Glenmede Trust Co. NA reduced its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 28.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 225,784 shares of the technology company’s stock after selling 90,370 shares during the period. Glenmede Trust Co. NA’s holdings in TTM Technologies were worth $21,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Montchanin Asset Management LLC bought a new stake in shares of TTM Technologies in the first quarter worth $201,000. Norris Financial Group LLC bought a new position in TTM Technologies in the first quarter valued at $4,258,000. Bank of America Corp DE grew its position in TTM Technologies by 6.5% in the first quarter. Bank of America Corp DE now owns 636,152 shares of the technology company’s stock valued at $61,974,000 after purchasing an additional 38,710 shares in the last quarter. Sunbelt Securities Inc. increased its stake in TTM Technologies by 1,131.4% in the 1st quarter. Sunbelt Securities Inc. now owns 628 shares of the technology company’s stock valued at $61,000 after buying an additional 577 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in TTM Technologies by 12.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,347 shares of the technology company’s stock valued at $131,000 after buying an additional 150 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Robert P. Farrell sold 1,304 shares of TTM Technologies stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $208.92, for a total transaction of $272,431.68. Following the completion of the transaction, the insider owned 16,995 shares in the company, valued at approximately $3,550,595.40. This trade represents a 7.13% 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, EVP Daniel J. Weber sold 2,915 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $609,060.10. Following the transaction, the executive vice president directly owned 88,250 shares in the company, valued at approximately $18,438,955. This trade represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 82,043 shares of company stock worth $17,191,859 in the last three months. Insiders own 1.30% of the company’s stock.

TTM Technologies Stock Performance

Shares of TTMI stock opened at $115.44 on Friday. The company has a fifty day moving average price of $167.56 and a two-hundred day moving average price of $132.47. TTM Technologies, Inc. has a one year low of $39.20 and a one year high of $223.83. The stock has a market cap of $11.99 billion, a P/E ratio of 62.40 and a beta of 2.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.88 and a quick ratio of 1.61.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $845.98 million for the quarter, compared to analyst estimates of $789.84 million. TTM Technologies had a net margin of 6.29% and a return on equity of 13.70%. TTM Technologies’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. As a group, equities analysts predict that TTM Technologies, Inc. will post 3.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Needham & Company LLC upped their target price on TTM Technologies from $208.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. B. Riley Financial increased their price target on TTM Technologies from $182.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded TTM Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Zacks Research lowered TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, TTM Technologies presently has an average rating of “Moderate Buy” and an average target price of $212.00.

TTM Technologies Company Profile

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.