Convergence Investment Partners LLC Cuts Holdings in TTM Technologies, Inc. (TTMI)

Convergence Investment Partners LLC lowered its stake in TTM Technologies, Inc. (NASDAQ:TTMI) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 112,881 shares of the technology company’s stock after selling 15,383 shares during the quarter. Convergence Investment Partners LLC owned about 0.11% of TTM Technologies worth $1,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. LSV Asset Management increased its holdings in TTM Technologies by 492.0% during the second quarter. LSV Asset Management now owns 2,508,368 shares of the technology company’s stock worth $43,545,000 after buying an additional 2,084,668 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of TTM Technologies by 9.6% in the second quarter. Vanguard Group Inc. now owns 12,967,044 shares of the technology company’s stock valued at $225,108,000 after acquiring an additional 1,133,604 shares in the last quarter. Tocqueville Asset Management L.P. grew its stake in shares of TTM Technologies by 106.7% in the third quarter. Tocqueville Asset Management L.P. now owns 2,054,648 shares of the technology company’s stock valued at $31,580,000 after acquiring an additional 1,060,396 shares in the last quarter. Hood River Capital Management LLC bought a new stake in TTM Technologies during the third quarter worth about $16,278,000. Finally, Cortina Asset Management LLC bought a new stake in TTM Technologies during the third quarter worth about $13,685,000.

Shares of TTM Technologies, Inc. (NASDAQ TTMI) opened at $15.72 on Wednesday. TTM Technologies, Inc. has a twelve month low of $12.76 and a twelve month high of $19.54. The firm has a market capitalization of $1,617.85, a PE ratio of 12.61 and a beta of 1.55. The company has a quick ratio of 1.21, a current ratio of 1.65 and a debt-to-equity ratio of 1.02.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. The firm had revenue of $666.81 million during the quarter, compared to the consensus estimate of $651.67 million. TTM Technologies had a return on equity of 14.77% and a net margin of 2.78%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. analysts forecast that TTM Technologies, Inc. will post 1.08 earnings per share for the current year.

In related news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $16.07, for a total value of $48,210.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 9,000 shares of company stock valued at $139,320 in the last 90 days. 28.40% of the stock is currently owned by corporate insiders.

Several research firms have recently issued reports on TTMI. Zacks Investment Research raised TTM Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 8th. BidaskClub downgraded shares of TTM Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $17.50 target price on shares of TTM Technologies in a report on Wednesday, November 1st. ValuEngine cut TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, J P Morgan Chase & Co set a $22.00 target price on TTM Technologies and gave the stock a “buy” rating in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. TTM Technologies presently has an average rating of “Buy” and an average price target of $20.50.

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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.

Institutional Ownership by Quarter for TTM Technologies (NASDAQ:TTMI)

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