Hennessy Advisors Inc. Lowers Holdings in TTM Technologies, Inc. (TTMI)

Hennessy Advisors Inc. decreased its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,509,500 shares of the technology company’s stock after selling 102,800 shares during the period. TTM Technologies makes up about 1.3% of Hennessy Advisors Inc.’s portfolio, making the stock its 15th largest position. Hennessy Advisors Inc. owned approximately 2.47% of TTM Technologies worth $43,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in TTM Technologies during the first quarter worth $101,000. Pacad Investment Ltd. acquired a new position in TTM Technologies during the second quarter worth $133,000. State of Alaska Department of Revenue raised its holdings in TTM Technologies by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the technology company’s stock worth $150,000 after buying an additional 140 shares during the last quarter. Sei Investments Co. raised its holdings in TTM Technologies by 197.1% during the second quarter. Sei Investments Co. now owns 9,235 shares of the technology company’s stock worth $161,000 after buying an additional 6,127 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in TTM Technologies during the first quarter worth $167,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Several research analysts have weighed in on the stock. J P Morgan Chase & Co set a $22.00 price objective on shares of TTM Technologies and gave the stock a “buy” rating in a report on Wednesday, August 16th. BidaskClub downgraded shares of TTM Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Needham & Company LLC upped their price objective on shares of TTM Technologies from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, June 9th. ValuEngine downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of TTM Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. TTM Technologies has a consensus rating of “Buy” and a consensus target price of $20.13.

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TTM Technologies, Inc. (TTMI) traded down 0.68% during mid-day trading on Thursday, hitting $14.50. 245,721 shares of the stock traded hands. The firm’s 50-day moving average is $15.17 and its 200 day moving average is $16.31. The firm has a market cap of $1.48 billion, a P/E ratio of 20.28 and a beta of 1.50. TTM Technologies, Inc. has a 52-week low of $10.15 and a 52-week high of $19.54.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.04. The firm had revenue of $627.20 million during the quarter, compared to analyst estimates of $625.43 million. TTM Technologies had a return on equity of 17.05% and a net margin of 2.97%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. Equities analysts predict that TTM Technologies, Inc. will post $1.53 EPS for the current fiscal year.

In other news, Director Kenton K. Alder sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $14.29, for a total transaction of $42,870.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Daniel J. Weber sold 3,605 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $17.92, for a total value of $64,601.60. Following the transaction, the senior vice president now owns 48,270 shares of the company’s stock, valued at $864,998.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,074 shares of company stock valued at $244,010. 28.40% of the stock is currently owned by insiders.

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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