Balyasny Asset Management L.P. Sells 36,498 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Balyasny Asset Management L.P. lowered its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,568 shares of the technology company's stock after selling 36,498 shares during the period. Balyasny Asset Management L.P. owned approximately 0.10% of TTM Technologies worth $2,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of TTM Technologies by 532.1% during the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock valued at $48,454,000 after acquiring an additional 1,648,017 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in TTM Technologies by 50.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock worth $37,971,000 after purchasing an additional 515,015 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of TTM Technologies by 5.1% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,312,770 shares of the technology company's stock worth $32,491,000 after acquiring an additional 63,230 shares during the last quarter. Portolan Capital Management LLC boosted its stake in shares of TTM Technologies by 22.6% during the 4th quarter. Portolan Capital Management LLC now owns 1,301,342 shares of the technology company's stock worth $32,208,000 after acquiring an additional 239,972 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of TTM Technologies by 7.8% during the 4th quarter. Northern Trust Corp now owns 1,159,576 shares of the technology company's stock worth $28,700,000 after acquiring an additional 84,137 shares during the last quarter. Institutional investors own 95.79% of the company's stock.

Insiders Place Their Bets

In other news, EVP Catherine A. Gridley sold 6,000 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $26.25, for a total value of $157,500.00. Following the sale, the executive vice president now directly owns 125,206 shares in the company, valued at $3,286,657.50. The trade was a 4.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Dale Martin Knecht sold 3,848 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.01, for a total transaction of $100,086.48. Following the completion of the sale, the senior vice president now owns 86,346 shares in the company, valued at approximately $2,245,859.46. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,978 shares of company stock worth $1,567,375 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

TTM Technologies Price Performance

Shares of TTMI traded down $0.15 during trading hours on Wednesday, reaching $29.65. 1,107,804 shares of the stock traded hands, compared to its average volume of 766,835. 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 52-week low of $15.77 and a 52-week high of $30.62. The company's 50-day moving average price is $21.55 and its two-hundred day moving average price is $23.55. The company has a market cap of $3.01 billion, a P/E ratio of 54.91 and a beta of 1.20.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.11. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The company had revenue of $648.67 million for the quarter, compared to analysts' expectations of $621.44 million. During the same quarter in the previous year, the company earned $0.28 EPS. TTM Technologies's revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current year.

TTM Technologies announced that its board has authorized a share repurchase program on Friday, May 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on TTMI. Truist Financial dropped their price target on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus began coverage on shares of TTM Technologies in a research note on Tuesday, February 11th. They set a "buy" rating and a $33.00 price target on the stock. Needham & Company LLC lifted their price target on shares of TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, B. Riley lifted their price target on shares of TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st.

About TTM Technologies

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.