Centiva Capital LP Sells 26,803 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Centiva Capital LP trimmed its stake in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 61.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,906 shares of the technology company's stock after selling 26,803 shares during the quarter. Centiva Capital LP's holdings in TTM Technologies were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TTMI. USA Financial Formulas acquired a new position in shares of TTM Technologies in the 4th quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its position in TTM Technologies by 670.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock worth $35,000 after purchasing an additional 1,220 shares during the last quarter. GAMMA Investing LLC raised its position in TTM Technologies by 27.7% in the 4th quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company's stock worth $51,000 after purchasing an additional 443 shares during the last quarter. Sterling Capital Management LLC raised its position in TTM Technologies by 808.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock worth $79,000 after purchasing an additional 2,831 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in TTM Technologies in the 4th quarter worth approximately $83,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

TTM Technologies Trading Down 0.5%

Shares of TTMI stock traded down $0.15 on Wednesday, hitting $29.65. The stock had a trading volume of 1,107,804 shares, compared to its average volume of 766,835. The firm has a market cap of $3.01 billion, a P/E ratio of 54.91 and a beta of 1.20. 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 twelve month low of $15.77 and a twelve month high of $30.62. The company has a fifty day moving average price of $21.41 and a two-hundred day moving average price of $23.51.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The firm had revenue of $648.67 million during the quarter, compared to analyst estimates of $621.44 million. TTM Technologies had a net margin of 2.30% and a return on equity of 9.74%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. As a group, analysts forecast that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies declared that its Board of Directors has initiated a share repurchase plan on Friday, May 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at TTM Technologies

In related news, EVP Daniel J. Weber sold 20,170 shares of TTM Technologies stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the transaction, the executive vice president now directly owns 74,983 shares of the company's stock, valued at $2,212,748.33. This trade represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Dale Martin Knecht sold 3,848 shares of TTM Technologies stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.01, for a total transaction of $100,086.48. Following the completion of the transaction, the senior vice president now directly owns 86,346 shares in the company, valued at $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 sold a total of 55,978 shares of company stock worth $1,567,375 in the last three months. Insiders own 1.30% of the company's stock.

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.