TTM Technologies, Inc. (NASDAQ:TTMI) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 86.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,226 shares of the technology company's stock after selling 260,687 shares during the quarter. Cubist Systematic Strategies LLC's holdings in TTM Technologies were worth $996,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TTMI. Franklin Resources Inc. raised its holdings in TTM Technologies by 532.1% in the fourth quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock worth $48,454,000 after purchasing an additional 1,648,017 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of TTM Technologies by 391.6% during the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock valued at $24,268,000 after acquiring an additional 781,058 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of TTM Technologies during the fourth quarter valued at about $19,040,000. Massachusetts Financial Services Co. MA increased its holdings in shares of TTM Technologies by 50.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after acquiring an additional 515,015 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of TTM Technologies during the fourth quarter valued at about $8,610,000. 95.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Dale Martin Knecht sold 3,848 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.01, for a total transaction of $100,086.48. Following the transaction, the senior vice president now owns 86,346 shares in the company, valued at $2,245,859.46. This trade represents a 4.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Douglas L. Soder sold 24,972 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $30.00, for a total value of $749,160.00. Following the transaction, the executive vice president now owns 173,026 shares in the company, valued at $5,190,780. This trade represents a 12.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,490 shares of company stock worth $2,146,923. Corporate insiders own 1.30% of the company's stock.

TTM Technologies Stock Performance

NASDAQ TTMI traded up $0.19 during trading hours on Tuesday, reaching $29.61. The stock had a trading volume of 35,018 shares, compared to its average volume of 758,036. The stock has a fifty day moving average of $21.99 and a 200 day moving average of $23.77. The stock has a market cap of $3.01 billion, a P/E ratio of 54.83 and a beta of 1.20. TTM Technologies, Inc. has a 52-week low of $15.77 and a 52-week high of $30.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99.

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

TTM Technologies declared that its board has approved a stock buyback plan on Friday, May 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. B. Riley upped their price objective on shares of TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Truist Financial cut their price objective on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus assumed coverage on shares of TTM Technologies in a report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price objective on the stock. Finally, Needham & Company LLC upped their price objective on shares of TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a report 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.