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

Cubist Systematic Strategies LLC reduced its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 86.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 40,226 shares of the technology company's stock after selling 260,687 shares during the period. Cubist Systematic Strategies LLC's holdings in TTM Technologies were worth $996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TTMI. Quadrant Capital Group LLC raised its stake in TTM Technologies by 8.5% during the 4th quarter. Quadrant Capital Group LLC now owns 5,620 shares of the technology company's stock valued at $139,000 after acquiring an additional 442 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in TTM Technologies by 3.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,797 shares of the technology company's stock valued at $490,000 after acquiring an additional 602 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in TTM Technologies by 8.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 11,652 shares of the technology company's stock valued at $288,000 after acquiring an additional 940 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in TTM Technologies by 6.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the technology company's stock valued at $423,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in TTM Technologies by 1.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,822 shares of the technology company's stock valued at $1,542,000 after acquiring an additional 1,002 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

TTM Technologies Stock Performance

NASDAQ TTMI traded up $0.27 on Friday, hitting $29.37. 839,347 shares of the company's stock were exchanged, compared to its average volume of 769,792. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. The firm's 50-day moving average price is $21.84 and its two-hundred day moving average price is $23.68. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $30.41. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 54.39 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 (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. 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 firm posted $0.28 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that TTM Technologies, Inc. will post 1.76 EPS for the current year.

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

Insiders Place Their Bets

In related news, SVP Dale Martin Knecht sold 3,848 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.01, for a total value of $100,086.48. Following the sale, the senior vice president now owns 86,346 shares in the company, valued at $2,245,859.46. This represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Douglas L. Soder sold 24,972 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the completion of the sale, the executive vice president now owns 173,026 shares in the company, valued at approximately $5,190,780. This 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 74,950 shares of company stock worth $2,159,035. Company insiders own 1.30% of the company's stock.

TTM Technologies Profile

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.