D. E. Shaw & Co. Inc. Lowers Stock Position in TTM Technologies, Inc. (NASDAQ:TTMI)

D. E. Shaw & Co. Inc. lessened its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,602,492 shares of the technology company's stock after selling 299,674 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 1.57% of TTM Technologies worth $39,662,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. USA Financial Formulas bought a new stake in TTM Technologies in the fourth quarter worth $25,000. Smartleaf Asset Management LLC raised its position in shares of TTM Technologies by 670.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after buying an additional 1,220 shares during the last quarter. GAMMA Investing LLC raised its position in shares of TTM Technologies by 27.7% during the fourth quarter. GAMMA Investing LLC now owns 2,041 shares of the technology company's stock valued at $51,000 after buying an additional 443 shares during the last quarter. Sterling Capital Management LLC raised its position in TTM Technologies by 808.9% in the fourth 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 in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in TTM Technologies in the fourth quarter worth about $83,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity

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 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 represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Catherine A. Gridley sold 6,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $26.25, for a total transaction of $157,500.00. Following the transaction, the executive vice president now owns 125,206 shares of the company's stock, valued at approximately $3,286,657.50. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,978 shares of company stock worth $1,567,375. 1.30% of the stock is currently owned by corporate insiders.

TTM Technologies Trading Down 0.5%

TTMI traded down $0.15 during mid-day trading on Wednesday, hitting $29.65. The stock had a trading volume of 1,107,804 shares, compared to its average volume of 766,835. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $30.62. 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 stock's fifty day simple moving average is $21.41 and its 200-day simple moving average is $23.51. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 54.91 and a beta of 1.20.

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

TTM Technologies declared that its Board of Directors has initiated a stock buyback program on Friday, May 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 3.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

TTM Technologies Company 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.