Squarepoint Ops LLC Sells 54,601 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Squarepoint Ops LLC trimmed its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 80.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,900 shares of the technology company's stock after selling 54,601 shares during the period. Squarepoint Ops LLC's holdings in TTM Technologies were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming grew its stake in shares of TTM Technologies by 103.3% in the fourth quarter. State of Wyoming now owns 5,708 shares of the technology company's stock worth $141,000 after acquiring an additional 2,900 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of TTM Technologies by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 30,448 shares of the technology company's stock worth $754,000 after acquiring an additional 9,366 shares during the last quarter. Millennium Management LLC grew its stake in shares of TTM Technologies by 38.9% in the fourth quarter. Millennium Management LLC now owns 520,666 shares of the technology company's stock worth $12,886,000 after acquiring an additional 145,917 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of TTM Technologies by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,455 shares of the technology company's stock worth $1,422,000 after acquiring an additional 2,196 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of TTM Technologies in the fourth quarter worth $539,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

TTM Technologies Stock Performance

Shares of TTM Technologies stock traded up $0.49 during trading on Tuesday, hitting $36.19. 1,577,826 shares of the company's stock traded hands, compared to its average volume of 805,062. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.71. TTM Technologies, Inc. has a 1 year low of $15.77 and a 1 year high of $36.26. The stock has a market capitalization of $3.68 billion, a P/E ratio of 67.02 and a beta of 1.37. The business has a 50-day simple moving average of $24.96 and a 200-day simple moving average of $24.54.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating 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 period last year, the firm posted $0.28 earnings per share. TTM Technologies's revenue was up 13.8% compared to the same quarter last year. As a group, analysts forecast that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies declared that its board has approved a stock repurchase program on Friday, May 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at TTM Technologies

In other TTM Technologies news, insider Tom Clapprood sold 10,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $29.50, for a total value of $295,000.00. Following the transaction, the insider now owns 34,037 shares of the company's stock, valued at approximately $1,004,091.50. This represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dale Martin Knecht sold 7,662 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $34.16, for a total value of $261,733.92. Following the completion of the transaction, the senior vice president now directly owns 67,544 shares in the company, valued at approximately $2,307,303.04. This represents a 10.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,944 shares of company stock valued at $2,235,071. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TTMI has been the topic of a number of recent research reports. B. Riley increased their target price on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Needham & Company LLC increased their target price on TTM Technologies from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Truist Financial increased their price objective on TTM Technologies from $36.00 to $41.00 and gave the company a "buy" rating in a research report on Monday. Finally, Stifel Nicolaus began coverage on TTM Technologies in a research report on Tuesday, February 11th. They set a "buy" rating and a $33.00 price objective on the 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.