Point72 Asset Management L.P. Sells 291,057 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Point72 Asset Management L.P. lowered its position in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 82.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,943 shares of the technology company's stock after selling 291,057 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.06% of TTM Technologies worth $1,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTMI. Barclays PLC boosted its stake in shares of TTM Technologies by 59.8% during the 3rd quarter. Barclays PLC now owns 407,524 shares of the technology company's stock worth $7,437,000 after acquiring an additional 152,456 shares in the last quarter. KBC Group NV boosted its stake in shares of TTM Technologies by 47.4% during the 4th quarter. KBC Group NV now owns 4,404 shares of the technology company's stock worth $109,000 after acquiring an additional 1,416 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of TTM Technologies during the 4th quarter worth about $678,000. D Orazio & Associates Inc. bought a new stake in shares of TTM Technologies during the 4th quarter worth about $1,768,000. Finally, Empowered Funds LLC boosted its stake in shares of TTM Technologies by 2.2% during the 4th quarter. Empowered Funds LLC now owns 556,986 shares of the technology company's stock worth $13,785,000 after acquiring an additional 11,776 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analyst Ratings Changes

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

TTM Technologies Stock Performance

TTM Technologies stock traded up $0.98 during trading hours on Tuesday, hitting $29.57. The stock had a trading volume of 109,994 shares, compared to its average volume of 770,402. The company has a 50-day moving average of $22.68 and a two-hundred day moving average of $23.93. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The company has a market cap of $3.01 billion, a PE ratio of 54.71 and a beta of 1.20. TTM Technologies, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $30.43.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $648.67 million during the quarter, compared to analysts' expectations of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, equities research analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies declared that its Board of Directors has approved a share buyback 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 purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at TTM Technologies

In related news, EVP Daniel J. Weber sold 20,170 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.51, for a total transaction of $595,216.70. Following the sale, the executive vice president now directly owns 74,983 shares in the company, valued at $2,212,748.33. This represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas L. Soder sold 24,972 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 173,026 shares in the company, valued at $5,190,780. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,642 shares of company stock valued at $1,651,737 in the last quarter. Corporate insiders own 1.30% of the company's stock.

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.