Cubist Systematic Strategies LLC Buys 430,453 Shares of TTM Technologies, Inc. $TTMI

Key Points

• Cubist Systematic Strategies LLC increased its stake in TTM Technologies by an astounding 1,070.1% during Q1, owning approximately 0.46% of the company's shares valued at $9.65 million.
• TTM Technologies reported an EPS of $0.58 in its latest quarter, exceeding analysts' expectations of $0.52, with revenues growing 20.7% year-over-year.
• The company has approved a $100 million stock repurchase program, indicating that its leadership believes the stock is undervalued.

Cubist Systematic Strategies LLC lifted its stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 1,070.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,679 shares of the technology company's stock after purchasing an additional 430,453 shares during the period. Cubist Systematic Strategies LLC owned 0.46% of TTM Technologies worth $9,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TTMI. Quarry LP increased its stake in shares of TTM Technologies by 249.9% in the 1st quarter. Quarry LP now owns 2,110 shares of the technology company's stock worth $43,000 after purchasing an additional 1,507 shares in the last quarter. USA Financial Formulas increased its stake in TTM Technologies by 119.1% in the 1st quarter. USA Financial Formulas now owns 2,237 shares of the technology company's stock worth $46,000 after buying an additional 1,216 shares in the last quarter. CWM LLC increased its stake in TTM Technologies by 14.4% in the 1st quarter. CWM LLC now owns 4,501 shares of the technology company's stock worth $92,000 after buying an additional 567 shares in the last quarter. State of Wyoming increased its stake in TTM Technologies by 103.3% in the 4th quarter. State of Wyoming now owns 5,708 shares of the technology company's stock worth $141,000 after buying an additional 2,900 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in TTM Technologies by 227.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,295 shares of the technology company's stock worth $150,000 after buying an additional 5,064 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

TTM Technologies Trading Up 3.5%

Shares of NASDAQ:TTMI traded up $1.63 during trading on Friday, reaching $47.70. The company's stock had a trading volume of 2,166,742 shares, compared to its average volume of 1,911,880. The company has a current ratio of 2.03, a quick ratio of 1.72 and a debt-to-equity ratio of 0.56. TTM Technologies, Inc. has a 12 month low of $15.77 and a 12 month high of $51.15. The firm's 50 day simple moving average is $44.43 and its two-hundred day simple moving average is $32.30. The stock has a market capitalization of $4.93 billion, a PE ratio of 53.00 and a beta of 1.57.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.06. TTM Technologies had a net margin of 3.52% and a return on equity of 11.80%. The firm had revenue of $730.62 million during the quarter, compared to the consensus estimate of $668.42 million. During the same quarter last year, the firm earned $0.39 EPS. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. TTM Technologies has set its Q3 2025 guidance at 0.570-0.630 EPS. On average, research analysts predict that TTM Technologies, Inc. will post 1.76 EPS for the current fiscal year.

TTM Technologies announced that its board has authorized a share buyback 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 purchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at TTM Technologies

In related news, COO Philip Titterton sold 23,486 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $36.39, for a total value of $854,655.54. Following the completion of the transaction, the chief operating officer owned 123,338 shares of the company's stock, valued at approximately $4,488,269.82. This trade represents a 16.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wajid Ali acquired 5,000 shares of TTM Technologies stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $41.75 per share, for a total transaction of $208,750.00. Following the completion of the transaction, the director directly owned 19,024 shares in the company, valued at $794,252. This trade represents a 35.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 108,421 shares of company stock worth $4,398,560 in the last quarter. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $56.00 price target on shares of TTM Technologies in a research note on Friday, August 15th. Truist Financial increased their price target on TTM Technologies from $41.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. B. Riley increased their price objective on shares of TTM Technologies from $36.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Stifel Nicolaus increased their price objective on shares of TTM Technologies from $40.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Wall Street Zen downgraded shares of TTM Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday. Four analysts have rated the stock with a Buy rating, According to MarketBeat, TTM Technologies currently has a consensus rating of "Buy" and a consensus target price of $52.25.

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.