Two Sigma Investments LP Decreases Stock Position in TTM Technologies, Inc. (NASDAQ:TTMI)

Two Sigma Investments LP decreased its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 60.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,065 shares of the technology company's stock after selling 145,420 shares during the quarter. Two Sigma Investments LP owned 0.10% of TTM Technologies worth $2,402,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TTMI. Smartleaf Asset Management LLC lifted its stake in TTM Technologies by 670.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company's stock valued at $35,000 after acquiring an additional 1,220 shares during the period. Sterling Capital Management LLC raised its holdings in shares of TTM Technologies by 808.9% during 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 during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in TTM Technologies during the fourth quarter valued at $83,000. Meeder Asset Management Inc. purchased a new stake in TTM Technologies in the fourth quarter valued at $89,000. Finally, Venturi Wealth Management LLC purchased a new stake in TTM Technologies in the fourth quarter valued at $95,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

TTM Technologies Price Performance

Shares of TTM Technologies stock traded up $0.18 on Wednesday, hitting $32.57. The company's stock had a trading volume of 569,219 shares, compared to its average volume of 781,728. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 60.31 and a beta of 1.20. The firm has a fifty day moving average price of $23.60 and a 200-day moving average price of $24.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.71 and a current ratio of 1.99. TTM Technologies, Inc. has a 1 year low of $15.77 and a 1 year high of $33.18.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.50 earnings per share 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 business had revenue of $648.67 million during the quarter, compared to the consensus estimate of $621.44 million. During the same period in the prior year, the company posted $0.28 EPS. The business's quarterly revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that TTM Technologies, Inc. will post 1.76 earnings per share for the current fiscal year.

TTM Technologies announced that its board has initiated a stock buyback program on Friday, May 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to purchase up to 3.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, SVP Dale Martin Knecht sold 10,000 shares of TTM Technologies stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total transaction of $295,200.00. Following the transaction, the senior vice president now owns 76,346 shares in the company, valued at approximately $2,253,733.92. This trade represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel J. Weber sold 20,170 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.51, for a total value of $595,216.70. Following the completion of the sale, the executive vice president now owns 74,983 shares of the company's stock, valued at approximately $2,212,748.33. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,142 shares of company stock worth $1,934,577 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TTMI has been the subject of several analyst reports. Stifel Nicolaus assumed coverage on TTM Technologies in a report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 price objective for the company. Truist Financial reduced their price target on TTM Technologies from $38.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC upped 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. Finally, B. Riley lifted their target price on shares of TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 1st.

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.