Occudo Quantitative Strategies LP Sells 22,403 Shares of TTM Technologies, Inc. (NASDAQ:TTMI)

Occudo Quantitative Strategies LP cut its position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) by 67.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,052 shares of the technology company's stock after selling 22,403 shares during the quarter. Occudo Quantitative Strategies LP's holdings in TTM Technologies were worth $274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TTMI. USA Financial Formulas acquired a new stake in shares of TTM Technologies during the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised 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 purchasing an additional 1,220 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of TTM Technologies by 808.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company's stock valued at $79,000 after purchasing an additional 2,831 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of TTM Technologies in the fourth quarter worth $83,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of TTM Technologies in the fourth quarter worth $89,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TTMI. Needham & Company LLC increased their price objective 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 decreased their price target on shares of TTM Technologies from $38.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, May 1st. B. Riley upped their price objective on shares of TTM Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus initiated coverage on shares of TTM Technologies in a research report on Tuesday, February 11th. They issued a "buy" rating and a $33.00 target price for the company.

TTM Technologies Stock Up 0.7%

TTMI stock traded up $0.19 during mid-day trading on Thursday, hitting $29.09. The stock had a trading volume of 123,840 shares, compared to its average volume of 768,306. TTM Technologies, Inc. has a 1-year low of $15.77 and a 1-year high of $30.41. The company has a fifty day moving average of $22.29 and a 200 day moving average of $23.84. The company has a current ratio of 1.99, a quick ratio of 1.71 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 53.97 and a beta of 1.20.

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, topping analysts' consensus estimates of $0.39 by $0.11. The firm had revenue of $648.67 million for the quarter, compared to the consensus estimate of $621.44 million. TTM Technologies had a return on equity of 9.74% and a net margin of 2.30%. The firm's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, equities analysts expect 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 stock repurchase 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 buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at TTM Technologies

In related news, EVP Douglas L. Soder sold 24,972 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $30.00, for a total value of $749,160.00. Following the transaction, the executive vice president now directly owns 173,026 shares of the company's stock, valued at approximately $5,190,780. This trade represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dale Martin Knecht sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.52, for a total value of $295,200.00. Following the sale, the senior vice president now directly owns 76,346 shares of the company's stock, valued at $2,253,733.92. The trade was a 11.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,642 shares of company stock valued at $1,651,737. Insiders own 1.30% of the company's 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.