Renaissance Technologies LLC Buys New Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Renaissance Technologies LLC bought a new stake in TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 49,269 shares of the technology company's stock, valued at approximately $1,219,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTMI. Franklin Resources Inc. lifted its position in shares of TTM Technologies by 532.1% during the 4th quarter. Franklin Resources Inc. now owns 1,957,741 shares of the technology company's stock valued at $48,454,000 after acquiring an additional 1,648,017 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of TTM Technologies by 391.6% during the fourth quarter. Victory Capital Management Inc. now owns 980,509 shares of the technology company's stock valued at $24,268,000 after purchasing an additional 781,058 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of TTM Technologies by 50.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,166 shares of the technology company's stock valued at $37,971,000 after purchasing an additional 515,015 shares during the period. Norges Bank purchased a new position in TTM Technologies in the 4th quarter worth about $8,610,000. Finally, Emerald Advisers LLC raised its holdings in TTM Technologies by 42.9% during the 4th quarter. Emerald Advisers LLC now owns 1,072,133 shares of the technology company's stock worth $26,535,000 after buying an additional 321,853 shares during the period. 95.79% of the stock is currently owned by institutional investors.

TTM Technologies Stock Up 0.3 %

NASDAQ TTMI traded up $0.08 on Monday, reaching $25.11. The stock had a trading volume of 54,526 shares, compared to its average volume of 759,728. TTM Technologies, Inc. has a 1 year low of $15.77 and a 1 year high of $30.41. The business has a 50 day moving average price of $20.95 and a 200 day moving average price of $23.17. 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 company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 46.54 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TTMI. Needham & Company LLC boosted their price target on shares of TTM Technologies from $33.00 to $35.00 and gave the company a "buy" rating in a report on Thursday. B. Riley increased their price objective on TTM Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday. Truist Financial lowered their target price on TTM Technologies from $38.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday. 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 price target for the company.

Insider Activity

In other TTM Technologies news, COO Philip Titterton sold 24,792 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $25.56, for a total transaction of $633,683.52. Following the transaction, the chief operating officer now owns 157,528 shares in the company, valued at $4,026,415.68. This trade represents a 13.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Dale Martin Knecht sold 3,848 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.01, for a total transaction of $100,086.48. Following the sale, the senior vice president now directly owns 86,346 shares of the company's stock, valued at approximately $2,245,859.46. This represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,628 shares of company stock valued at $1,311,482. 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.