Jane Street Group LLC Cuts Holdings in TTM Technologies, Inc. (NASDAQ:TTMI)

Jane Street Group LLC trimmed its holdings in shares of TTM Technologies, Inc. (NASDAQ:TTMI) by 95.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,189 shares of the technology company’s stock after selling 220,019 shares during the period. Jane Street Group LLC’s holdings in TTM Technologies were worth $277,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TTMI. Smartleaf Asset Management LLC grew its holdings in shares of TTM Technologies by 670.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,402 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,220 shares during the period. Sterling Capital Management LLC grew its holdings in shares of TTM Technologies by 808.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,181 shares of the technology company’s stock worth $79,000 after acquiring an additional 2,831 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in TTM Technologies during the 4th quarter valued at $83,000. Meeder Asset Management Inc. acquired a new stake in TTM Technologies during the 4th quarter valued at $89,000. Finally, Venturi Wealth Management LLC acquired a new stake in TTM Technologies during the 4th quarter valued at $95,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TTMI shares. Needham & Company LLC increased their target price on TTM Technologies from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Stifel Nicolaus initiated coverage on TTM Technologies in a report on Tuesday, February 11th. They set a “buy” rating and a $33.00 price objective on the stock. Truist Financial decreased their price objective on TTM Technologies from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, B. Riley raised their price objective on TTM Technologies from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 1st.

Insider Activity

In other news, EVP Douglas L. Soder sold 24,972 shares of the business’s 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 of the company’s stock, valued at $5,190,780. The trade was a 12.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tom Clapprood sold 10,000 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $29.50, for a total transaction of $295,000.00. Following the completion of the transaction, the insider now directly owns 34,037 shares of the company’s stock, valued at approximately $1,004,091.50. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,142 shares of company stock worth $1,934,577. Insiders own 1.30% of the company’s stock.

TTM Technologies Stock Performance

Shares of TTMI stock opened at $32.39 on Wednesday. TTM Technologies, Inc. has a 52 week low of $15.77 and a 52 week high of $32.44. The company has a market cap of $3.29 billion, a P/E ratio of 59.98 and a beta of 1.20. The business has a 50 day moving average of $23.60 and a two-hundred day moving average of $24.18. The company has a quick ratio of 1.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.58.

TTM Technologies (NASDAQ:TTMI) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The company had revenue of $648.67 million during 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 company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, analysts anticipate that TTM Technologies, Inc. will post 1.76 EPS for the current year.

TTM Technologies declared that its board has authorized a stock buyback program on Friday, May 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

TTM Technologies 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.