Renaissance Technologies LLC Buys Shares of 370,869 TTM Technologies, Inc. $TTMI

Renaissance Technologies LLC purchased a new stake in TTM Technologies, Inc. (NASDAQ:TTMI) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 370,869 shares of the technology company’s stock, valued at approximately $36,130,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new position in TTM Technologies during the fourth quarter valued at approximately $30,000. Truvestments Capital LLC bought a new position in TTM Technologies in the fourth quarter worth approximately $30,000. Rakuten Securities Inc. purchased a new stake in TTM Technologies during the fourth quarter worth $32,000. Parallel Advisors LLC lifted its holdings in TTM Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 327 shares of the technology company’s stock worth $32,000 after buying an additional 87 shares during the period. Finally, Danske Bank A S bought a new stake in TTM Technologies during the 4th quarter valued at $34,000. 95.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TTMI has been the topic of a number of analyst reports. Needham & Company LLC lifted their price target on TTM Technologies from $208.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Truist Financial upped their price objective on TTM Technologies from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Stifel Nicolaus raised their price objective on TTM Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen lowered TTM Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, B. Riley Financial boosted their target price on shares of TTM Technologies from $182.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

TTM Technologies Price Performance

Shares of TTMI opened at $108.69 on Wednesday. The company has a 50 day moving average of $171.58 and a two-hundred day moving average of $132.05. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 0.50. TTM Technologies, Inc. has a twelve month low of $39.20 and a twelve month high of $223.83. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 58.75 and a beta of 2.10.

TTM Technologies (NASDAQ:TTMI) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. TTM Technologies had a return on equity of 13.70% and a net margin of 6.29%.The business had revenue of $845.98 million for the quarter, compared to the consensus estimate of $789.84 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, analysts predict that TTM Technologies, Inc. will post 3.66 earnings per share for the current fiscal year.

Insider Transactions at TTM Technologies

In related news, EVP Shawn A. Powers sold 3,367 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total transaction of $703,500.98. Following the transaction, the executive vice president directly owned 120,801 shares in the company, valued at $25,240,160.94. The trade was a 2.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel J. Weber sold 2,915 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $208.94, for a total value of $609,060.10. Following the transaction, the executive vice president directly owned 88,250 shares in the company, valued at $18,438,955. This represents a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 82,043 shares of company stock worth $17,191,859. 1.30% of the stock is currently owned by corporate insiders.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company’s product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.