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Point72 Asset Management L.P. Acquires New Stake in TTM Technologies, Inc. (NASDAQ:TTMI)

TTM Technologies logo with Computer and Technology background

Point72 Asset Management L.P. purchased a new position in shares of TTM Technologies, Inc. (NASDAQ:TTMI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 355,000 shares of the technology company's stock, valued at approximately $6,479,000. Point72 Asset Management L.P. owned about 0.35% of TTM Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in TTM Technologies by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,598 shares of the technology company's stock worth $29,000 after buying an additional 642 shares during the last quarter. CWM LLC boosted its holdings in TTM Technologies by 202.6% in the second quarter. CWM LLC now owns 1,858 shares of the technology company's stock worth $36,000 after purchasing an additional 1,244 shares during the period. Covestor Ltd increased its stake in TTM Technologies by 3,220.3% during the third quarter. Covestor Ltd now owns 1,959 shares of the technology company's stock valued at $36,000 after purchasing an additional 1,900 shares during the last quarter. Innealta Capital LLC bought a new stake in TTM Technologies during the second quarter valued at $64,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of TTM Technologies during the third quarter worth $143,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price target (up from $26.00) on shares of TTM Technologies in a report on Monday.

Read Our Latest Stock Analysis on TTMI

TTM Technologies Stock Performance

Shares of NASDAQ TTMI traded up $0.15 during mid-day trading on Monday, hitting $24.78. The company had a trading volume of 215,430 shares, compared to its average volume of 745,312. TTM Technologies, Inc. has a 12 month low of $13.43 and a 12 month high of $25.49. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 37.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.00 and a quick ratio of 1.70. The firm's 50 day simple moving average is $21.76 and its two-hundred day simple moving average is $20.08.

Insiders Place Their Bets

In other TTM Technologies news, EVP Douglas L. Soder sold 19,015 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $25.00, for a total transaction of $475,375.00. Following the completion of the transaction, the executive vice president now owns 185,478 shares in the company, valued at approximately $4,636,950. The trade was a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Catherine A. Gridley sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $25.15, for a total value of $125,750.00. Following the completion of the transaction, the executive vice president now directly owns 115,296 shares of the company's stock, valued at approximately $2,899,694.40. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,044 shares of company stock valued at $1,163,803 over the last three months. Company insiders own 1.70% of the company's stock.

TTM Technologies Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for TTM Technologies (NASDAQ:TTMI)

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