TTM Technologies, Inc. (NASDAQ:TTMI) was in 14 hedge funds’ portfolio at the end of the first quarter of 2013. TTMI shareholders have witnessed an increase in support from the world’s most elite money managers of late. There were 10 hedge funds in our database with TTMI holdings at the end of the previous quarter.
At the moment, there are many indicators shareholders can use to track the equity markets. A couple of the most underrated are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top hedge fund managers can beat the broader indices by a solid margin (see just how much).
Equally as integral, positive insider trading sentiment is another way to break down the world of equities. As the old adage goes: there are a variety of stimuli for an upper level exec to sell shares of his or her company, but only one, very obvious reason why they would behave bullishly. Several empirical studies have demonstrated the impressive potential of this strategy if you know where to look (learn more here).
Consequently, let’s take a gander at the latest action encompassing TTM Technologies, Inc. (NASDAQ:TTMI).
How have hedgies been trading TTM Technologies, Inc. (NASDAQ:TTMI)?
Heading into Q2, a total of 14 of the hedge funds we track held long positions in this stock, a change of 40% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes significantly.
Of the funds we track, Chuck Royce’s Royce & Associates had the largest position in TTM Technologies, Inc. (NASDAQ:TTMI), worth close to $32.5 million, comprising 0.1% of its total 13F portfolio. On Royce & Associates’s heels is Ken Griffin of Citadel Investment Group, with a $6.5 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include David Dreman’s Dreman Value Management, Glenn Russell Dubin’s Highbridge Capital Management and Jim Simons’s Renaissance Technologies.
Consequently, key money managers were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, assembled the most outsized position in TTM Technologies, Inc. (NASDAQ:TTMI). Renaissance Technologies had 2.3 million invested in the company at the end of the quarter. David Costen Haley’s HBK Investments also initiated a $0.4 million position during the quarter. The following funds were also among the new TTMI investors: Ken Gray and Steve Walsh’s Bryn Mawr Capital, Mike Vranos’s Ellington, and Paul Tudor Jones’s Tudor Investment Corp.
How have insiders been trading TTM Technologies, Inc. (NASDAQ:TTMI)?
Insider buying is best served when the company in focus has seen transactions within the past six months. Over the latest six-month time period, TTM Technologies, Inc. (NASDAQ:TTMI) has seen zero unique insiders buying, and 5 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to TTM Technologies, Inc. (NASDAQ:TTMI). These stocks are Raven Industries, Inc. (NASDAQ:RAVN), Multi-Fineline Electronix, Inc. (NASDAQ:MFLX), Benchmark Electronics, Inc. (NYSE:BHE), Plexus Corp. (NASDAQ:PLXS), and Park Electrochemical Corp. (NYSE:PKE). This group of stocks are in the printed circuit boards industry and their market caps match TTMI’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|Raven Industries, Inc. (NASDAQ:RAVN)||7||0||0|
|Multi-Fineline Electronix, Inc. (NASDAQ:MFLX)||8||0||0|
|Benchmark Electronics, Inc. (NYSE:BHE)||15||0||5|
|Plexus Corp. (NASDAQ:PLXS)||16||0||3|
|Park Electrochemical Corp. (NYSE:PKE)||6||1||0|
With the results exhibited by Insider Monkey’s research, everyday investors must always monitor hedge fund and insider trading activity, and TTM Technologies, Inc. (NASDAQ:TTMI) is no exception.