TTM Technologies, Inc. (NASDAQ:TTMI) shareholders have witnessed a decrease in enthusiasm from smart money in recent months.
In the financial world, there are plenty of indicators shareholders can use to watch publicly traded companies. Some of the most under-the-radar are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite investment managers can trounce their index-focused peers by a healthy margin (see just how much).
Just as key, optimistic insider trading sentiment is another way to break down the world of equities. There are many motivations for an executive to drop shares of his or her company, but only one, very simple reason why they would buy. Plenty of empirical studies have demonstrated the valuable potential of this strategy if investors know what to do (learn more here).
Consequently, we’re going to take a peek at the key action regarding TTM Technologies, Inc. (NASDAQ:TTMI).
What does the smart money think about TTM Technologies, Inc. (NASDAQ:TTMI)?
At the end of the fourth quarter, a total of 8 of the hedge funds we track were long in this stock, a change of 0% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their stakes substantially.
Of the funds we track, Royce & Associates, managed by Chuck Royce, holds the most valuable position in TTM Technologies, Inc. (NASDAQ:TTMI). Royce & Associates has a $37.7 million position in the stock, comprising 0.1% of its 13F portfolio. The second largest stake is held by David Dreman of Dreman Value Management, with a $6.2 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Some other peers that are bullish include Ken Griffin’s Citadel Investment Group, Israel Englander’s Millennium Management and Brian Taylor’s Pine River Capital Management.
Since TTM Technologies, Inc. (NASDAQ:TTMI) has experienced falling interest from hedge fund managers, it’s safe to say that there is a sect of hedge funds that elected to cut their positions entirely at the end of the year. Interestingly, John Hurley’s Cavalry Asset Management cut the largest position of the 450+ funds we watch, valued at about $8.7 million in stock.. Israel Englander’s fund, Millennium Management, also sold off its stock, about $6.6 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
How have insiders been trading TTM Technologies, Inc. (NASDAQ:TTMI)?
Insider purchases made by high-level executives is most useful when the company in question has seen transactions within the past 180 days. Over the last six-month time frame, TTM Technologies, Inc. (NASDAQ:TTMI) has seen zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).
Let’s also review 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 the members of the printed circuit boards industry and their market caps resemble TTMI’s market cap.