TTM Technologies EVP Douglas Soder Sells $149,625 in Stock

Douglas L. Soder, the Executive Vice President of TTM Technologies Inc. recently made a noteworthy stock transaction. He sold 5,985 shares of the company at a price of $25 per share. This sale comes to a total of around $149,625. The sale was conducted under a pre-arranged 10b5-1 Sales Plan, which allows executives to sell shares according to a set schedule.

Despite this sale, Soder still holds 179,493 shares of TTM Technologies, indicating his continued investment in the company. TTM Technologies has shown impressive performance over the past year, with its stock value increasing by more than 70% and trading close to its 52-week high of $25.49.

Analysts remain optimistic about TTM Technologies, providing price targets that range between $25 and $29. This positive outlook reflects the company’s strong fundamentals and growth potential. Additionally, this information can be further explored through insider trading analysis.

Company Performance and Financial Results

TTM Technologies has recently reported solid financial performance for the third quarter of 2024. The company’s revenue rose to $616.5 million, compared to $572.6 million in the same quarter last year. This growth was primarily driven by strong demand in the aerospace and defense sectors, as well as in the data center computing market.

The net income for TTM Technologies also saw a significant improvement year-over-year, posting $14.3 million in profit compared to a net loss of $37.1 million for Q3 2023. Such financial results highlight the company’s resilience and ability to generate profit amid ongoing market challenges.

Strategic Investments and Future Outlook

In its pursuit of growth, TTM Technologies has made strategic investments in new facilities located in Penang, Malaysia, and Syracuse, New York. Their aerospace and defense backlog has reached a record high of $1.49 billion, with a favorable book-to-bill ratio of 1.20, indicating that the company is successfully securing new business.

Looking ahead to the fourth quarter, TTM Technologies anticipates net sales to be between $610 million and $650 million, along with non-GAAP earnings per diluted share projected at $0.44 to $0.50. However, the company is also facing some challenges, particularly within the automotive market, which continues to show weakness, and there is a concern over high customer concentration in their data center and computing segment.

Despite these challenges, TTM Technologies is focused on its strengths in aerospace and defense while also continuing to invest in innovative technologies and new facilities. These efforts are part of the company’s strategy for long-term growth and resilience in a dynamic market.

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