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

Douglas L. Soder, who serves as the Executive Vice President and President of TTM Technologies Inc., has recently made a sale of part of his holdings in the company. This transaction has garnered attention given the company’s strong stock performance, which has increased by over 70% in the past year. Currently, the stock is trading close to its 52-week high of $25.49 according to data from InvestingPro.

As per a recent filing with the Securities and Exchange Commission (SEC), Soder sold 5,985 shares of TTM Technologies' common stock. The shares were sold at a price of $25 each, leading to a total sale amount of approximately $149,625. It’s important to note that this sale was conducted under a pre-arranged 10b5-1 Sales Plan, a strategy that allows executives to plan trades in advance to avoid any accusations of insider trading. After this sale, Soder still retains a significant holding of 179,493 shares in the company.

Industry analysts are generally optimistic about TTM Technologies, indicating a strong bullish outlook with price targets varying between $25 to $29. This confidence reflects the company’s robust performance and future potential in the market.

Recent Financial Performance

In related news, TTM Technologies has reported impressive financial results for the third quarter of 2024. The company achieved a revenue of $616.5 million, which marks an increase from $572.6 million in the same quarter the previous year. This growth has been attributed to high demand in sectors such as aerospace, defense, and data center computing.

Moreover, the financial stability of TTM Technologies is evident from its year-over-year improvement in net income, which stood at $14.3 million compared to a net loss of $37.1 million reported in Q3 2023. These figures signal a positive turnaround for the company.

Strategic Developments and Future Outlook

Aside from this financial growth, TTM Technologies has also been making strategic investments. These investments include establishing new facilities in Penang, Malaysia, and Syracuse, New York, which are intended to enhance their operational capabilities. The company has experienced a remarkable backlog in the aerospace and defense sectors, reaching a record of $1.49 billion, along with a book-to-bill ratio of 1.20.

Looking ahead, TTM Technologies expects its net sales for the fourth quarter to fall between $610 million and $650 million, with projected non-GAAP earnings per diluted share estimated at $0.44 to $0.50. These projections indicate a positive outlook moving forward.

However, it is important to mention that TTM Technologies also faces challenges, especially in the automotive market which continues to show weakness. Additionally, there is a high customer concentration within the data center and computing segment, which could pose risks for the company.

Despite these hurdles, TTM Technologies appears to be on a path of strong performance within aerospace and defense, and its significant investments in new technology and facilities demonstrate a strategic focus on long-term growth and market resilience.

TTM, Technologies, stock