TTM Technologies EVP Douglas Soder Completes Stock Sale of $149,625

Douglas L. Soder, who is the Executive Vice President and President of TTM Technologies Inc., has recently sold a portion of his stock holdings in the company. This move comes as the stock price of TTM Technologies has experienced significant growth, increasing by over 70% in the past year and trading close to its 52-week high of $25.49. According to a recent filing with the Securities and Exchange Commission (SEC), Soder sold a total of 5,985 shares of TTM Technologies' common stock at a price of $25 per share, resulting in a total sale amount of roughly $149,625. This stock sale was completed under a pre-arranged 10b5-1 Sales Plan, which allows executives to set up a predetermined schedule for selling shares. After this transaction, Soder retains 179,493 shares in TTM Technologies.

Analysts are generally optimistic about TTM Technologies' future, with price targets for the stock ranging from $25 to $29. This positive outlook is based on the company's strong performance and its strategic moves in the market. For those interested in a detailed analysis of insider trading and market trends, various resources are available for a deeper understanding of these activities.

TTM Technologies Reports Strong Financial Performance

In addition to the news about Soder's stock sale, TTM Technologies has reported impressive financial results for the third quarter of 2024. The company achieved a revenue of $616.5 million, up from $572.6 million in the same quarter last year. This growth has been supported by increasing demand in the aerospace and defense sectors, as well as in data center computing. Notably, TTM Technologies also reported a significant improvement in net income, with a figure of $14.3 million compared to a net loss of $37.1 million for the same quarter in 2023.

Investment and Strategic Focus

TTM Technologies is also making strategic investments, including new facilities located in Penang, Malaysia, and Syracuse, New York. The company's backlog in the aerospace and defense sector has reached a record $1.49 billion, which signifies a strong pipeline of work, supported by a favorable book-to-bill ratio of 1.20. For the upcoming fourth quarter, TTM Technologies anticipates net sales between $610 million and $650 million, along with projected non-GAAP earnings per diluted share in the range of $0.44 to $0.50.

Challenges and Resilience

Despite these promising developments, TTM Technologies is not without its challenges. The automotive market continues to show weakness, and the company faces high customer concentration in the data center and computing segments. Nonetheless, TTM Technologies remains solid in its commitment to the aerospace and defense sectors and continues to invest in new technologies and facilities. These efforts reflect the company's strategic aim for long-term growth and resilience in the face of market fluctuations.

TTM, stock, sale