TTM Technologies Inc. (NASDAQ:TTMI) reported a significant stock transaction by an executive, according to the latest SEC filings. Douglas L. Soder, whose officer title is listed as "See Remarks" within the company, sold 25,000 shares of common stock on May 10, 2024.
The shares were sold at a weighted average price of $18.0105, with the sale amounting to a total of $450,262. The transactions occurred in multiple parts, with prices ranging from $18.00 to $18.06 per share. This sale was conducted under a 10b5-1 Sales Plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information.
Following the sale, Soder retained a total of 239,574 shares of TTM Technologies, indicating a continued investment in the company's future. The company, which specializes in printed circuit boards, has its headquarters in Santa Ana, California, and is incorporated in Delaware.
Investors and followers of TTM Technologies can request additional details on the transactions if needed, as the executive has agreed to provide full information regarding the number of shares sold at each separate price within the reported range.
The sale was officially signed off by Daniel J. Weber, Attorney-in-Fact, and was filed with the SEC on May 13, 2024.
InvestingPro Insights
TTM Technologies Inc. (NASDAQ:TTMI), known for its expertise in printed circuit boards, has witnessed a notable transaction from an executive, which may draw investor attention to the company's stock performance and financial health. In light of this development, here are some key metrics and InvestingPro Tips that could provide deeper insights for investors considering TTM Technologies in their portfolio.
According to real-time data from InvestingPro, TTM Technologies currently holds a market capitalization of $1.88 billion. The company's Price to Earnings (P/E) ratio stands at a high 769.17, which has adjusted to 37.99 for the last twelve months as of Q1 2024. Despite a revenue decline of -8.14% over the same period, the company managed a quarterly revenue growth of 4.72% in Q1 2024.
One of the InvestingPro Tips suggests that TTM Technologies is expected to see net income growth this year, which could be a positive signal for potential investors. However, another tip indicates that the stock may be in overbought territory based on its Relative Strength Index (RSI), which is something investors might want to consider, especially following the recent transaction by the executive.
Additionally, it's worth noting that while TTM Technologies has been not profitable over the last twelve months, analysts predict the company will turn profitable this year. The company also appears to have strong liquidity, as its liquid assets exceed short-term obligations. On the performance front, the stock has seen a high return over the last year, with a 51.69% price total return, and is currently trading near its 52-week high, at 99.68% of the peak price.
For those interested in a more comprehensive analysis, there are 11 additional InvestingPro Tips available for TTM Technologies at https://www.investing.com/pro/TTMI. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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