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On February 28, Steven Spoto, an officer at TTM Technologies Inc. (NASDAQ:TTMI), sold 500 shares of the company’s common stock. The shares were sold at a price of $24.32 each, amounting to a total transaction value of $12,160. Following this sale, Spoto holds 3,484 shares directly. The transaction was conducted as an open market sale, as noted in the company’s recent SEC filing.The sale comes as TTM Technologies, with a market capitalization of $2.25 billion, has shown strong performance with a 52% return over the past year. InvestingPro analysis indicates the stock is trading above its Fair Value, with a P/E ratio of 40 and healthy liquidity shown by a current ratio of 1.99. InvestingPro subscribers have access to 11 additional key insights about TTMI, including detailed valuation metrics and growth forecasts.
In other recent news, TTM Technologies reported impressive fourth-quarter earnings, with adjusted earnings per share of $0.60, surpassing the analyst consensus of $0.43. The company also exceeded revenue expectations, posting $651 million compared to the estimated $630.6 million, marking a 14.4% increase from the previous year. This strong performance was largely driven by demand in the Aerospace and Defense, Data Center Computing, and Networking sectors, with the latter two benefiting from generative AI applications. Truist Securities raised its price target for TTM Technologies to $38, maintaining a Buy rating, citing the company’s effective execution and positive first-quarter guidance. Needham also increased its price target to $33, emphasizing the robust performance in the Aerospace and Defense business and improvements in the Commercial segment. Stifel initiated coverage with a Buy rating and a $33 price target, highlighting TTM Technologies’ successful revenue diversification and strategic acquisitions. The company’s new manufacturing site in Malaysia is expected to be a long-term positive catalyst. These developments underscore a favorable outlook for TTM Technologies based on its strategic positioning and market expansion opportunities.
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