TTM Technologies Inc. (NASDAQ:TTMI), a leading manufacturer of printed circuit boards, has reported a significant transaction by President Anthony Joseph Sandeen of the AMI&I Business Unit. On May 6, 2024, Mr. Sandeen sold 23,683 shares of common stock, resulting in a total sale value of approximately $415,162.
The shares were sold at a weighted average price of $17.53, with individual transactions occurring within a price range of $17.40 to $17.71. The sale was conducted in the open market, which is typical for transactions of this nature. Following this sale, Mr. Sandeen continues to hold 28,056 shares of TTM Technologies' common stock.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. It is worth noting that insider sales can occur for a variety of reasons and may not necessarily reflect a negative outlook on the company's future by the executive.
For those interested in the specifics of the transaction, Mr. Sandeen has indicated a willingness to provide full information regarding the number of shares sold at each separate price within the reported range, upon request.
TTM Technologies has not provided any official comment on this transaction. The company's stock performance and market activities continue to be followed closely by investors in the technology and manufacturing sectors.
InvestingPro Insights
Amidst the news of insider transactions at TTM Technologies Inc. (NASDAQ:TTMI), investors are considering the company's financial health and market performance. According to InvestingPro data, TTM Technologies holds a market capitalization of approximately $1.82 billion, with recent revenue figures showing a slight quarterly growth of 4.72% in Q1 2024. However, the company has faced a decline in revenue over the last twelve months, with a decrease of 8.14%.
The stock has experienced a notable price surge, with a 17.28% return over the last week and an impressive 50.3% return over the past year, indicating robust market confidence. This performance is also reflected in the stock trading near its 52-week high, at 99% of the peak value. The current price, as of the previous close, stands at $17.51.
Investors may find InvestingPro Tips particularly useful in this context: TTM Technologies is expected to see net income growth this year, and the company holds more cash than debt on its balance sheet, which could be a sign of financial stability. Additionally, there are 11 more tips available on InvestingPro, which can provide deeper insights into the company's financials and market prospects. Interested readers can find these additional tips on InvestingPro and can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
While insider sales like Mr. Sandeen's can be interpreted in various ways, the broader financial data and market performance provide a more comprehensive picture of TTM Technologies' current standing and outlook.
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