Jeff Jankowsky, President of A&D C4Isr at TTM Technologies Inc. (NASDAQ:TTMI), recently sold 5,000 shares of the company's common stock. The shares were sold at a price of $25 each, amounting to a total transaction value of $125,000. This sale was conducted as part of a 10b5-1 Sales Plan. Following the transaction, Jankowsky retains ownership of 50,273 shares in the company. With analyst price targets ranging from $25 to $29, InvestingPro subscribers can access 14 additional key insights about TTM Technologies, including detailed valuation metrics and growth forecasts. The stock currently trades at a P/E ratio of 36.12, suggesting premium pricing relative to earnings.
In other recent news, TTM Technologies showcased robust financial performance in the third quarter of 2024. The printed circuit board manufacturer reported a significant increase in revenue, reaching $616.5 million, a rise from $572.6 million in the same quarter the previous year. This growth was primarily driven by high demand in the aerospace and defense sectors, which accounted for 46% of the revenue, along with the data center computing market. The company also posted a net income of $14.3 million, marking a substantial improvement from a net loss of $37.1 million in Q3 2023.
These recent developments highlight TTM Technologies' strategic growth. The company is expanding its footprint with new facilities in Penang, Malaysia, and Syracuse, New York. Furthermore, it anticipates Q4 net sales to range between $610 million and $650 million, along with non-GAAP earnings per diluted share of $0.44 to $0.50. Despite challenges in the automotive market and a high concentration of clients in the data center segment, TTM Technologies' strong performance in aerospace and defense, coupled with significant investments in new technology and facilities, indicates its strategic focus on long-term growth and market resilience.
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