In a latest transaction, Douglas L. Soder, the Govt Vice President and President of TTM Applied sciences Inc. (NASDAQ:), offered 19,015 shares of the corporate’s widespread inventory. The shares had been offered on December 2, 2024, at a weighted common value of $25.00 per share, leading to a complete transaction worth of $475,375. The sale comes as TTMI trades close to its 52-week excessive of $25.49, having delivered spectacular returns of 66% over the previous 12 months. Based on InvestingPro evaluation, the inventory is at the moment buying and selling above its calculated Truthful Worth. This sale was carried out underneath a 10b5-1 Gross sales Plan, which permits executives to promote a predetermined variety of shares at set occasions or circumstances. Following this transaction, Soder now instantly owns 185,478 shares of TTM Applied sciences. The corporate, with a market capitalization of $2.47 billion, at the moment trades at a P/E ratio of 36.1. InvestingPro subscribers have entry to 14 further key insights and a complete Professional Analysis Report, providing deeper evaluation of TTMI’s valuation and progress prospects.
In different latest information, TTM Applied sciences has reported strong monetary outcomes for the third quarter of 2024. The corporate’s income climbed to $616.5 million, a big rise from the earlier 12 months’s $572.6 million, primarily because of strong demand within the aerospace and protection sectors and the information middle computing market. As well as, TTM Applied sciences noticed a substantial enchancment in internet revenue, registering $14.3 million versus a internet lack of $37.1 million in Q3 2023.
TTM Applied sciences has additionally been making strategic investments, which embrace new services in Penang, Malaysia, and Syracuse, New York. For the fourth quarter, the corporate anticipates internet gross sales to vary from $610 million to $650 million and non-GAAP earnings per diluted share between $0.44 and $0.50. Regardless of some challenges within the automotive market and excessive buyer focus within the information middle section, these latest developments spotlight TTM Applied sciences’ strategic concentrate on long-term progress and market resilience.
The aerospace and protection backlog reached a file $1.49 billion, demonstrating robust progress in these markets. Nonetheless, TTM Applied sciences acknowledged the issue of constructing forecasts past the following two quarters because of market uncertainties. Analysts from numerous corporations have taken be aware of those developments, offering their assessments and projections for the corporate’s future efficiency.
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