On September 8, TTM Technologies Inc rose 5.2% in regular trading, trading at $132.545/share, with turnover of $61.75 million. The stock has rebounded from recent lows as multiple positive catalysts continue to unfold.
On the executive front, CEO Edwin Roks purchased $1.1 million in stock at $111.77 per share on August 25, increasing his holding by 18%. This marked his first purchase since joining the company in September of last year. Chair Rex Geveden also bought $524,500 in stock at $104.90 per share on August 24, lifting his ownership by 5%. Smart Insider designated TTM Technologies as its stock pick of the week, citing the significance of insider buying during a period of share price weakness.
In addition, the company announced the acquisition of Epiq Solutions for approximately $1.1 billion in cash to expand its RF, software-defined radio, and space computing portfolio across defense markets. The deal is expected to be immediately accretive to adjusted EBITDA margin and accretive to non-GAAP diluted EPS by 2028. The company also reported strong Q2 results, with revenue of $1.004 billion, up 37.42% year-over-year, and adjusted EPS of $0.99, both exceeding consensus estimates.
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