Why Is TTM TECHNOLOGIES INC (TTMI) Stock Up Today?

TTMI stock rose 8.37% to $121.70 in early trading on Thursday. The move followed a combination of recent insider activity, a shift in credit ratings, and broader market volatility. TTM Technologies' CEO Edwin Roks purchased 10,000 shares for $1.1 million, while S&P Global revised the company's credit outlook to stable following a recent acquisition. These developments occurred amid a broader market environment where the Nasdaq 100 declined due to rising inflation concerns.

What Happened

TTM Technologies CEO Edwin Roks increased his stake in the company by 18% through open-market purchases at $111.77 per share. His total position now stands at 64,814 shares valued at $7.28 million. This move came as the company prepares for a costly acquisition, a development that prompted S&P to cut its credit outlook to stable. Meanwhile, the CFO sold nearly 6,000 shares, reflecting a mixed signal from insiders. The stock's recent performance has been volatile, with a 155% return over the past year and a current price of $121.70. The stock also printed a fresh 52-week high on August 27.

What The Data Shows

TTMI has a market cap of $11.3 billion and trades at a P/E ratio of 50.6, reflecting strong revenue growth of 27.6% in the trailing twelve months. The stock has traded between $42.69 and $223.83 over the past year. Recent insider activity includes two purchases totaling $1.6 million and 20 sales totaling $20.9 million. The stock's beta of 2.16 indicates it is more volatile than the broader market. Options activity has been skewed toward puts, with a notable $270,000 put premium recorded in the last 36 hours.

What To Watch

TTM Technologies is not scheduled to report earnings in the near term. Investors should monitor the breadth of coverage and insider activity for further signals.