On September 4, TTM Technologies Inc rose 5.25% in regular trading, trading at $120.465/share, with turnover of $15.66 million. The stock had pulled back significantly from its post-earnings high near $147 in early August.
The rebound was driven by notable insider purchases that lifted sentiment. CEO Edwin Roks acquired $1.1 million in stock at $111.77 per share on August 25, increasing his holdings by 18%. Chair Rex Geveden purchased $524,500 in stock at $104.90 per share on August 24, lifting his ownership by 5%. Both transactions were their first share purchases at the company. Smart Insider named TTM Technologies its stock pick of the week, highlighting the significance of these insider buys during a period of share price weakness.
Separately, the company announced on August 17 a roughly $1.1 billion all-cash acquisition of Epiq Design Solutions 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. In Q2, TTM posted revenue of $1.004 billion, up 37.42% year-over-year, with adjusted EPS of $0.99, both exceeding consensus estimates.
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