Have TTM Technologies Insiders Been Selling Stock?

We wouldn't blame TTM Technologies, Inc. (NASDAQ:TTMI) shareholders if they were a little worried about the fact that Daniel Boehle, the Executive VP & CFO recently netted about US$881k selling shares at an average price of US$209. That sale reduced their total holding by 12% which is hardly insignificant, but far from the worst we've seen.

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TTM Technologies Insider Transactions Over The Last Year

The Executive VP and President of Aerospace & Defense (A&D) Sector, Catherine Gridley, made the biggest insider sale in the last 12 months. That single transaction was for US$2.1m worth of shares at a price of US$106 each. That means that an insider was selling shares at slightly below the current price (US$180). When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. This single sale was just 40% of Catherine Gridley's stake.

Over the last year we saw more insider selling of TTM Technologies shares, than buying. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

See our latest analysis for TTM Technologies

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Insider Ownership

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It's great to see that TTM Technologies insiders own 1.5% of the company, worth about US$287m. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Does This Data Suggest About TTM Technologies Insiders?

Insiders sold stock recently, but they haven't been buying. Zooming out, the longer term picture doesn't give us much comfort. But it is good to see that TTM Technologies is growing earnings. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. Of course, the future is what matters most. So if you are interested in TTM Technologies, you should check out this free report on analyst forecasts for the company.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.