TTM Technologies Insider Sales Surge in Mid‑February: Execs Capitalize on Price Rally, Not Crisis

Insider Selling in the Mid‑February Window

Tennessee‑based TTM Technologies saw a flurry of share sales by its top executives on February 13‑20, 2026, with the most recent filing from EVP of A&D Sector, Catherine Gridley, reporting a sale of 20,000 shares at an average price of $105.94. The transaction occurred just days after the stock closed near $108, a level close to the 52‑week high of $111. The timing—shortly after a modest 17‑percent weekly rally and a 9‑percent monthly gain—suggests that insiders are capitalizing on a strong price run rather than reacting to an underlying earnings or balance‑sheet shock. With a market cap of roughly $11.2 billion and a P/E of 55.9, the stock trades at a premium, which can make short‑term selling attractive for executives looking to diversify or lock in gains.

What It Means for Investors

Insider selling alone is not a harbinger of doom. Historically, Gridley’s trades have been a mix of buys and sells, with a net position that remains large (about 129,000 shares after the February 20 sale). The most recent sale was 1% of her holdings, a modest percentage that does not signal a loss of confidence. In fact, insiders have purchased 19,138 shares in February alone, indicating ongoing participation. For shareholders, the key takeaway is that the company’s fundamentals—rapid revenue growth, high gross margins, and a strong pipeline of PCB customers—remain intact. The recent insider activity is more likely a tactical decision to rebalance a portfolio than evidence of a looming downturn.

Gridley Catherine A: A Transaction Profile

Gridley’s transaction history is characterized by a disciplined approach: she sells large blocks in the summer and early fall, then builds back in the spring and late winter. Her February sales (≈ 35% of her February total) come after a period of buying, suggesting a “sell‑after‑rise” pattern. Notably, her most aggressive sell dates (August 2025, February 2026) coincide with periods of strong market sentiment and price appreciation. While the June 2025 buy at $0.00 indicates a share‑based compensation event rather than a market purchase, the subsequent August sales at $44‑$40 per share show she is comfortable realizing gains when the stock reaches a new high. Overall, Gridley’s activity indicates a long‑term stake with periodic portfolio rebalancing rather than a tactical bet against TTM.

Broader Insider Landscape

The February 13‑20 window also saw significant sales from other EVP‑level officers—Daniel J. Weber, Shawn A. Powers, and others—each offloading shares in the $93‑$96 range. Their combined volume dwarfs Gridley’s, hinting at a broader internal liquidity need or a corporate dividend‑share plan. The pattern aligns with a systematic “sell‑after‑earnings” strategy that many Nasdaq‑listed tech firms adopt, especially when their stocks hit all‑time highs. For the company, this can create a temporary uptick in supply, but the underlying demand—driven by its niche PCB manufacturing capabilities and exposure to high‑growth OEMs—should cushion any short‑term volatility.

Bottom Line for the Trading Desk

• Short‑term volatility is likely to be limited; the insider sales are modest relative to the firm’s total shares outstanding and do not indicate an imminent price collapse.
• Long‑term fundamentals remain solid; TTM’s high P/E and premium valuation reflect expectations of continued revenue expansion in the PCB market.
• Watch for a potential rebound; if the broader technology sector rallies or if TTM lands a new major OEM contract (e.g., a tie‑in with a large smartphone or server manufacturer), the stock could regain momentum even after the current selling window.

For portfolio managers, the current insider activity provides a window to reassess the risk‑reward profile: the stock offers upside potential, but the recent selling suggests a prudent approach to position sizing and a focus on monitoring any macro‑sector shifts that could affect the PCB supply chain.