TTM Technologies (NASDAQ:TTMI) Shares Climb 6.4% on Earnings Beat

Key Points

• TTM Technologies shares rose 6.4% after the company reported third-quarter revenue of $1.20 billion and non-GAAP EPS of $1.46, beating estimates of $1.13 billion and $1.25, respectively. Revenue increased nearly 60% year over year.
• Management raised its outlook, projecting fourth-quarter revenue of $1.42 billion to $1.44 billion and preliminary 2027 revenue of $6.5 billion to $6.75 billion, supported by AI-related data-center demand and a $2 billion aerospace and defense backlog.
• Despite buy ratings and a $188.50 consensus price target, analysts lowered several targets amid concerns about lead-time delays, acquisition-related debt and integration risks. TTM’s planned $650 million Ophir Optics acquisition and 2.8-times pro forma net leverage add to investor uncertainty.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report) was up 6.4% on Friday following a stronger than expected earnings report. The stock traded as high as $78.39 and last traded at $78.6090. 2,087,632 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 2,669,763 shares. The stock had previously closed at $73.89.

The technology company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.21. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.13 billion. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%. The firm's revenue was up 59.9% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share.

Key Headlines Impacting TTM Technologies

Here are the key news stories impacting TTM Technologies this week:

• Positive Sentiment: TTM reported record third-quarter net sales of $1.20 billion, up nearly 60% year over year. Non-GAAP EPS was $1.46, above the $1.25 consensus estimate, while adjusted EBITDA rose to $242.3 million and margins expanded to 20.1%. TTM Technologies Reports Third Quarter 2026 Results
• Positive Sentiment: Management raised its outlook, forecasting fourth-quarter revenue of $1.42 billion to $1.44 billion and initiating a preliminary 2027 revenue forecast of $6.5 billion to $6.75 billion. Data Center and Networking revenue benefited from AI demand, while Aerospace and Defense backlog reached $2 billion. TTM Technologies: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Needham maintained a “buy” rating, and its revised $150 price target still implies substantial potential upside from the referenced price level. Needham analyst rating
• Neutral Sentiment: Analysts lowered their targets following the earnings release: Needham cut its target from $175 to $150, while Stifel reduced its target to $165. The continued buy-oriented ratings indicate longer-term confidence, but the target reductions reflect heightened near-term risks. Stifel price target update
• Negative Sentiment: Investors reacted negatively to management commentary about material lead times of up to 24 weeks and potential delays in data-center programs, raising concerns that strong demand may not translate into near-term shipments.
• Negative Sentiment: Recent acquisitions, including the planned $650 million Ophir Optics purchase, are increasing borrowing and financing costs. Net leverage was 2.8 times pro forma adjusted EBITDA after the Epiq acquisition, intensifying concerns about debt-service obligations and integration risk. TTM Technologies shares fall amid expanding debt load
• Negative Sentiment: Several law firms announced investigations into possible securities-law violations or securities fraud after the post-earnings selloff. These notices do not establish wrongdoing, but they add headline and litigation uncertainty. Ademi TTMI shareholder alert

Analysts Set New Price Targets

Several research firms have weighed in on TTMI. Stifel Nicolaus dropped their target price on TTM Technologies from $205.00 to $165.00 and set a "buy" rating for the company in a research report on Friday. Zacks Research lowered TTM Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Wall Street Zen cut TTM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. Needham & Company LLC dropped their price objective on shares of TTM Technologies from $175.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Truist Financial lifted their target price on shares of TTM Technologies from $224.00 to $231.00 and gave the company a "buy" rating in a report on Tuesday, October 13th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, TTM Technologies has a consensus rating of "Moderate Buy" and an average target price of $188.50.

Insiders Place Their Bets

In other news, CEO Edwin Roks acquired 10,000 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $111.77 per share, for a total transaction of $1,117,700.00. Following the completion of the purchase, the chief executive officer directly owned 64,814 shares of the company's stock, valued at $7,244,260.78. This represents a 18.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dale Knecht sold 26,198 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the completion of the sale, the senior vice president directly owned 40,138 shares in the company, valued at approximately $5,699,596. This trade represents a 39.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of TTM Technologies during the second quarter valued at approximately $2,053,347,000. Wellington Management Group LLP increased its holdings in shares of TTM Technologies by 61.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,268,404 shares of the technology company's stock valued at $424,237,000 after acquiring an additional 867,255 shares during the last quarter. Atalan Capital Partners LP acquired a new position in TTM Technologies in the 2nd quarter valued at $189,234,000. Bank of New York Mellon Corp increased its position in TTM Technologies by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 715,543 shares of the technology company's stock worth $69,708,000 after buying an additional 11,610 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of TTM Technologies by 6.5% during the 1st quarter. Bank of America Corp DE now owns 636,152 shares of the technology company's stock worth $61,974,000 after purchasing an additional 38,710 shares during the period. Institutional investors own 95.79% of the company's stock.

TTM Technologies Stock Up 6.4%

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.78 and a quick ratio of 1.54. The business has a 50 day moving average of $118.27 and a 200 day moving average of $142.13. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 34.97 and a beta of 2.14.

About TTM Technologies

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.

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