TTM Technologies (NASDAQ:TTMI) Issues Quarterly Earnings Results

Key Points

• TTM Technologies reported record quarterly revenue of $1.0 billion, up 37% year over year, though reported EPS of $0.77 missed the $0.90 consensus estimate. Non-GAAP EPS reached a record $0.99, up 71%.
• AI-driven demand boosted Data Center and Networking sales by 91%, while management expects 2026 sales of approximately $4.4 billion and non-GAAP EPS approaching $5. The company also raised its Q3 2026 EPS guidance to $1.21–$1.27.
• Shares fell 1.2% after the earnings release, despite an analyst consensus rating of “Moderate Buy” and an average price target of $212; recent insider transactions included executives selling approximately $17.2 million of stock.

TTM Technologies (NASDAQ:TTMI - Get Free Report) released its earnings results on Wednesday. The technology company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.13), FiscalAI reports. TTM Technologies had a net margin of 6.29% and a return on equity of 13.70%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $962.04 million. TTM Technologies updated its Q3 2026 guidance to 1.210-1.270 EPS.

Here are the key takeaways from TTM Technologies' conference call:

• Q2 revenue reached a record $1.0 billion, up 37% year over year, while non-GAAP EPS rose 71% to a record $0.99 and adjusted EBITDA margin expanded to 16.6%.
• Strong AI-related demand drove 91% growth in Data Center and Networking sales, with the M+N asymmetrical PCB ramp expected to contribute roughly $600 million in second-half revenue and support further margin improvement. Management now expects 2026 sales of approximately $4.4 billion and non-GAAP EPS approaching $5.
• Aerospace and Defense bookings remained robust, with a 1.3 book-to-bill ratio, $1.7 billion in program backlog, and more than $7 billion of qualified pipeline opportunities tied to areas including Golden Dome and munitions programs.
• TTM expects its planned acquisitions of Swiss Technology Group and ILFA to close in Q3, adding a European foothold and less than 5% incremental sales with moderate EBITDA accretion; financial details remain undisclosed pending closing and regulatory approvals.

TTM Technologies Stock Down 1.2%

Shares of TTMI traded down $1.54 during midday trading on Wednesday, hitting $131.25. The stock had a trading volume of 4,699,875 shares, compared to its average volume of 2,608,719. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 70.95 and a beta of 2.14. The company has a 50 day simple moving average of $164.90 and a two-hundred day simple moving average of $133.30. TTM Technologies has a twelve month low of $39.20 and a twelve month high of $223.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.88 and a quick ratio of 1.61.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TTMI. B. Riley Financial upped their price target on TTM Technologies from $182.00 to $208.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Stifel Nicolaus boosted their price objective on shares of TTM Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Wall Street Zen downgraded shares of TTM Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Zacks Research cut shares of TTM Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Truist Financial upped their price objective on shares of TTM Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $212.00.

Insider Activity at TTM Technologies

In other news, SVP Dale Martin Knecht sold 6,754 shares of TTM Technologies stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $209.79, for a total value of $1,416,921.66. Following the sale, the senior vice president directly owned 68,350 shares in the company, valued at $14,339,146.50. This trade represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Catherine A. Gridley sold 8,966 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $209.80, for a total transaction of $1,881,066.80. Following the completion of the sale, the executive vice president directly owned 69,679 shares in the company, valued at approximately $14,618,654.20. This represents a 11.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 82,043 shares of company stock valued at $17,191,859 over the last ninety days. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On TTM Technologies

A number of large investors have recently modified their holdings of TTMI. Royal Bank of Canada increased its position in shares of TTM Technologies by 66.6% in the first quarter. Royal Bank of Canada now owns 26,433 shares of the technology company's stock valued at $543,000 after acquiring an additional 10,565 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TTM Technologies by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,087 shares of the technology company's stock worth $1,232,000 after purchasing an additional 2,632 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of TTM Technologies by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,963 shares of the technology company's stock worth $34,989,000 after purchasing an additional 115,766 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of TTM Technologies by 7.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,563 shares of the technology company's stock worth $3,908,000 after purchasing an additional 13,691 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of TTM Technologies by 1,150.2% in the 1st quarter. Jane Street Group LLC now owns 139,889 shares of the technology company's stock valued at $2,869,000 after buying an additional 128,700 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

About TTM Technologies

TTM Technologies, Inc is a leading global manufacturer of printed circuit boards (PCBs) and related electronic components. The company's product portfolio spans rigid, flexible and rigid-flex circuit boards, as well as advanced substrates, backplanes, hybrid circuits and integrated antenna modules. In addition to PCB fabrication, TTM offers comprehensive system‐level services, including design support, surface mount technology (SMT) assembly, cable and wire harness assembly, and complete box-build solutions to address end-to-end customer requirements.

Serving a broad array of end markets, TTM Technologies supports customers in the communications, computing, automotive, aerospace and defense, industrial, and medical sectors.

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