TTM Technologies (NASDAQ:TTMI) Stock Price Down 9.3% - Here's What Happened

Key Points

• TTM Technologies shares fell 9.3% to about $127.87 during Tuesday trading, on volume well below the stock’s average.
• TTM agreed to acquire Epiq Design Solutions for approximately $1.1 billion in cash, expanding its defense and space-computing businesses, though the deal raises leverage, financing, integration and regulatory concerns.
• Despite strong quarterly results—revenue rose 37.4% to roughly $1 billion and EPS beat estimates—analysts remain bullish, with an average “Buy” rating and a $214.25 price target; however, the stock’s premium valuation requires sustained execution.

TTM Technologies, Inc. (NASDAQ:TTMI - Get Free Report)'s share price fell 9.3% during trading on Tuesday . The stock traded as low as $129.00 and last traded at $127.8680. 349,643 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,620,893 shares. The stock had previously closed at $140.98.

Key Headlines Impacting TTM Technologies

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

• Positive Sentiment: Needham reaffirmed its “Buy” rating and $220 price target, implying substantial upside from recent trading levels. The bullish view reflects expectations for continued growth in TTM’s defense, aerospace, data-center and advanced electronics businesses. Benzinga analyst rating report
• Positive Sentiment: TTM agreed to acquire Epiq Design Solutions for approximately $1.1 billion in cash. Epiq provides AI-enabled software-defined radios, RF products and radiation-tolerant space-computing solutions for signals intelligence and electronic-warfare applications. The deal would expand TTM’s addressable defense and space markets, improve vertical integration and strengthen its portfolio of higher-value mission systems. TTM Technologies Strikes $1.1 Billion Deal to Acquire Epiq Solutions
• Positive Sentiment: Management expects the acquisition to be immediately accretive to adjusted EBITDA margins and accretive to non-GAAP diluted EPS in 2028, including projected synergies. TTM also cited strong underlying demand, including plans for more than $1.2 billion of data-center investment and over $400 million of U.S. manufacturing investments through 2029. Veritas Capital Announces $1.1 Billion Sale of Epiq Solutions to TTM Technologies
• Neutral Sentiment: TTM’s latest quarterly results were strong, with revenue rising 37.4% year over year to approximately $1 billion and EPS exceeding analysts’ expectations. However, commentary on the stock emphasizes that its valuation now requires exceptional execution and sustained growth to justify the premium multiple. TTM Technologies: Strong Demand, But The Valuation Requires Exceptional Execution
• Negative Sentiment: The all-cash Epiq transaction raises financing and integration concerns. TTM estimates net leverage will reach 2.3 times at closing, although it expects to reduce leverage to 1.5–1.7 times within 12–18 months. Regulatory approvals, debt-market conditions and execution risks could weigh on sentiment. Recent data also shows extensive insider selling, adding another cautionary signal for investors. TTM Technologies to Acquire Epiq Solutions for $1.1 Billion in All-Cash Deal

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of TTM Technologies from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 target price on shares of TTM Technologies in a research report on Tuesday. Wall Street Zen upgraded shares of TTM Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Truist Financial boosted their price target on shares of TTM Technologies from $215.00 to $224.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of TTM Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $214.25.

TTM Technologies Stock Down 11.6%

The business's fifty day moving average price is $156.88 and its 200 day moving average price is $135.71. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $13.13 billion, a PE ratio of 56.25 and a beta of 2.15.

TTM Technologies (NASDAQ:TTMI - Get Free Report) last announced its earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.10. TTM Technologies had a net margin of 7.01% and a return on equity of 15.67%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $962.04 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The business's quarterly revenue was up 37.4% compared to the same quarter last year. On average, equities research analysts forecast that TTM Technologies, Inc. will post 4.26 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Shawn A. Powers sold 3,367 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $703,500.98. Following the transaction, the executive vice president owned 120,801 shares of the company's stock, valued at approximately $25,240,160.94. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Douglas L. Soder sold 2,874 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $600,493.56. Following the sale, the executive vice president owned 210,634 shares of the company's stock, valued at $44,009,867.96. This trade represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 108,241 shares of company stock worth $20,911,975 over the last quarter. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On TTM Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in TTM Technologies during the 2nd quarter worth $2,053,347,000. Polar Capital Holdings Plc purchased a new stake in shares of TTM Technologies in the third quarter valued at about $176,376,000. Invesco Ltd. boosted its holdings in shares of TTM Technologies by 127.7% in the third quarter. Invesco Ltd. now owns 4,813,903 shares of the technology company's stock valued at $277,281,000 after acquiring an additional 2,699,494 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in shares of TTM Technologies by 112.1% during the fourth quarter. Whale Rock Capital Management LLC now owns 4,276,320 shares of the technology company's stock worth $295,066,000 after acquiring an additional 2,260,035 shares during the period. Finally, Castle Hook Partners LP acquired a new position in shares of TTM Technologies during the fourth quarter worth about $133,351,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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