TTM Technologies falls amid sector rotation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 26 2024
0mins
Should l Buy TTMI?
Source: SeekingAlpha
TTM Technologies Inc's stock price decreased by 5.94% as it crossed below the 5-day SMA, reflecting a challenging trading session.
The decline in TTM Technologies' stock is attributed to sector rotation, as the broader market, including the Nasdaq-100 and S&P 500, experienced losses of 0.78% and 0.48%, respectively. This indicates a shift in investor sentiment away from technology stocks, impacting TTM's performance negatively.
Investors may need to reassess their positions in TTM Technologies as the stock's movement suggests a potential shift in market dynamics, particularly within the technology sector.
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Analyst Views on TTMI
Wall Street analysts forecast TTMI stock price to fall
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 153.770
Low
72.00
Averages
80.75
High
91.00
Current: 153.770
Low
72.00
Averages
80.75
High
91.00
About TTMI
TTM Technologies, Inc. is a global manufacturer of technology solutions including mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and technologically advanced printed circuit boards (PCB). The A&D segment consists of PCBs, value-added assemblies, microelectronics, RF/microwave components and assemblies, and integrated mission systems. Its products support surveillance, intelligence, communications, and other critical missions for customers in the aerospace and defense industry. Commercial segment consists of PCBs using customer-supplied engineering and design plans supporting customers in the automotive, medical, industrial, and instrumentation, networking, and data center computing end markets. RF&S Components segment consists of TTM designed RF components for commercial customers in the telecommunications, industrial, and instrumentation markets, as well as commercial off-the-shelf components for certain aerospace and defense customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Analysis of TTM Technologies and Pershing Square IPO Performance
- TTM Technologies Performance: TTM Technologies is recognized as part of a significant shift in computing, and while specific stock performance details are not disclosed, it is viewed as a noteworthy investment opportunity, indicating market expectations for its future potential.
- Pershing Square IPO Reaction: The IPO pricing of Pershing Square was disappointing; however, management expressed the need to observe performance over several quarters to better assess the company's true condition, reflecting a cautious approach to short-term volatility.
- Market Response Analysis: The market's reaction to TTM Technologies and Pershing Square indicates that investor interest in emerging technologies and IPOs remains strong, despite pricing challenges, with a generally optimistic long-term outlook.
- Investor Confidence: Despite short-term uncertainties, the performance of TTM Technologies and Pershing Square continues to attract investor attention, demonstrating robust market confidence in technological transformations and newly listed companies.
See More
TTM Technologies Surpasses Q1 Expectations with Record Results
- Record Sales: TTM Technologies reported a 30% year-over-year increase in net sales to $846 million in Q1, setting a new company record and indicating strong market demand, particularly in data center and networking sectors.
- Significant Net Income Growth: Non-GAAP net income surged 52% to over $80 million, or $0.75 per share, significantly exceeding analyst expectations, reflecting a marked improvement in the company's profitability.
- Optimistic Future Guidance: For Q2, TTM projects net sales between $930 million and $970 million, with adjusted net income per share ranging from $0.82 to $0.88, both surpassing average market forecasts, indicating ongoing growth potential.
- AI Market Driving Demand: The company's performance is primarily driven by sustained demand for AI infrastructure, and this trend is expected to continue, solidifying TTM's position in the industry and supporting future earnings growth.
See More
TTM Technologies Exceeds Q2 Expectations with Strong Growth
- Sales Surge: TTM Technologies reported a 30% year-over-year increase in net sales, reaching $846 million, setting a new all-time company record, which underscores the strong demand in the data center and networking markets, thereby solidifying its market position.
- Profitability Boost: The company's non-GAAP net income soared 52% to over $80 million, or $0.75 per share, significantly exceeding analyst expectations of $0.67, reflecting a robust performance in profitability.
- Positive Future Guidance: TTM's guidance for the second quarter anticipates net sales between $930 million and $970 million, with adjusted earnings per share projected at $0.82 to $0.88, both surpassing average analyst forecasts, indicating sustained growth potential.
- AI Market Demand: The company's growth is primarily driven by ongoing demand for AI infrastructure, and this trend is expected to continue, positioning TTM as a key player in the expanding AI capabilities market, attracting investor interest.
See More
TTM Technologies Reports Record Q1 2026 Earnings and Growth Outlook
- Record Sales Performance: TTM Technologies achieved $846 million in sales and a non-GAAP EPS of $0.75 in Q1 2026, both exceeding prior guidance and marking all-time highs, showcasing the company's strong performance amid robust market demand and solidifying its leadership position in the industry.
- Improved Order and Delivery Capacity: The book-to-bill ratio for Q1 was 1.41, with the commercial segment at 1.65, indicating strong market demand, while the 90-day backlog increased from $517 million last year to $787 million, highlighting the company's revenue growth potential in the coming months.
- Optimistic Future Outlook: The company projects Q2 2026 net sales between $930 million and $970 million, with non-GAAP EPS ranging from $0.82 to $0.88, reflecting management's confidence in sustained growth and a plan to achieve 15% to 20% annual revenue growth over the next three years.
- Increased Capital Expenditure: TTM Technologies raised its capital expenditure target for 2026 to $300 million to $320 million to support organic growth opportunities, indicating a proactive approach to expanding capacity and investing in technology to meet rising market demand.
See More
TTM Tech (TTMI) Q1 2026 Earnings Transcript
See More
TTM Technologies Q1 Earnings Exceed Expectations
- Earnings Beat: TTM Technologies reported a Q1 non-GAAP EPS of $0.75, exceeding expectations by $0.08, which highlights the company's strong profitability and boosts investor confidence.
- Significant Revenue Growth: The company achieved revenues of $846 million in Q1, reflecting a 30.4% year-over-year increase and surpassing estimates by $58.69 million, indicating robust sales performance amid strong market demand.
- Strong Market Demand: The Aerospace & Defense sector accounted for 40% of total net sales, while the Data Center and Networking segment represented 36%, demonstrating that ongoing AI demand is driving growth and enhancing the company's market position.
- Optimistic Outlook: TTM forecasts Q2 2026 net sales between $930 million and $970 million, exceeding the consensus of $822.53 million, showcasing the company's confidence in sustained growth potential moving forward.
See More
Analysis of TTM Technologies and Pershing Square IPO Performance
- TTM Technologies Performance: TTM Technologies is recognized as part of a significant shift in computing, and while specific stock performance details are not disclosed, it is viewed as a noteworthy investment opportunity, indicating market expectations for its future potential.
- Pershing Square IPO Reaction: The IPO pricing of Pershing Square was disappointing; however, management expressed the need to observe performance over several quarters to better assess the company's true condition, reflecting a cautious approach to short-term volatility.
- Market Response Analysis: The market's reaction to TTM Technologies and Pershing Square indicates that investor interest in emerging technologies and IPOs remains strong, despite pricing challenges, with a generally optimistic long-term outlook.
- Investor Confidence: Despite short-term uncertainties, the performance of TTM Technologies and Pershing Square continues to attract investor attention, demonstrating robust market confidence in technological transformations and newly listed companies.
See More
TTM Technologies Surpasses Q1 Expectations with Record Results
- Record Sales: TTM Technologies reported a 30% year-over-year increase in net sales to $846 million in Q1, setting a new company record and indicating strong market demand, particularly in data center and networking sectors.
- Significant Net Income Growth: Non-GAAP net income surged 52% to over $80 million, or $0.75 per share, significantly exceeding analyst expectations, reflecting a marked improvement in the company's profitability.
- Optimistic Future Guidance: For Q2, TTM projects net sales between $930 million and $970 million, with adjusted net income per share ranging from $0.82 to $0.88, both surpassing average market forecasts, indicating ongoing growth potential.
- AI Market Driving Demand: The company's performance is primarily driven by sustained demand for AI infrastructure, and this trend is expected to continue, solidifying TTM's position in the industry and supporting future earnings growth.
See More
TTM Technologies Exceeds Q2 Expectations with Strong Growth
- Sales Surge: TTM Technologies reported a 30% year-over-year increase in net sales, reaching $846 million, setting a new all-time company record, which underscores the strong demand in the data center and networking markets, thereby solidifying its market position.
- Profitability Boost: The company's non-GAAP net income soared 52% to over $80 million, or $0.75 per share, significantly exceeding analyst expectations of $0.67, reflecting a robust performance in profitability.
- Positive Future Guidance: TTM's guidance for the second quarter anticipates net sales between $930 million and $970 million, with adjusted earnings per share projected at $0.82 to $0.88, both surpassing average analyst forecasts, indicating sustained growth potential.
- AI Market Demand: The company's growth is primarily driven by ongoing demand for AI infrastructure, and this trend is expected to continue, positioning TTM as a key player in the expanding AI capabilities market, attracting investor interest.
See More
TTM Technologies Reports Record Q1 2026 Earnings and Growth Outlook
- Record Sales Performance: TTM Technologies achieved $846 million in sales and a non-GAAP EPS of $0.75 in Q1 2026, both exceeding prior guidance and marking all-time highs, showcasing the company's strong performance amid robust market demand and solidifying its leadership position in the industry.
- Improved Order and Delivery Capacity: The book-to-bill ratio for Q1 was 1.41, with the commercial segment at 1.65, indicating strong market demand, while the 90-day backlog increased from $517 million last year to $787 million, highlighting the company's revenue growth potential in the coming months.
- Optimistic Future Outlook: The company projects Q2 2026 net sales between $930 million and $970 million, with non-GAAP EPS ranging from $0.82 to $0.88, reflecting management's confidence in sustained growth and a plan to achieve 15% to 20% annual revenue growth over the next three years.
- Increased Capital Expenditure: TTM Technologies raised its capital expenditure target for 2026 to $300 million to $320 million to support organic growth opportunities, indicating a proactive approach to expanding capacity and investing in technology to meet rising market demand.
See More
TTM Tech (TTMI) Q1 2026 Earnings Transcript
See More
TTM Technologies Q1 Earnings Exceed Expectations
- Earnings Beat: TTM Technologies reported a Q1 non-GAAP EPS of $0.75, exceeding expectations by $0.08, which highlights the company's strong profitability and boosts investor confidence.
- Significant Revenue Growth: The company achieved revenues of $846 million in Q1, reflecting a 30.4% year-over-year increase and surpassing estimates by $58.69 million, indicating robust sales performance amid strong market demand.
- Strong Market Demand: The Aerospace & Defense sector accounted for 40% of total net sales, while the Data Center and Networking segment represented 36%, demonstrating that ongoing AI demand is driving growth and enhancing the company's market position.
- Optimistic Outlook: TTM forecasts Q2 2026 net sales between $930 million and $970 million, exceeding the consensus of $822.53 million, showcasing the company's confidence in sustained growth potential moving forward.
See More
