TTM Technologies (NASDAQ:TTMI) Releases Earnings Results

TTM Technologies (NASDAQ:TTMI) issued its earnings results on Wednesday. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09, FiscalAI reports. The business had revenue of $845.98 million during the quarter, compared to the consensus estimate of $789.84 million. TTM Technologies had a return on equity of 13.30% and a net margin of 6.11%.The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. TTM Technologies updated its Q2 2026 guidance to 0.820-0.880 EPS.

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

• Record Q1 results — net sales of $846 million (+30% YoY) and non?GAAP EPS of $0.75 with Adjusted EBITDA margin of 15.7%, both above guidance.
• AI-driven data center & networking demand was the primary growth engine, up 61% YoY and representing 36% of Q1 sales (management expects ~42% in Q2).
• Aerospace & Defense scale and backlog — A&D was 40% of sales with a $1.6 billion program backlog and 1.1 book?to?bill, including wins on LTAMDS, AN/APS?153 and Golden Dome.
• Accelerated capital spending and cash use — Q1 CapEx was $107 million, FY26 CapEx guidance rose to $300–$320 million, and free cash flow was a net usage of $85 million in Q1.
• Operational recovery in Penang — yields improved from ~40% toward 70–80% and the site is expected to approach break?even by Q4, lowering prior margin headwinds.

TTM Technologies Stock Up 14.2%

Shares of NASDAQ:TTMI traded up $19.51 on Thursday, hitting $157.01. 3,284,076 shares of the company’s stock were exchanged, compared to its average volume of 2,423,272. The firm’s 50-day moving average is $107.96 and its 200 day moving average is $86.89. The company has a market capitalization of $16.30 billion, a PE ratio of 92.67 and a beta of 1.76. TTM Technologies has a 1-year low of $22.58 and a 1-year high of $180.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.67 and a current ratio of 1.93.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TTMI shares. Truist Financial increased their price target on TTM Technologies from $115.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Research lowered TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Stifel Nicolaus increased their target price on TTM Technologies from $108.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Needham & Company LLC increased their target price on TTM Technologies from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, B. Riley Financial restated a “buy” rating on shares of TTM Technologies in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

TTM Technologies News Roundup

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

• Positive Sentiment: Q1 beat and strong guidance — TTMI reported $0.75 EPS vs. $0.66 consensus and revenue of $845.98M (up 30% YoY). Management raised Q2 EPS guidance to $0.82–0.88 and revenue guidance to $930–$970M (well above street). These results and improved outlook are the primary catalyst for the rally. Q1 Press Release
• Positive Sentiment: AI and defense demand driving backlog growth — coverage highlights TTMI’s large defense backlog (reported in media coverage) and accelerating RF/microwave orders tied to AI and defense platforms, supporting multi?quarter revenue visibility. Defense Backlog Article
• Positive Sentiment: Analyst upgrades and higher price targets — Truist raised its PT to $180 and kept a Buy, and Needham lifted its PT to $160 (Buy). Upgrades add momentum and institutional validation for the beat/guidance. Truist/Needham Coverage The Fly Coverage
• Positive Sentiment: Broad earnings beat coverage — Multiple outlets (Zacks, MarketBeat, Seeking Alpha transcripts/slide deck) are highlighting the upside vs. estimates, reinforcing the market’s positive re?rating. Zacks Article
• Neutral Sentiment: Earnings call and investor materials available — Transcript and slide deck provide detail on segment demand, margin drivers, and backlog if you want to dig into the cadence behind guidance. Useful for modeling but not a fresh catalyst. Earnings Call Transcript
• Neutral Sentiment: Market context — TTMI is among several industrial/tech names moving higher alongside broader market strength; some coverage asks whether the multi?year run makes TTMI “too late” for new buyers. Read for positioning perspective. Is It Too Late?
• Negative Sentiment: Valuation caution — Analysis warns the stock’s rally and premium multiples may price in perfect execution and continued strong growth; elevated P/E and rapid run?up increase downside risk if growth slows. Valuation Warning

Insider Activity

In other news, EVP Catherine A. Gridley sold 20,000 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $105.94, for a total value of $2,118,800.00. Following the completion of the sale, the executive vice president directly owned 78,645 shares of the company’s stock, valued at approximately $8,331,651.30. The trade was a 20.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel J. Weber sold 12,000 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $93.88, for a total value of $1,126,560.00. Following the completion of the sale, the executive vice president directly owned 94,621 shares of the company’s stock, valued at $8,883,019.48. The trade was a 11.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 105,150 shares of company stock worth $10,412,586. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On TTM Technologies

Several institutional investors have recently added to or reduced their stakes in TTMI. Truvestments Capital LLC acquired a new position in TTM Technologies in the 4th quarter valued at about $30,000. Kestra Advisory Services LLC purchased a new stake in TTM Technologies in the 4th quarter valued at approximately $30,000. CIBC Private Wealth Group LLC boosted its holdings in TTM Technologies by 29,550.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 593 shares of the technology company’s stock valued at $41,000 after purchasing an additional 591 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in TTM Technologies by 57.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 597 shares of the technology company’s stock valued at $41,000 after purchasing an additional 219 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in TTM Technologies by 52.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,244 shares of the technology company’s stock valued at $51,000 after purchasing an additional 430 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.