TTM Technologies, Inc. (TTMI)

TTM Technologies' stock price has seen substantial growth, with a 201.04% increase between October 21, 2024, and October 20, 2025. The company's Q4 2024 net sales exceeded guidance, driven by strong performance in Aerospace and Defense and Data Center Computing markets. For Q1 2025, management provided revenue guidance between $600 million and $640 million and non-GAAP EPS guidance of $0.37 to $0.43. TTM Technologies set its Q3 2025 guidance at $0.570-$0.630 EPS. Analyst ratings have generally been positive, with Truist Financial and Needham & Company LLC lifting their price targets and reiterating "buy" ratings, while Zacks Research and Wall Street Zen adjusted their ratings from "strong-buy" to "hold" and "buy" respectively.

TTM Technologies' results of operations are subject to demand fluctuations and seasonality. Factors influencing these fluctuations include the timing of orders and shipments from major customers, manufacturing capacity utilization levels, price competition, and changes in the mix of revenues. The company's CEO has noted improved seasonal margin consistency due to a higher A&D revenue mix and the strategic sale of the Mobility business. Q1 2025 revenue guidance reflected slightly lower sequential revenue, partly attributed to the impact of the Chinese New Year. Historically, there is a bias for the stock to lean long in October.

TTM Technologies, Inc. is a global manufacturer of technology solutions, focusing on printed circuit boards (PCBs) and radio frequency (RF) components, operating within the Semiconductors sector and the electronics manufacturing industry. The company provides a wide array of products and services, serving diverse end-markets such as aerospace and defense, data center computing, automotive, medical, industrial and instrumentation, and networking. TTM's focus is on enabling customers to rapidly develop and launch new products through its one-stop design, engineering, and manufacturing solutions.

TTM Technologies has a global operational presence with approximately 24 specialized facilities across North America and Asia, and a business presence in Europe. Its PCB segment includes domestic system, sub-system, and PCB plants, as well as PCB fabrication plants in China, Malaysia, and Canada. The RF and Specialty Components segment consists of domestic and Chinese RF component plants. The company is expanding its capacity in Asia, particularly in Penang, Malaysia, and in the US with a new high-tech PCB facility in Syracuse, New York.

TTM Technologies has demonstrated a strong brand reputation, particularly through its robust performance in the Aerospace and Defense and Data Center Computing markets, driven by demand for generative AI. The company has highlighted its strategic progress in facility expansions and revenue diversification, contributing to a less cyclical and more differentiated business model. TTM's focus on advanced PCB technologies for data centers and AI, along with its expansion of manufacturing capabilities in key regions, further enhances its standing in the industry. While the automotive sector has presented some challenges, the growth in medical, instrumentation, and industrial automation markets has been positive.

TTM Technologies, Inc. has a diverse ownership structure, with institutional shareholders holding approximately 66.16% to 98.37% of the company’s stock, insiders holding around 2.37% to 42.37%, and public companies and individual investors holding approximately 0.00% to 31.47%. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, Dimensional Fund Advisors Lp, and State Street Corp. Hsiang Chien Tang is noted as the largest individual shareholder, owning 38.94 million shares, representing 37.69% of the company.