TTM Technologies (NASDAQ:TTMI) Trading Down 9.3% – Here’s What Happened

TTM Technologies, Inc. (NASDAQ:TTMI) shares dropped 9.3% on Tuesday . The company 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.

TTM Technologies News Summary

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

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on TTM Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. B. Riley Financial lifted 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. Weiss Ratings raised TTM Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Zacks Research upgraded TTM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen raised TTM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $214.25.

TTM Technologies Price Performance

The company has a 50 day moving average price of $156.88 and a 200 day moving average price of $135.71. The firm has a market cap of $13.13 billion, a PE ratio of 56.25 and a beta of 2.15. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

TTM Technologies (NASDAQ:TTMI) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%.The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $962.04 million. During the same quarter in the prior year, the firm posted $0.58 EPS. The company’s revenue was up 37.4% compared to the same quarter last year. On average, sell-side analysts expect that TTM Technologies, Inc. will post 4.26 EPS for the current year.

Insider Buying and Selling

In other TTM Technologies news, EVP Daniel J. Weber sold 2,915 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $208.94, for a total value of $609,060.10. Following the sale, the executive vice president owned 88,250 shares of the company’s stock, valued at approximately $18,438,955. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dale Martin Knecht sold 26,198 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $142.00, for a total value of $3,720,116.00. Following the completion of the transaction, the senior vice president owned 40,138 shares of the company’s stock, valued at approximately $5,699,596. This represents a 39.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 108,241 shares of company stock valued at $20,911,975 in the last three months. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On TTM Technologies

Several hedge funds have recently added to or reduced their stakes in TTMI. Rokos Capital Management LLP purchased a new stake in TTM Technologies in the 1st quarter valued at approximately $13,031,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in TTM Technologies by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 197,799 shares of the technology company’s stock valued at $19,270,000 after buying an additional 97,799 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in TTM Technologies during the fourth quarter worth $668,000. Geode Capital Management LLC increased its position in TTM Technologies by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,667,956 shares of the technology company’s stock worth $184,119,000 after buying an additional 81,588 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of TTM Technologies in the first quarter worth $36,130,000. 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.