TTM Technologies (NASDAQ:TTMI) Posts Earnings Results

23 Oct 2026, 15:46 by Mitch Edgeman · The Markets Daily

TTM Technologies (NASDAQ:TTMI – Get Free Report) announced its earnings results on Thursday. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.21, FiscalAI reports. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. TTM Technologies had a return on equity of 15.67% and a net margin of 7.01%. TTM Technologies’s quarterly revenue was up 59.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share.

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

Positive Sentiment: TTM reported record third-quarter revenue of $1.2 billion, up 60% year over year, with non-GAAP EPS of $1.46 and adjusted EBITDA margin of 20.1%, up 400 basis points. Management raised full-year 2026 revenue guidance to $4.47 billion-$4.49 billion.
Positive Sentiment: Data Center & Networking revenue grew 115% year over year, driven by AI-related N+M boards, which represented about 30% of the segment in the third quarter and are expected to reach roughly 50% in 2027. Management said the products carry gross margins well above the corporate average and could support more than 200 basis points of margin expansion next year.
Positive Sentiment: Aerospace & Defense sales rose 21% year over year, with a 1.6 book-to-bill ratio and record backlog of approximately $2 billion. Management cited strong bookings across radar, surveillance, Golden Dome, and restricted programs, with visibility into about 65% of projected 2027 A&D revenue.
Positive Sentiment: TTM provided preliminary 2027 revenue guidance of $6.5 billion-$6.75 billion and non-GAAP EPS of $8.10-$8.90, implying another year of roughly 50% growth. The outlook includes continued strength across Data Center & Networking, A&D, medical, industrial, instrumentation, and automotive markets.
Negative Sentiment: TTM plans to fund the $650 million Ophir Optics acquisition with cash and borrowings, increasing quarterly interest expense by about $20 million and weighing on near-term EPS. Although management expects leverage below 2x adjusted EBITDA at closing, it said the company will prioritize debt reduction and balance-sheet strengthening after completing the current acquisition program.

TTM Technologies Price Performance

Shares of NASDAQ:TTMI traded up $4.87 during midday trading on Friday, hitting $78.76. The company’s stock had a trading volume of 2,087,632 shares, compared to its average volume of 2,669,763. TTM Technologies has a 12-month low of $55.44 and a 12-month high of $223.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.78. The business’s 50 day simple moving average is $118.27 and its 200 day simple moving average is $142.13. The company has a market cap of $8.30 billion, a P/E ratio of 34.97 and a beta of 2.14.

Insider Transactions at TTM Technologies

In other TTM Technologies news, SVP Dale Knecht sold 26,198 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $142.00, for a total transaction of $3,720,116.00. Following the completion of the transaction, the senior vice president owned 40,138 shares in the company, valued at $5,699,596. The trade was a 39.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edwin Roks bought 10,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was bought at an average price of $111.77 per share, with a total value of $1,117,700.00. Following the acquisition, the chief executive officer owned 64,814 shares in the company, valued at approximately $7,244,260.78. This represents a 18.24% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Needham & Company LLC lowered their price target on shares of TTM Technologies from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus decreased their price objective on TTM Technologies from $205.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday. Wall Street Zen downgraded shares of TTM Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Zacks Research lowered shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Truist Financial increased their price objective on shares of TTM Technologies from $224.00 to $231.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $188.50.

Get Our Latest Research Report on TTM Technologies

More TTM Technologies News

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

Positive Sentiment: TTM reported record third-quarter net sales of $1.20 billion, up nearly 60% year over year. Non-GAAP EPS was $1.46, above the $1.25 consensus estimate, while adjusted EBITDA rose to $242.3 million and margins expanded to 20.1%. TTM Technologies Reports Third Quarter 2026 Results
Positive Sentiment: Management raised its outlook, forecasting fourth-quarter revenue of $1.42 billion to $1.44 billion and initiating a preliminary 2027 revenue forecast of $6.5 billion to $6.75 billion. Data Center and Networking revenue benefited from AI demand, while Aerospace and Defense backlog reached $2 billion. TTM Technologies: 3 Key Takeaways for Long-Term Investors
Positive Sentiment: Needham maintained a “buy” rating, and its revised $150 price target still implies substantial potential upside from the referenced price level. Needham analyst rating
Neutral Sentiment: Analysts lowered their targets following the earnings release: Needham cut its target from $175 to $150, while Stifel reduced its target to $165. The continued buy-oriented ratings indicate longer-term confidence, but the target reductions reflect heightened near-term risks. Stifel price target update
Negative Sentiment: Investors reacted negatively to management commentary about material lead times of up to 24 weeks and potential delays in data-center programs, raising concerns that strong demand may not translate into near-term shipments.
Negative Sentiment: Recent acquisitions, including the planned $650 million Ophir Optics purchase, are increasing borrowing and financing costs. Net leverage was 2.8 times pro forma adjusted EBITDA after the Epiq acquisition, intensifying concerns about debt-service obligations and integration risk. TTM Technologies shares fall amid expanding debt load
Negative Sentiment: Several law firms announced investigations into possible securities-law violations or securities fraud after the post-earnings selloff. These notices do not establish wrongdoing, but they add headline and litigation uncertainty. Ademi TTMI shareholder alert

TTM Technologies Company Profile

(Get Free Report)

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.