TTM Technologies, Inc. (TTMI) - Stock Analysis
Last updated: Apr 25, 2026
Research Idea
Research content for general circulation. Not individualized advice. Methodology & Disclosures
TTM Technologies is riding AI/datacenter and defense demand: recent S&P MidCap 400 inclusion, a multiâyear ~$200M Raytheon supply deal, 22% sales growth, and sizable backlogs, with the stock up ~35% over 21 days and ~22% above its 21âday SMAâstrong but extended momentum that can still fuel nearâterm gains.
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AI Analyst Overview
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Valuation Metrics
Fundamental Analysis
Key Financial Insights: ⢠Steady margins ⢠Strong liquidity ⢠Weak FCF TTMI is financially stable with steady profitability and strong liquidity, but heavy capital intensity, meaningful leverage, weak free-cash-flow conversion, and a rich valuation make the stock look expensive relative to its fundamentals.
Price Behavior
Key Price Behavior Insights: ⢠Strong Uptrend ⢠Extended Run ⢠Clear Resistance Support Level: $125 to $126 Resistance Level: $149 TTMI's last month trend is strongly bullish with a sharp run from about $95.93 to $149.01, but it now looks short-term overextended and may need a pause or pullback before another leg higher.
Sentiment & News
Key News Insights: ⢠Defense backlog ⢠AI exposure ⢠Momentum high TTMI is gaining bullish momentum as defense backlog growth and AI infrastructure exposure drive constructive analyst sentiment, fresh investor outreach, and new 52-week highs.
AI Summary
TTMI should now be viewed less as a cyclical board maker and more as a strategic AI/defense infrastructure play, but the stock already prices in smooth execution, so the key actionable risk is whether Penang/Syracuse can ramp without further margin drag and finally convert strong backlog into durable free cash flow.
Description
TTM Technologies, Inc. manufactures and sells a broad range of printed circuit boards and RF components for customers worldwide, operating through PCB and RF&S Components segments. Its product lineup spans conventional and advanced PCB technologies, RF and microwave parts, IC substrates and multi-chip modules, plus assemblies and system integration, supported by design, testing and rapid-turn services. The company serves OEMs and EMS providers across aerospace and defense, data centers, automotive, medical and industrial markets and is headquartered in Santa Ana, California, since its incorporation in 1978.
Idea History
| Date | Close | Ticker | Company | Summary | Status | P/L |
|---|---|---|---|---|---|---|
| Apr 13 | Apr 20 | TTMI | TTM Technologies, Inc. | TTM Technologies is riding AI/datacenter and defense demand: recent S&P MidCap 400 inclusion, a multiâyear ~$200M Raytheon supply deal, 22% sales growth, and sizable backlogs, with the stock up ~35% over 21 days and ~22% above its 21âday SMAâstrong but extended momentum that can still fuel nearâterm gains. | Closed | +1.9% |
| Feb 24 | Mar 3 | TTMI | TTM Technologies, Inc. | Backlog strength ($1.61B, bookâtoâbill 1.46), heavy exposure to AI/data center and aerospace & defense, a potential ~$200M Raytheon agreement, and S&P MidCap 400 inclusion have driven a breakout (~12.5% in 21 days, ~10% above 21âday SMA); this combination of structural demand plus index/contract catalysts supports TTMI as a short-term AI/defense momentum name despite rich valuation and capexâdriven FCF pressure. | Closed | -2.5% |
| Jan 26 | Feb 2 | TTMI | TTM Technologies, Inc. | TTM Technologies benefits from AI and defense sales growth, solid backlog, rising technical momentum, and positive institutional interest, indicating near-term price appreciation potential. | Closed | +8.6% |