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: ⢠Margin Improvement ⢠Free Cash Flow ⢠Rising Leverage TTMI's improving quarterly margins and free cash flow are encouraging, but rising leverage and elevated valuation multiples warrant caution.
Price Behavior
Key Price Behavior Insights: ⢠Support rebound ⢠Resistance ceiling ⢠Elevated volatility Support Level: $112â114 (deeper: $107) Resistance Level: $124â129 TTMI rebounded from $112â114 support and moved above its short-term average, but elevated volatility and resistance at $124â129 keep the broader downtrend unresolved.
Sentiment & News
Key News Insights: ⢠Record Defense Backlog ⢠AI Expansion Plans ⢠Share Price Weakness TTM's strong defense backlog and AI data-center expansion support growth, but financing needs and sharp share volatility warrant caution.
AI Summary
TTMI is evolving into an AI-data-center and defense-electronics growth platform, but its premium valuation is justified only if the N+M ramp, $1.7B defense backlog, and EPIQ integration translate quickly into sustained margins and free cash flow despite sharply higher debt; investors should monitor cash conversion and leverage rather than headline revenue growth.
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% |