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: ⢠Profitable operations ⢠Rising leverage ⢠Cash-flow recovery TTMI remains profitable with improving recent free cash flow and solid interest coverage, but rising leverage, working-capital pressure, and a premium valuation warrant caution.
Price Behavior
Key Price Behavior Insights: ⢠Sharp rebound ⢠Resistance test ⢠Fragile momentum Support Level: $115â$118 Resistance Level: $125â$126 TTMI has rebounded sharply from $107.12 but remains fragile; hold above $115â$118 and break $125â$126 to improve the outlook, while failure risks another pullback.
Sentiment & News
Key News Insights: ⢠AI Demand Surge ⢠Defense Backlog ⢠Valuation Risk TTM Technologies' strong AI- and defense-driven growth, rising margins, capacity expansion, and bullish analyst sentiment support a positive outlook despite recent share-price weakness and valuation risks.
AI Summary
TTMI is evolving into an AI data-center and defense interconnect platform, but at a premium valuation the investable proof point is whether N+M capacity ramps and acquisitions translate into free cash flow that outpaces capex without overleveraging the balance sheet. Monitor cash conversion, working capital, and post-deal leverage closely; failure to deliver could drive a sharp valuation reset despite strong 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% |