moneyheap
TTMI · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is TTM Technologies Inc (TTMI) stock moving?
TTMI rallied from a $73.89 close on Oct 22 to a $90.79 close on Oct 28 after record Q3 results (sales up 60% to $1.2B, adjusted EBITDA margin 20.1%, book-to-bill 2.13, $2.0B A&D backlog) and a completed $100M buyback at an average $86.31. The stock then fell sharply to a $62.22 close on Nov 5 on 9.7M shares, roughly double the recent average volume, and the provided news does not explain that move. Insider buying followed: a director bought 10,000 shares on Nov 5 and an insider bought $309,600 of stock on Nov 9. The shares have since recovered to $72.23 on Nov 10 but remain well below the late-October highs and the $86.31 average buyback price. Fundamentals and capital return are supportive, with a new $100M buyback authorized through Oct 27, 2027, and data center/AI demand at 41% of sales. Offsetting this, the $650M Ophir acquisition and pending UK and German deals add debt-funded growth and integration risk, and the stock's 20%+ swings within weeks signal high volatility.
News behind the analysis
- TTM Technologies Insider Purchases SharesAn insider bought company shares worth $309,600, according to a recent SEC filing.
- TTM Technologies Director Purchases SharesDirector Ali Wajid acquired 10,000 shares of TTM common stock.
- TTM Announces Completion of Existing 2025 Share Repurchase Program and Authorization of New $100 Million ProgramCompleted about 1.16M shares of buybacks at an average $86.31 (about $100M) and authorized a new $100M program running to Oct 27, 2027.
- TTM Technologies, Inc. Reports Third Quarter 2026 ResultsQ3 net sales of $1.2B (up 60% YoY), record GAAP net income of $84.8M and adjusted EBITDA of $242.3M (20.1% margin); book-to-bill 2.13.
- TTM Technologies, Inc. Agrees to Acquire MKS Inc.'s Ophir Optics Business, Adding Advanced Infrared Optics CapabilitiesAgreed to buy Ophir Optics for $650M in cash (about 10.3x expected FY 2027 adjusted EBITDA), with closing expected in Q2 2027 and no guidance impact stated as included.
About TTM Technologies Inc
TTM Technologies is a Santa Ana, California-based manufacturer of advanced printed circuit boards (PCBs), substrates, radio-frequency (RF) components and microwave assemblies, and defense mission systems, with factories in North America and Asia. It is one of the largest PCB makers in North America and a major supplier to the US defense industry, and AI data-center demand has recently driven much of its growth.
How it makes money
TTM sells custom-built circuit boards, RF components and electronic assemblies to equipment makers. It reports sales by end market. In Q3 2026, data center and networking made up about 41% of sales and was the fastest-growing market, and medical, industrial and instrumentation made up about 18%. Automotive was about 7%, and aerospace and defense made up most of the remaining share, roughly a third. Q3 2026 sales were a record of about $1.2 billion, and the company guided full-year 2026 sales to about $4.5 billion. It is also growing through acquisitions in RF, defense and optics, such as the pending purchase of MKS's Ophir optics business.
What usually moves TTMI
- AI data-center and networking hardware spending
- US defense budgets and program backlog
- Capacity expansion and capital spending in Asia
- US-China trade and tariff policy
- Acquisitions and how well they are integrated