TTM Technologies Analysts Cut Their Forecasts Following Q3 Results

TTM Technologies Inc. (NASDAQ:TTMI) on Thursday posted stronger-than-expected third-quarter earnings and raised guidance.

TTM reported adjusted earnings of $1.46 per share, beating analysts’ consensus estimate of $1.25. Revenue surged 60% year over year to $1.204 billion, exceeding the $1.130 billion estimate.

TTM raised its full-year 2026 revenue forecast to $4.47 billion-$4.49 billion from $4 billion, above Wall Street’s estimate of $4.413 billion. The company also increased its adjusted earnings outlook to $4.97-$5.03 per share, exceeding the $4.81 consensus estimate.

For the fourth quarter, TTM expects revenue of $1.42 billion-$1.44 billion, compared with analysts’ estimate of $1.433 billion. Adjusted earnings are projected at $1.77-$1.83 per share, versus the $1.81 estimate.

“Once again, we delivered quarterly records for both net sales and non-GAAP EPS,” said Edwin Roks, CEO of TTM. “All key markets contributed to our 60% year on year growth with Data Center & Networking up 115%, Medical, Industrial & Instrumentation up 97%, and Aerospace & Defense up 21%. Our margin expansion efforts are producing results as evidenced by adjusted EBITDA margin exceeding 20% for the first time.”

TTM Technologies shares rose 1.4% to $74.89 in pre-market trading.

These analysts made changes to their price targets on TTM Technologies following earnings announcement.

• Needham analyst James Ricchiuti maintained the stock with a Buy and lowered the price target from $175 to $150.
• Stifel analyst Ruben Roy maintained the stock with a Buy and lowered the price target from $205 to $165.

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