Group 1 - Needham raised its price target on TTM Technologies to $65 from $56 while maintaining a Buy rating, citing stronger growth prospects in AI data center and defense markets [1] - Shares of TTM Technologies increased by more than 1% in pre-market trading following the announcement [1] Group 2 - Street estimates for 2026 are considered conservative, especially in TTM's Data Center Computing business [2] - Despite concerns regarding the slower ramp-up at the Penang facility, Needham is confident that TTM's China operations, which represent the majority of production, can meet rising AI-driven demand [2] - There is potential upside from TTM's aerospace and defense segment as it approaches 2026 [2]

Core Insights - First Principles Partners specializes in equity research focused on technology, innovation, and sustainability investment, utilizing a unique approach that breaks down complex problems to their basic elements [1] Group 1: Company Overview - The company has a strong background in investment, private equity, and venture capital, demonstrating a proven track record of delivering strong returns [1] - Articles produced by the company on Seeking Alpha emphasize emerging technologies, sustainable investing, and the intersection of innovation and finance [1] Group 2: Investment Philosophy - The "First Principles" approach allows the company to uncover overlooked investment opportunities by analyzing financial and technological aspects [1] - The company is committed to sharing insights with a wider audience and learning from fellow investors to drive positive change [1]

Core Insights - First Principles Partners specializes in equity research focused on technology, innovation, and sustainability investment, utilizing a unique approach that breaks down complex problems to their basic elements [1] Group 1: Company Overview - The company has a strong background in investment, private equity, and venture capital, demonstrating a proven track record of delivering strong returns [1] - Articles produced by the company emphasize emerging technologies, sustainable investing, and the intersection of innovation and finance [1] Group 2: Investment Philosophy - The "First Principles" approach allows the company to uncover overlooked investment opportunities by simplifying complex financial and technological issues [1] - The company is committed to sharing insights with a wider audience and learning from fellow investors to drive positive change [1]

Core Insights - TTM Technologies, Inc. has introduced new ultra small RF crossover and splitter components to enhance its product lineup in the Radio Frequency & Specialty components sector [1][3] - The company emphasizes its commitment to meeting the demands of the Telecom, Test and Measurement, and Commercial Off-the-Shelf Mil-Aero sectors [1] Product Details - The XMX00400R-02 is a compact crossover designed for layout simplification, capable of handling 2W CW power with an insertion loss of 0.4dB from DC-18GHz and 0.8dB from 18GHz-40GHz, making it suitable for mmWave applications [4] - The XRS00400J1-30 is a 2-way 6dB splitter that features embedded resistive elements, with a transmission loss of 6.7dB, an estimated return loss of 18dB, and an estimated insertion loss of 0.8dB from 18GHz-40GHz, addressing broadband Analog/Digital splitting needs [4]

Core Insights - TTM Technologies, a leader in PCB manufacturing, is partnering with companies like Arista, RTX, and Jabil to develop AI infrastructure aimed at enhancing its market position and driving growth [1] Company Developments - The collaboration with Arista, RTX, and Jabil signifies TTM Technologies' strategic move to leverage AI technologies in its operations, which could lead to improved efficiency and innovation in PCB manufacturing [1] - TTM Technologies is focusing on breaking out in the competitive landscape by integrating advanced technologies, particularly in AI, to meet the evolving demands of the electronics industry [1] Industry Trends - The partnership reflects a broader trend in the electronics industry where companies are increasingly investing in AI and advanced technologies to stay competitive and meet customer needs [1] - The move towards AI infrastructure is indicative of the industry's shift towards automation and smart manufacturing processes, which are expected to enhance productivity and reduce costs [1]

Core Insights - TTM Technologies, Inc. will exhibit at Electronica India 2025, showcasing advancements in PCB technologies and innovative solutions for the electronics industry [1][2][3] Company Overview - TTM Technologies is a leading global manufacturer of technology solutions, including mission systems, RF components, RF microwave/microelectronic assemblies, and advanced printed circuit boards [4] - The company emphasizes time-to-market, enabling customers to shorten product development cycles [4] Industry Engagement - The participation in Electronica India 2025 highlights the importance of the Indian market and the rapidly advancing electronics industry [3] - TTM aims to collaborate with industry leaders and demonstrate how its technologies can support innovations across various sectors, including data center computing, networking communications, medical, industrial, and aerospace [3]

TTM Technologies (TTMI) 2025 Conference Summary Company Overview - TTM Technologies is a technology solutions provider primarily focused on printed circuit boards (PCBs), which account for approximately 75% of its business. The company generated revenues of about $2.5 billion last year and is diversifying into integrated electronics and subsystems [3][4][6]. Core Business Segments - The company operates in five end markets: - Aerospace and Defense (46% of net sales in 2024) - Data Center Computing - Networking - Medical - Automotive [11][20][22]. Growth and Diversification Strategy - TTM has grown through acquisitions and has shifted focus from traditional PCB manufacturing to more complex, value-added products, particularly in aerospace and defense [6][7]. - The company has a program backlog of nearly $500 million, indicating strong future revenue potential [14]. - Year-to-date revenue growth for 2025 is approximately 15%, with defense revenue growth year-over-year at about 21% [13]. Market Trends and Opportunities - The rise of generative AI is driving demand in data center computing and networking, which are expected to grow significantly [18][22]. - The automotive sector is facing challenges, with expected growth below the industry benchmark due to slower adoption of electric vehicles (EVs) in the U.S. and Europe [22][24]. - The medical and industrial automation sectors are also showing growth, driven by advancements in technology and increased demand for sensors and testing equipment [25][26]. Operational Expansion - TTM is expanding its manufacturing footprint globally, with significant operations in Asia (primarily China and Penang) and the U.S. [8][30]. - A new facility in Penang is expected to generate $200 million in annual revenues, while a facility in Syracuse, New York, will focus on ultra-high-density interconnect PCBs for military applications, projected to generate $100 million [32][34]. Financial Performance - The company has achieved operating margins of around 11% to 13%, with a target of maintaining a leverage ratio between 1.5 to 2 [36][40]. - Strong cash flow from operations has enabled TTM to invest in growth and maintain a solid capital structure [39][42]. Strategic Focus - TTM's strategic focus includes diversification, differentiation through engineering capabilities, and operational discipline [26][35]. - The company is also exploring opportunities in the commercial space sector and is preparing for potential onshoring of manufacturing related to generative AI [18][50]. Leadership Transition - A new CEO has recently been appointed, bringing a more technical background, which may influence the company's focus on technology and innovation moving forward [56][58]. Conclusion - TTM Technologies is well-positioned for growth in aerospace and defense, data center computing, and networking, while navigating challenges in the automotive sector. The company's strategic investments and operational expansions are expected to enhance its competitive edge in the market [57][44].

Group 1 - TTM Technologies (TTMI) shares have increased by 2.8% over the past four weeks, closing at $44.57, with a mean price target of $56.75 indicating a potential upside of 27.3% [1] - The mean estimate includes four short-term price targets with a standard deviation of $2.22, suggesting a consensus among analysts, with the lowest estimate at $55.00 (23.4% increase) and the highest at $60.00 (34.6% increase) [2] - Analysts show increasing optimism regarding TTMI's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which historically correlates with stock price movements [4][11] Group 2 - The Zacks Consensus Estimate for TTMI has increased by 0.2% due to one upward revision in earnings estimates over the last 30 days, with no negative revisions [12] - TTMI holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [13] - While the consensus price target may not be a reliable indicator of the extent of TTMI's gains, it does provide a directional guide for potential price movement [14]

Core Insights - TTM Technologies, Inc. has appointed Dr. Edwin Roks as the new President and CEO, effective September 2, 2025, succeeding Thomas T. Edman, who is retiring after serving since 2014 [1][5] - Dr. Roks will also serve as a Class II director on the Board, filling a vacancy with a term expiring at the 2026 annual meeting of stockholders [2] Company Overview - TTM Technologies is a leading global manufacturer of technology solutions, including mission systems, RF components, RF microwave/microelectronic assemblies, and advanced printed circuit boards (PCBs) [6] - The company emphasizes time-to-market, enabling customers to reduce the time required to develop and launch new products [6] Leadership Transition - Dr. Roks brings extensive experience from the aerospace and defense and industrial electronics sectors, having previously served as CEO of Teledyne Technologies until April 2025 [3] - His leadership at Teledyne included significant contributions to growth in digital imaging and successful integration of major acquisitions [3][4] - The Board of Directors expressed confidence in Dr. Roks' ability to guide TTM into its next phase of growth and innovation, highlighting his operational excellence and strategic vision [4]

Core Viewpoint - Investors are increasingly seeking growth stocks that demonstrate above-average growth potential, with TTM Technologies (TTMI) being highlighted as a strong candidate due to its favorable growth metrics and Zacks Rank [2][10]. Group 1: Earnings Growth - TTM Technologies has a historical EPS growth rate of 12.6%, but projected EPS growth for the current year is expected to be 35.5%, significantly higher than the industry average of 15.9% [5]. Group 2: Asset Utilization - The asset utilization ratio for TTM is 0.76, indicating that the company generates $0.76 in sales for every dollar in assets, which is above the industry average of 0.74, showcasing better efficiency in asset utilization [6]. Group 3: Sales Growth - TTM's sales are projected to grow by 15.4% this year, contrasting sharply with the industry average of 0%, indicating strong sales growth potential [7]. Group 4: Earnings Estimate Revisions - The current-year earnings estimates for TTM have been revised upward, with the Zacks Consensus Estimate increasing by 5% over the past month, suggesting positive momentum in earnings expectations [9]. Group 5: Overall Positioning - TTM has achieved a Zacks Rank of 2 (Buy) and a Growth Score of B, positioning it well for potential outperformance in the growth stock category [10][11].