TTM Technologies Conference Call Summary Company Overview - TTM Technologies is a high-tech technology company focused on advanced interconnect solutions, including PCBs, substrates, and advanced packaging [9][10] - The company aims to increase visibility in the market and has plans for significant growth in the coming years [11] Key Market Insights - TTM is affected by 80% of current megatrends, including AI, defense spending, and automation [9] - The company expects to grow its top line by 5% to 20% annually over the next three years and to double its earnings from 2025 to 2027 [11] Data Center Market - Data center sales accounted for approximately 22% of total sales in the first nine months of 2025, with a 44% increase in Q3 [12] - The data center and networking markets are forecasted to grow by over 30% this year, driven by AI [14] - TTM has strong visibility into customer demand, with a six to nine-month outlook on orders [14] Capacity and Production - TTM has added 25% capacity in its Chinese plants dedicated to AI work, with expansions in Dongguan and Guangzhou [22] - The company plans to invest $200-$300 million over the next two to three years to expand existing facilities rather than building new ones [23] - The Penang facility is part of the "China plus one" strategy but has faced challenges in ramping up capacity due to cultural and operational differences [26][27] Defense Sector - The defense sector represents about 45% of TTM's revenue, with a significant backlog of approximately $1.5 billion [62] - The company is focused on advanced interconnect solutions for radar, surveillance, and communication systems [59][62] - TTM is positioned as a trusted partner for U.S. defense needs, benefiting from stable government budgets and long-term relationships [62] Financial Performance and Projections - TTM is expected to achieve consistent growth and may update its financial targets due to recent performance exceeding previous models [75] - The company is not currently focused on share buybacks but prioritizes expansion and R&D investments [78] M&A Strategy - TTM is open to acquisitions, particularly in the U.S. and Europe, but is not in a rush due to strong organic growth [69] - The company is exploring opportunities to support defense primes and may consider carve-outs from larger companies [73] Market Trends - The medical and industrial instrumentation (MII) market is showing signs of recovery, with a 20% sales increase in 2025 [47] - The automotive market has been challenging, with a decline in sales for three consecutive years [49] - TTM is focusing on high-end applications and automation within these markets, leveraging long-term customer relationships [50] Conclusion - TTM Technologies is strategically positioned for growth in high-tech markets, particularly in data centers and defense, while navigating challenges in other sectors. The company is committed to enhancing its operational capacity and maintaining strong customer relationships to drive future success.

Core Insights - TTM Technologies, Inc. has been awarded the fifth annual TTM Chair for Community Service Award for its contributions to the Central New York community in 2025 [1][2] - The award includes a $20,000 donation to the United Way of Central New York, reflecting TTM's commitment to community service [1][5] Company Overview - TTM Technologies, Inc. is a leading global manufacturer specializing in technology products such as mission systems, RF components, RF microwave/microelectronic assemblies, and advanced printed circuit boards (PCBs) [3] - The company emphasizes time-to-market, providing design, engineering, and manufacturing services that help customers expedite product development [3] Community Engagement - The Syracuse Campus of TTM has a long-standing partnership with the United Way of Central New York, which was reinforced in 2025 through various community service initiatives [2] - Activities included donation drives, creating greeting cards for seniors, cleaning veterans' gravestones, and volunteering at local soup kitchens [2] - The TTM Chair for Community Service Award was established to honor the legacy of retired Board Chairman Robert Klatell, promoting community leadership and public service [2]

Core Insights - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by approximately 200 points on Friday [1] Company Highlights - CG Oncology Inc (NASDAQ:CGON) saw its shares rise by 21.8% to $51.05 after announcing an expedited timeline for topline data from the Phase 3 PIVOT-006 clinical trial, now expected in the first half of 2026 [1][2] - Rich Sparkle Holdings Ltd (NASDAQ:ANPA) surged 113.6% to $51.70 following a $39 million offering of 3 million ordinary shares at $13 per share [3] - NovaBay Pharmaceuticals Inc (NYSE:NBY) increased by 34.4% to $12.81 [3] - Quanterix Corp (NASDAQ:QTRX) gained 29.3% to $8.42 after naming Everett Cunningham as President and CEO, effective January 19 [3] - MoonLake Immunotherapeutics (NASDAQ:MLTX) rose 21.7% to $17.45 after receiving FDA feedback on its clinical evidence strategy for Sonelokimab in Hidradenitis Suppurativa [3] - Enliven Therapeutics Inc (NASDAQ:ELVN) increased by 21.5% to $28.24, sharing positive initial data from its Phase 1b ENABLE trial for ELVN-001 in chronic myeloid leukemia [3] - Aeva Technologies Inc (NASDAQ:AEVA) surged 21.2% to $20.47 [3] - Loandepot Inc (NYSE:LDI) rose 20.1% to $2.93 [3] - ASP Isotopes Inc (NASDAQ:ASPI) increased by 19.7% to $7.71 [3] - Allogene Therapeutics Inc (NASDAQ:ALLO) gained 19.5% to $1.78 [3] - Opendoor Technologies Inc (NASDAQ:OPEN) rose 19.2% to $7.67 following a new housing market proposal by President Donald Trump [3] - Liquidia Corp (NASDAQ:LQDA) jumped 14% to $36.22 after announcing preliminary full-year 2025 YUTREPIA net sales [3] - Vistra Corp (NYSE:VST) gained 13.1% to $170.34 after entering into 20-year power purchase agreements for zero-carbon nuclear energy to support Meta's operations [3] - Oklo Inc (NYSE:OKLO) rose 12.6% to $109.95 after announcing an agreement with Meta for a 1.2 gigawatt power campus [3] - Applied Digital Corp (NASDAQ:APLD) surged 11.8% to $35.72, reporting strong second-quarter results and advanced talks with a new hyperscaler tenant [3] - AST SpaceMobile Inc (NASDAQ:ASTS) gained 10% to $99.65 [3] - SanDisk Corp (NASDAQ:SNDK) increased by 9.6% to $366.93 [3] - Mirion Technologies Inc (NYSE:MIR) rose 9.5% to $26.56 [3] - TTM Technologies Inc (NASDAQ:TTMI) gained 9.1% to $72.94 [3] - SoundHound AI Inc (NASDAQ:SOUN) rose 8.5% to $11.96 [3] - Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) gained 8.3% to $112.64, with B. Riley Securities maintaining a Buy rating and raising the price target from $105 to $128 [3]

Group 1: Market Overview - US equities showed strong performance in Q3 2025, driven by easing tariff concerns, a pro-growth budget from Congress, and expectations of further rate cuts by the Federal Reserve [1] - The Loomis Sayles Small Cap Value Fund returned 6.21% in Q3 2025, underperforming the Russell 2000 Value Index, which returned 12.60% [1] Group 2: Company Focus - TTM Technologies, Inc. - TTM Technologies, Inc. (NASDAQ:TTMI) is the largest US-domiciled supplier of printed circuit boards, essential for many electronic products [3] - The company reported net sales of $752.7 million in Q3 2025, up from $616.5 million in the same period of 2024, indicating strong revenue growth [4] - TTM Technologies' stock gained 186.46% over the last 52 weeks, closing at $72.59 per share with a market capitalization of $7.501 billion on December 24, 2025 [2] - The company has improved revenue quality and margins through factory consolidation, with significant growth driven by demand from the AI servers and aerospace/defense sectors [3] Group 3: Investment Sentiment - TTM Technologies was held by 43 hedge fund portfolios at the end of Q3 2025, an increase from 40 in the previous quarter, indicating growing interest among institutional investors [4] - Despite the positive outlook for TTM Technologies, some analysts suggest that certain AI stocks may offer greater upside potential with less downside risk [4]

Core Insights - TTM Technologies, Inc. is positioned as a beneficiary of the AI hardware boom and increasing defense expenditures, indicating a strong demand for high-performance tech infrastructure [1] Company Analysis - TTM Technologies is recognized for its unique financial profile, which attracts interest from analysts focused on quantamental analysis, combining data-driven models with fundamental research [1] - The company is involved in a structured analytical process that integrates top-down screening with bottom-up company-specific analysis, enhancing its investment appeal [1] Industry Context - The rising demand for advanced technology infrastructure is primarily driven by the growth in AI hardware and defense spending, suggesting a favorable market environment for companies like TTM Technologies [1]

Group 1 - TTM Technologies (NASDAQ: TTMI) is positioned as a beneficiary of the AI hardware boom and increasing defense expenditures [1] - There is a growing demand for high-performance tech infrastructure, driven by advancements in technology [1] - The analysis emphasizes a structured approach combining top-down screening and bottom-up company-specific analysis [1] Group 2 - The article aims to make unique investment ideas and research accessible to both retail and professional investors [1] - The author has a beneficial long position in TTMI shares, indicating confidence in the company's future performance [1]

Core Insights - TTM Technologies (TTMI) is positioned for significant long-term growth due to its focus on high-demand markets, particularly in aerospace and defense [1] - The company benefits from the increasing demand for data, which is a crucial factor in its growth strategy [1] Company Analysis - TTM Technologies plays a vital role in the aerospace and defense sectors, indicating its strategic importance in these high-demand industries [1] - The company's growth potential is linked to macroeconomic trends and the rising need for advanced data solutions [1] Market Trends - The aerospace and defense markets are experiencing heightened demand, which is expected to positively impact TTM Technologies' performance [1] - The overall market for data solutions is expanding, providing additional opportunities for TTM Technologies to capitalize on [1]

Core Viewpoint - TTM Technologies, Inc. has emerged as a notable tech stock, experiencing a rise of over 200% in a single year, which is rare in the current market environment [1]. Group 1 - TTM Technologies, Inc. is highlighted as a significant investment opportunity within the tech sector due to its substantial stock price increase [1]. - The analysis emphasizes the importance of accessing high-quality investment insights, which can be obtained through subscriptions to platforms like Beyond the Wall Investing [1]. Group 2 - The article mentions that the chief investment analyst at a family office is responsible for navigating extensive information to identify critical investment ideas [1].

Core Viewpoint - TTM Technologies, Inc. has emerged as a notable tech stock, experiencing a remarkable increase of over 200% in a single year, which is rare in the current market environment [1]. Company Summary - TTM Technologies, Inc. is highlighted as a standout performer among tech stocks, indicating strong market interest and potential for growth [1]. Analyst Insights - The analysis is conducted by a chief investment analyst at a family office, emphasizing the importance of filtering vast amounts of information to identify critical investment ideas [1].

Company Performance - TTM Technologies (TTMI) has seen a significant stock increase of 6.9% over the past month, reaching a new 52-week high of $73.4, and has gained 194.3% since the start of the year, outperforming the Zacks Computer and Technology sector's 28.1% gain and the Zacks Electronics - Miscellaneous Components industry's 50.3% return [1] - The company has a strong record of positive earnings surprises, beating the Zacks Consensus Estimate in each of the last four quarters, with the latest EPS reported at $0.67 against a consensus estimate of $0.61 [2] Earnings Projections - For the current fiscal year, TTM is expected to post earnings of $2.44 per share on revenues of $2.88 billion, reflecting a 42.69% change in EPS and an 18.08% change in revenues [3] - For the next fiscal year, the expected earnings are $2.87 per share on revenues of $3.15 billion, indicating a year-over-year change of 17.89% in EPS and 9.26% in revenues [3] Valuation Metrics - TTM currently trades at 29.9X current fiscal year EPS estimates, which is a premium compared to the peer industry average of 28.2X, and on a trailing cash flow basis, it trades at 24.7X versus the peer group's average of 16.5X [6] - The stock has a Value Score of C, a Growth Score of A, and a Momentum Score of F, resulting in a combined VGM Score of B [6] Zacks Rank - TTM holds a Zacks Rank of 2 (Buy) due to rising earnings estimates, meeting the criteria for investors looking for stocks with a Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B [7] Industry Comparison - The Electronics - Miscellaneous Components industry is positioned in the top 26% of all industries, indicating favorable conditions for both TTM and its peer, Allient Inc. (ALNT), which has a Zacks Rank of 1 (Strong Buy) [10]