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TTM Technologies: Needham Reiterates Buy, PT Raised to $56
ByAinvest
Friday, Aug 15, 2025 9:45 pm ET1min read
TTM Technologies: Needham Reiterates Buy, PT Raised to $56
TTM Technologies Inc. (TTMI) has received a positive recommendation from Needham & Co., which has raised its price target to $56. The firm maintains a "buy" rating, citing strong earnings growth and a promising outlook for the company's diverse end markets.In its second quarter of 2025, TTM Technologies reported revenue of $730.6 million, beating analyst estimates by 9%. Adjusted earnings per share (EPS) came in at $0.58, 11% above expectations. The company also reported adjusted EBITDA of $109.7 million, surpassing estimates by 10.8%. Needham noted that the company's diversified end markets and manufacturing footprint have helped it minimize tariff impacts and support top-line growth.
The firm also highlighted the company's ongoing leadership transition, with Thomas Edman planning to retire and Edwin Roks taking over as president and CEO effective September 2025. Roks, who most recently served as strategic adviser to the chairman of Teledyne Technologies, will receive an annual base salary of $1 million and an annual bonus with a target of 125% of his salary.
Needham expects TTM Technologies to continue its strong performance, with revenue guidance for the third quarter of 2025 at $710 million, above analyst estimates of $672.5 million. The firm also expects adjusted EPS for the third quarter to be $0.60, above analyst estimates of $0.54.
The firm's analysts will be watching for customer commitments that trigger investment in new U.S. production capacity, progress toward breakeven and yield improvements at the Penang facility, and further growth in aerospace and defense program backlogs. The ongoing leadership transition and any developments in M&A activity will also be key signposts.
References:
[1] https://www.marketwatch.com/story/ttm-technologies-names-edwin-roks-president-ceo-ccaeed8e
[2] https://finance.yahoo.com/news/5-revealing-analyst-questions-ttm-034255007.html
[3] https://www.marketscreener.com/news/ttm-technologies-names-edwin-roks-ceo-ce7c51d9db8df026
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