TTM Technologies (TTMI) Surges 12.73% on Strong Q3 Earnings, AI/Defense Expansion

The share price rose to its highest level so far this month today, with an intraday gain of 4.35%.

TTM Technologies (TTMI) has surged 12.73% over two consecutive trading days, fueled by robust third-quarter financial results and strategic expansion into high-growth sectors. The company reported non-GAAP earnings per share of $0.67, outpacing estimates, while revenue jumped 22% year-over-year to $752.7 million. Strong demand in AI-driven data center computing, networking, and aerospace/defense sectors underpinned the performance, with analysts highlighting the firm’s diversified revenue streams and long-term growth potential in generative AI infrastructure.

Financial metrics reinforced investor confidence, with EBIT and EBITDA margins at 7.4% and 12.7%, respectively, reflecting operational efficiency. A debt-to-equity ratio of 0.59 and interest coverage of 8 underscored prudent leverage management. Analysts at Truist, Needham, and B. Riley upgraded price targets to $78–$77, citing Q3 outperformance and favorable guidance for Q4. Technical indicators also signaled bullish momentum, as the stock broke above a $64 resistance level, with analysts eyeing $72–$78 as potential next targets. TTM’s strategic alignment with AI and defense markets, coupled with its resilient balance sheet, positions it to capitalize on sustained industry tailwinds.