TTM Technologies (TTMI) Shares Fall -24% Over 30 Days Despite Record Q2 Results
Key Takeaways
- TTM Technologies shares closed at $110.54 on August 21, 2026, down roughly 24% over the prior 30 days from $144.70 on July 22, 2026.
- The decline occurred despite record second-quarter results, including revenue of $1.0 billion (up 37% year over year) and non-GAAP earnings of $0.99 per share, with raised full-year guidance.
- The selloff was driven primarily by valuation compression after a steep AI-led rally, alongside insider selling and concerns tied to a $1.1 billion acquisition.
- Over the past quarter, the stock has fallen about 42% from roughly $190, though it remains sharply higher on a year-to-date and one-year basis.
- Sell-side analysts have largely maintained bullish ratings, but the market has de-rated the stock's elevated multiple.
Understanding TTM Technologies (TTMI) and Its Market Position
TTM Technologies, Inc. (TTMI) is a leading manufacturer of printed circuit boards (PCBs), radio frequency (RF) components, and advanced electronic systems. The company serves four primary end markets: data center and networking, aerospace and defense, medical/industrial/instrumentation, and automotive. Management has estimated that roughly 80% of net sales are tied to two major secular themes—artificial intelligence infrastructure and defense modernization.
TTM operates a vertically integrated, design-to-manufacturing model serving approximately 1,300 customers, with production across the United States, Asia, and, through recent acquisitions, Europe. Its competitive strengths include advanced interconnect technology, a growing footprint in ultra-high-density interconnect (Ultra-HDI) boards, and strong positioning in both AI data centers and defense programs. Investors follow the stock as a direct beneficiary of AI capital spending and rising global defense budgets.
Recent Stock Price Performance: Last 30 Days vs. Quarter
Over the last 30 days, TTMI shares declined from $144.70 on July 22, 2026, to $110.54 on August 21, 2026, a drop of approximately 23.6%. The move was not linear: the stock saw intermittent bounces in early-to-mid August before resuming its decline late in the month.
The quarterly picture is steeper. From a closing price of $189.92 on May 22, 2026, shares have fallen roughly 42% to the most recent close. The stock reached an intraday 52-week high of $223.83 in late June before a prolonged de-rating, leaving the share price about 51% below that peak. Despite the sharp pullback, TTMI remains up roughly 60% year to date and more than 170% over the trailing 12 months, reflecting the scale of its earlier AI-driven advance.
What Drove the 30-Day Selloff in TTMI
The most important factor behind the decline was a valuation reset rather than deteriorating fundamentals. After surging more than 60% in April 2026 alone, TTMI traded at multiples that many investors considered stretched, with a trailing price-to-earnings ratio well above its historical range. Independent fair-value models flagged the stock as significantly overvalued even as optimism around AI infrastructure remained elevated. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Notably, the company's strong second-quarter report did not halt the slide. On August 5, 2026, TTM reported record quarterly revenue of $1.0 billion, up 37% year over year, and non-GAAP earnings per share of $0.99, up 71% from the prior year. Management raised full-year guidance to approximately $4.4 billion in net sales and non-GAAP EPS approaching $5.00. Yet the shares continued to fall, a pattern consistent with a market repricing stocks where elevated valuations required exceptional execution to sustain.
Additional pressures included meaningful insider selling—reported at roughly $17 million to $20 million over the prior 90 days—and broader sector rotation out of high-multiple electronics and AI-infrastructure names. In mid-August, TTM also announced an agreement to acquire Epiq Solutions for approximately $1.1 billion in cash, a deal expected to expand its defense and space portfolio but one that raised financing and integration concerns, with net leverage projected to rise to about 2.3 times at closing.
Drivers Behind the Quarterly Performance Decline
The quarterly decline reflects a longer arc: a powerful rally through late June, followed by a sharp de-rating. Over the past three months, fundamentals remained strong. TTM reported record backlog of $901 million at the end of the second quarter, an overall book-to-bill ratio of 1.49, and a $1.7 billion aerospace and defense program backlog with a qualified pipeline exceeding $7 billion. Data center and networking revenue grew 91% year over year, driven by AI buildouts and the ramp of its N+M asymmetrical printed circuit boards.
However, the share price had run far ahead of even these strong results. The combination of a rich valuation, insider selling, supply-chain pressure in lower-complexity materials affecting the automotive segment, and periodic volatility across AI-related equities weighed on the stock throughout the quarter. The result was a roughly 42% decline over three months, even as the underlying business continued to post record results and raise its outlook.
What Investors Should Watch Next for TTMI
Several factors are likely to shape TTMI shares going forward. The company's next earnings report is expected around early November 2026, and investors will watch whether data center and networking demand continues to accelerate and whether guidance for full-year 2026 is maintained or raised. The production ramp and yields of N+M asymmetrical circuit boards will be closely monitored, given their influence on revenue and adjusted EBITDA margins.
The closing and integration of the Epiq Solutions acquisition, as well as the pending European acquisitions of STG and ILFA, represent key execution milestones. Defense program bookings—including items tied to radar, sensor, and priority restricted programs—and the sustainability of hyperscaler capital spending will also matter. Finally, investors should monitor leverage reduction plans, margin expansion, and whether the stock's valuation stabilizes relative to its earnings trajectory.
Exploring Systematic Approaches for Volatile Names Like TTMI
In my own research on names that have seen sharp moves, I find it useful to review automated strategies that can complement manual analysis. Tickeron’s Trending AI Robots page offers a curated view of top-performing bots across thousands of tickers. These vary in strategy, timeframe, and risk metrics, helping users match approaches to their own horizons without replacing core fundamental work.
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Financial writer and active order flow futures trader with a focus on fundamental analysis, macroeconomic factors, and equity research. I make in-depth blogs on stocks and ETFs, bridging the gap between raw market data and real-world trading decisions.
Aroon Indicator for TTMI shows an upward move is likely
TTMI's Aroon Indicator triggered a bullish signal on October 09, 2026. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 273 similar instances where the Aroon Indicator showed a similar pattern. In 218 of the 273 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at 80%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
The 10-day moving average for TTMI crossed bullishly above the 50-day moving average on October 01, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 10 of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 59%.
Following a +5.25% 3-day Advance, the price is estimated to grow further. Considering data from situations where TTMI advanced for three days, in 260 of 328 cases, the price rose further within the following month. The odds of a continued upward trend are 79%.
TTMI may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 08, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on TTMI as a result. In 46 of 75 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 61%.
The Moving Average Convergence Divergence Histogram (MACD) for TTMI turned negative on October 09, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In 33 of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at 67%.
TTMI moved below its 50-day moving average on October 08, 2026 date and that indicates a change from an upward trend to a downward trend.
The 50-day moving average for TTMI moved below the 200-day moving average on September 29, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where TTMI declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 68%.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 47 (best 1 - 100 worst), indicating steady price growth. TTMI’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 50 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 66, placing this stock slightly better than average.
The Tickeron PE Growth Rating for this company is 56 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 60 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 61 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.761) is normal, around the industry mean (5.615). P/E Ratio (55.937) is within average values for comparable stocks, (81.453). Projected Growth (PEG Ratio) (0.330) is also within normal values, averaging (1.658). Dividend Yield (0.000) settles around the average of (0.005) among similar stocks. P/S Ratio (3.604) is also within normal values, averaging (4.796).
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a manufacturer of printed circuit boards
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