What Happened?
Shares of PCB manufacturing company TTM Technologies (NASDAQ: TTMI) jumped 12.2% in the afternoon session after the company reported strong first-quarter 2026 financial results and provided an upbeat forecast for the second quarter that far exceeded analysts' expectations.
TTM announced quarterly sales of $846 million, a 30.4% increase year on year, and its non-GAAP earnings per share (EPS) of $0.75 easily beat the consensus estimate of $0.67. Adding to the positive results, the company issued an optimistic forecast for the second quarter. It projected revenue of around $950 million and an EPS of approximately $0.85 at the midpoint. Both of these projections were significantly higher than what Wall Street had anticipated, signaling continued momentum and boosting investor confidence.
The shares closed the day at $158.21, up 15.1% from previous close.
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What Is The Market Telling Us
TTM Technologies’s shares are extremely volatile and have had 57 moves greater than 5% over the last year. But moves this big are rare even for TTM Technologies and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 6 days ago when the stock gained 9.8% on the news that B. Riley Financial adjusted its price target on the company's shares as investors grew optimistic ahead of its upcoming earnings report.
The firm raised its price target on TTM Technologies to $162 from $126 while keeping a Buy rating on the stock. Investor enthusiasm was also fueled by strong momentum in the company's AI data center and aerospace businesses. The positive outlook was supported by a broader industry trend of strong demand for analog chips, driven by growth in AI infrastructure and electric vehicles, which was expected to keep the market strong.
TTM Technologies is up 124% since the beginning of the year, and at $158.45 per share, has set a new 52-week high. Investors who bought $1,000 worth of TTM Technologies’s shares 5 years ago would now be looking at an investment worth $10,563.
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