TTM Technologies, Inc. (TTMI) Stock Price & How to Invest

TTM Technologies (Nasdaq: TTMI) makes technologically advanced printed circuit boards, RF and microwave components, and mission-systems assemblies. The name stands for time-to-market, reflecting a one-stop design, engineering, and manufacturing model. Its two anchor end markets are aerospace and defense (roughly 44% of sales, backed by a record backlog of about $1.61 billion as of early 2026 and multi-year programs like a $200 million Raytheon LTAMDS radar award) and data center and networking (about 36% of sales), where demand has surged with AI-driven interconnect complexity. The company has invested in domestic capacity, including a new Ultra-HDI plant in Syracuse, New York, and announced planned all-cash acquisitions of Swiss Technology Group and ILFA expected to close in the third quarter of 2026.

The investment picture is a growth-and-valuation tension. TTM posted record 2025 revenue of about $2.91 billion and followed with roughly 30% year-over-year growth in the first quarter of 2026, raising guidance on strong AI and defense demand. That momentum drove the stock from the low double digits to an all-time high around $224 in June 2026 before pulling back, leaving a market capitalization near $16 billion and a trailing price-to-earnings ratio in the mid-80s, well above its historical average. Bulls see a durable, defense-insulated infrastructure supplier compounding on secular tailwinds; skeptics point to cyclical PCB history, customer concentration, and a valuation that leaves little room for disappointment. Walnut is not an investment adviser, and this page is descriptive rather than a recommendation.

PCB manufacturing has historically been cyclical and capital-intensive, and a slowdown in AI capital spending or defense budgets would pressure both anchor markets. Customer concentration is meaningful, with large OEMs and defense contractors accounting for a significant share of revenue, so a lost program or design socket can matter. The 2026 valuation is elevated relative to history, leaving the stock sensitive to any growth disappointment or margin slippage. Integration risk from the STG and ILFA acquisitions, plus tariff, supply-chain, and foreign-competition dynamics, add further uncertainty. Global competitors with larger scale in commodity PCB volume can pressure pricing outside TTM's defense niche.

4 analysts publish price targets on TTMI, averaging $212.00 against a $115.44 price as of August 2026, or +83.6%. The published targets run from $205.00 to $220.00, a narrow spread, and the ratings split 4 buy, 0 hold, 0 sell. Over the last six months there have been 8 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full TTMI forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on TTM Technologies, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. AI data center interconnect demand. Generative AI is pushing data center and networking to about 36% of sales, with that segment growing roughly 60% year-over-year in early 2026. The most optimistic published target, $220.00, assumes this works close to its best case.

The case against. PCB manufacturing has historically been cyclical and capital-intensive, and a slowdown in AI capital spending or defense budgets would pressure both anchor markets. The most pessimistic target, $205.00, is roughly what TTMI is worth if this bites instead.

Read the full bull and bear case on TTMI, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see TTM Technologies, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$3.1B
• FY2025 revenue: ~$2.91B
• Q1 2026 revenue: ~$846M (up ~30% YoY)
• Q1 2026 non-GAAP EPS: ~$0.75
• Market cap: ~$16B
• Trailing P/E: ~85 (forward ~53)

TTM delivered record first-quarter 2026 net sales near $846 million with an adjusted EBITDA margin around 16%, and raised guidance on AI and defense demand. The stock re-rated sharply into 2026, reaching an all-time high near $224 in June before pulling back. Trailing and forward multiples sit well above TTM's multi-year averages, reflecting high growth expectations.

If you want TTMI exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

Other names that sit close to TTMI: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get TTMI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (IWN, SCHA, DFAS), which spreads the position across many companies. Or build it into a focused thematic portfolio, so TTMI sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where TTMI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

TTM Technologies is a real, growing infrastructure supplier riding both AI and defense demand, with the main question being valuation after a large 2026 run-up.

Whether TTMI is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is TTMI a buy or a sell?, and where the stock could go from here in the TTMI stock forecast.

For income investors, whether TTMI pays a dividend and how the payout looks is covered in does TTMI pay a dividend? And to weigh TTMI against a peer, read the full side-by-side comparisons: TTMI vs SANM and TTMI vs RF.