Welcome to our dedicated page for TTM Technologies news (Ticker: TTMI), a resource for investors and traders seeking the latest updates and insights on TTM Technologies stock.
TTM Technologies Inc (NASDAQ: TTMI) is a leading global manufacturer specializing in advanced technology solutions. Based in the United States, the company operates with a significant global footprint, employing over 30,000 individuals across various factories and offices worldwide. TTM stands for 'Time-To-Market,' reflecting the company's commitment to providing time-critical, one-stop manufacturing services that enable customers to bring new products to market more swiftly.
TTM Technologies focuses on manufacturing printed circuit boards (PCBs), which are essential components in a wide array of products, from cutting-edge smartphones to advanced radar systems used in military aircraft and ships. The company operates in two main segments: Printed Circuit Boards and RF&S Components. The Printed Circuit Boards segment, which generates the majority of TTM's revenue, offers a diverse range of PCBs, along with layout design, simulation, and testing services. The RF&S Components segment specializes in radio frequency (RF) components, RF microwave, and microelectronic assemblies, supporting industries such as aerospace, telecommunications, and medical fields.
TTM Technologies has achieved notable success in various markets, including networking, telecommunications, computing, aerospace, and medical fields. The company's recent achievements include the groundbreaking for a new high-tech manufacturing facility in Syracuse, New York, which is expected to bring an estimated 400 new jobs and support the domestic production of ultra-high density interconnect (HDI) PCBs, crucial for national security requirements.
Financially, TTM reported net sales of $572.6 million for the third quarter of 2023. Despite a slight decrease from previous years, the company exhibited strong performance in non-GAAP measures, with net income of $44.9 million. Additionally, TTM has demonstrated a solid balance sheet, enabling stock repurchase while maintaining a net leverage ratio of 1.5x. For the fourth quarter of 2023, the company projects revenues between $550 million and $590 million.
In terms of partnerships and projects, TTM continues to collaborate closely with New York State to fortify its position as a premier technology hub. The company's investment in the Syracuse facility aligns with New York's emphasis on bolstering the U.S. electronics sector, supporting federal initiatives like the Tech Hub designation for the Buffalo-Rochester-Syracuse area.
Looking ahead, TTM Technologies remains focused on expanding its capabilities and market presence, leveraging its robust infrastructure and skilled workforce to drive innovation and growth in the technology manufacturing sector. With ongoing projects and a commitment to sustainability and efficiency, TTM is poised to remain a key player in the global technology landscape.
TTM Technologies has launched its new Xinger® high-performance 50W directional and hybrid couplers, specifically designed for X-Band commercial-off-the-shelf military and aerospace applications. These compact 5mm x 3.2mm components operate within the 8-12 GHz frequency band and are ideal for tasks such as power and frequency detection, VSWR monitoring, and power splitting. With a peak to average ratio of 12dB and an ENIG finish, these couplers are built for durability in harsh environments. Samples are currently available, and the products will be available for purchase later this summer.
TTM Technologies, Inc. appointed Wajid Ali to the Board of Directors, replacing outgoing director Dr. Dov S. Zakheim. Mr. Ali, a seasoned executive with over 20 years of experience in the technology industry, brings extensive financial expertise from companies like Lumentum Holdings Inc. and Synaptics Incorporated. The Board now comprises nine directors, with eight meeting NASDAQ's independence criteria.
TTM Technologies, Inc. (NASDAQ: TTMI) is participating in upcoming investor conferences including Barclays Leveraged Finance Conference, B. Riley Institutional Investor Conference, and Stifel Cross Sector Insight Conference to present to investors.
TTM Technologies, Inc. reported strong financial results for the first quarter of 2024, with net sales of $570.1 million. GAAP net income was $10.5 million, and non-GAAP net income was $32.8 million. The company repurchased 600,000 shares of common stock. TTM's business outlook for the second quarter of 2024 is positive, with estimated revenues between $560 million to $600 million.
FAQ
What is the current stock price of TTM Technologies (TTMI)?
What is the market cap of TTM Technologies (TTMI)?
What does TTM Technologies Inc specialize in?
Where is TTM Technologies Inc based?
What are the main segments of TTM Technologies?
In which industries are TTM Technologies' products used?
What are the recent financial highlights of TTM Technologies?
What is TTM Technologies' latest project?
What does 'TTM' in TTM Technologies stand for?
How does TTM Technologies support national security?
What is the workforce size of TTM Technologies?
What are TTM Technologies' future financial projections?
