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TTM Technologies Inc - TTMI STOCK NEWS

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.

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TTM Technologies reported strong third quarter fiscal 2022 results with net sales of $671.1 million, a significant increase from $556.8 million in Q3 2021. GAAP net income rose to $43.5 million or $0.42 per diluted share, compared to $21.0 million or $0.19 in the previous year. Non-GAAP net income was $57.9 million, or $0.56 per diluted share. The company generated $80.0 million in operating cash flow and $53.7 million in free cash flow. TTM expects Q4 2022 revenue between $630 million and $670 million.

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TTM Technologies, Inc. (NASDAQ:TTMI) announced a conference call on November 2, 2022, at 4:30 p.m. ET to discuss its third quarter fiscal year 2022 performance. The company will release its financial results on the same day after market close. Interested parties can access the call by dialing 800-263-0877 or via the company's website, where the event will also be simulcast. This call aims to provide insights into TTM's quarterly performance and strategic direction.

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TTM Technologies (NASDAQ: TTMI) has signed a distribution agreement with RFMW, a specialized distributor of RF and microwave components. This partnership aims to enhance TTM's market reach in high-frequency RF technology. TTM will offer its full range of RF&S products, including Xinger® brand items, through RFMW's distribution channels and online store. Both companies expect this collaboration to yield strong opportunities for their customer bases, leveraging RFMW's 20 years of experience in the industry.

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TTM Technologies, Inc. (NASDAQ: TTMI), a prominent global manufacturer of technological solutions, announces its participation in investor conferences in August 2022. These include the Needham Virtual Industrial Tech Conference on August 8, the Jefferies Global Industrials Conference on August 10 at 11:30 PM Eastern Time, and the Jefferies Semis, IT Hardware & Communication Infrastructure Summit on August 30 in Chicago. Live webcasts of the presentations will be available on their website, with replays accessible for a limited time.

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TTM Technologies, Inc. (NASDAQ: TTMI) reported strong financial results for Q2 2022, with net sales of $625.6 million, up from $567.4 million year-over-year. GAAP net income was $27.8 million ($0.27 per diluted share), slightly lower than $28.3 million in Q2 2021. However, non-GAAP net income rose to $55.3 million ($0.54 per diluted share), exceeding the previous year's $40.0 million. The company completed the acquisition of Telephonics and commenced a manufacturing facility in Malaysia, enhancing growth in the Aerospace and Defense market. TTM anticipates Q3 revenue between $655 million and $695 million.

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TTM Technologies (NASDAQ: TTMI) has published its 2022 Corporate Social Responsibility report, emphasizing its commitment to environmental, social, and governance initiatives. The report outlines the social contributions made by employees in North America and China over the past year. CEO Tom Edman expressed satisfaction with the company's progress in ESG performance and the support from the Board of Directors and employees. The full report is available for download online, highlighting TTM's focus on corporate responsibility and community impact.

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Griffon Corporation (NYSE:GFF) reported a strong fiscal third quarter ending June 30, 2022, with revenue reaching $768.2 million, up 31% from $584.2 million last year. Adjusted income from continuing operations hit a record $66.5 million ($1.23 per share), compared to $20.8 million ($0.39 per share) in the prior year. The company initiated a review of strategic alternatives, including a potential sale. Griffon also prepaid $300 million of its Term Loan B credit facility and declared a special dividend of $2.00 per share in July 2022, contributing to total dividends of $2.36 per share for the fiscal year.

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TTM Technologies, Inc. (NASDAQ:TTMI) will host a conference call on August 3, 2022, at 4:30 p.m. ET to review its second quarter fiscal year 2022 performance. The call will be accessible by phone and live-streamed on the company's website, with a recording available for one week afterward. Prior to the call, TTM Technologies will release its second-quarter financial results after market close on the same day. TTM is recognized for its advanced printed circuit boards and assemblies, emphasizing rapid manufacturing and efficient time-to-market services.

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TTM Technologies, Inc. (NASDAQ: TTMI) has introduced new high power density resistors within its RF & Specialty Components unit. The new products handle RF power from 100 to 150 Watts and include the models CW, A100N50X4A, E125N50X4, and E150N50X4. These resistors are designed for efficiency and reliability, targeting applications in industrial and test measurement markets. Available through TTM or its distributors, these advancements expand TTM's portfolio of termination resistors and attenuators, further solidifying its presence in the RF market.

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TTM Technologies (NASDAQ: TTMI) has acquired Telephonics Corporation for approximately $330 million in cash, enhancing its capabilities in the Aerospace and Defense market. This strategic acquisition allows TTM to expand its product offerings and improve its position in surveillance and communications. The deal is expected to generate approximately $12 million in annual cost synergies by the end of 2024 and be immediately accretive to non-GAAP EPS. TTM plans to finance the acquisition using its substantial cash reserves of $519.1 million as of Q1 2022.

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FAQ

What is the current stock price of TTM Technologies (TTMI)?

The current stock price of TTM Technologies (TTMI) is $24.81 as of December 20, 2024.

What is the market cap of TTM Technologies (TTMI)?

The market cap of TTM Technologies (TTMI) is approximately 2.5B.

What does TTM Technologies Inc specialize in?

TTM Technologies specializes in manufacturing printed circuit boards (PCBs), RF components, RF microwave/microelectronic assemblies, and mission systems.

Where is TTM Technologies Inc based?

TTM Technologies Inc is based in the United States but operates globally with over 30,000 employees.

What are the main segments of TTM Technologies?

The main segments of TTM Technologies are Printed Circuit Boards and RF&S Components.

In which industries are TTM Technologies' products used?

TTM Technologies' products are used in manufacturing, networking, telecommunications, computing, aerospace, and medical fields.

What are the recent financial highlights of TTM Technologies?

In the third quarter of 2023, TTM reported net sales of $572.6 million and a non-GAAP net income of $44.9 million.

What is TTM Technologies' latest project?

TTM is building a new high-tech manufacturing facility in Syracuse, New York, which will bring an estimated 400 new jobs and support ultra-HDI PCB production.

What does 'TTM' in TTM Technologies stand for?

'TTM' stands for 'Time-To-Market,' indicating the company's focus on providing timely and efficient manufacturing solutions.

How does TTM Technologies support national security?

TTM supports national security through the production of high-density interconnect PCBs and advanced RF components used in military systems.

What is the workforce size of TTM Technologies?

TTM Technologies employs over 30,000 individuals globally.

What are TTM Technologies' future financial projections?

For the fourth quarter of 2023, TTM projects revenues between $550 million and $590 million.

TTM Technologies Inc

Nasdaq:TTMI

TTMI Rankings

TTMI Stock Data

2.54B
99.28M
2.42%
102.1%
1.91%
Electronic Components
Printed Circuit Boards
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United States of America
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