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.
Griffon Corporation (NYSE:GFF) has agreed to sell Telephonics Corporation to TTM Technologies, Inc. (NASDAQ:TTMI) for $330 million in cash. This transaction aims to enhance long-term shareholder value by strengthening Griffon's balance sheet and refocusing its resources on core businesses. The deal is expected to close in the second calendar quarter of 2022, pending regulatory approvals. Lazard and J.P. Morgan are serving as financial advisors for Griffon and TTM, respectively.
TTM Technologies (NASDAQ: TTMI) announced its agreement to acquire Telephonics Corporation for approximately $330 million in cash from Griffon Corporation. This acquisition aims to enhance TTM's capabilities in the Aerospace and Defense market by expanding its product offerings into engineered system solutions and surveillance communications. Expected benefits include deepening relationships with defense customers and an increase in revenues from the Aerospace and Defense segment, projected to reach 40% of total revenues, or about $1 billion. The deal is anticipated to be immediately accretive to non-GAAP EPS.
TTM Technologies, Inc. (NASDAQ:TTMI) is set to discuss its first quarter fiscal year 2022 performance during a conference call on May 4, 2022, at 4:30 p.m. ET. The company will release its financial results after market close on the same day. Investors can participate by dialing 888-220-8474 or 323-794-2588 for international access. The call will also be available for a week on the company's website. TTM Technologies specializes in advanced printed circuit boards and aims to reduce time-to-market for product development.
TTM Technologies (NASDAQ: TTMI) has enhanced its Xinger® brand by launching new high power couplers tailored for 5G MIMO and O-RAN applications. The new products, covering sub-6GHz 5G bands (1.7GHz – 6.3GHz) include models X4C20J1-03G to X4C55J1-03G, known for their compact size (2mm x 1.6mm) and superior performance with low insertion loss and 5W power handling. This expansion reflects TTM's commitment to meet customer demands for high-performance solutions. The couplers are available through authorized distributors including Richardson RFPD, Digi-Key, and Mouser.
TTM Technologies (NASDAQ: TTMI) announced plans to establish a new, automated printed circuit board (PCB) manufacturing facility in Penang, Malaysia. This initiative responds to customer demands for supply chain resilience and diversification, particularly in advanced multi-layer PCB sourcing. The $130 million investment is expected to yield $180 million in revenue by 2025, with production commencing in 2024. The facility aims to support commercial sectors like networking, medical, and industrial, enhancing TTM's competitive edge outside of China.
TTM Technologies (NASDAQ:TTMI) reported fourth quarter 2021 net sales of $598.1 million, up from $523.8 million in Q4 2020. GAAP net income fell to $8.4 million or $0.08 per diluted share, down from $39 million or $0.34 per diluted share in the previous year. For the full year 2021, net sales increased by 6.8% to $2.25 billion. Non-GAAP net income for 2021 was $138 million, or $1.28 per diluted share. TTM estimates Q1 2022 revenue between $540 million and $580 million with non-GAAP net income ranging from $0.20 to $0.26 per diluted share.
TTM Technologies, Inc. (NASDAQ:TTMI) will host a conference call on February 9, 2022, at 4:30 p.m. ET to discuss its fourth quarter and fiscal year 2021 performance. The call can be accessed by dialing 888-394-8218 or internationally at 323-794-2588, with an ID of 1667874. Financial results will be released after market close on the same day. TTM specializes in manufacturing advanced printed circuit boards and RF components, allowing customers to bring products to market faster. Further details can be found on TTM's website.
TTM Technologies, Inc. (NASDAQ:TTMI), a global leader in printed circuit board and RF components manufacturing, will present at three upcoming investor conferences. The events include the Needham Virtual Growth Conference on January 11, 2022, at 12:30 PM ET, the Cowen Virtual Aerospace/Defense and Industrials Conference on February 10, 2022, at 2:20 PM ET, and the J.P. Morgan Global High Yield and Leveraged Finance Conference in Miami on March 1, 2022, at 2:45 PM ET. All presentations will be accessible via live webcast on TTM's website, with replays available post-event.
TTM Technologies, Inc. (NASDAQ:TTMI), a leader in printed circuit board (PCB) manufacturing, has announced its participation in two virtual investor conferences. The first is the Baird Global Industrial Conference on November 9 at 3:45 PM Eastern Time, followed by the Bank of America Leveraged Finance Conference on November 30 at 3:00 PM Eastern Time. Both presentations will be available via live webcast on the company’s website, with a replay accessible afterward. TTM focuses on advanced PCBs and RF components, enabling customers to expedite product development.
TTM Technologies, Inc. (NASDAQ:TTMI) reported third-quarter 2021 net sales of $556.8 million, up from $513.6 million in Q3 2020. The company achieved a GAAP net income of $21.0 million ($0.19 per diluted share), contrasting with a loss of $61.5 million in the prior year. Non-GAAP net income rose to $36.5 million ($0.34 per diluted share). Adjusted EBITDA was $68.6 million (12.3% of sales). TTM anticipates Q4 revenue between $530 million and $570 million, citing increased costs and potential power rationing as challenges.
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?
