What Happened?
Shares of PCB manufacturing company TTM Technologies (NASDAQ:TTMI) jumped 2% in the afternoon session after investors took notice of the company's accelerating financial performance and strong growth metrics. The company's earnings results showed notable speed increases over recent periods. Quarterly earnings per share (EPS) growth accelerated to 63.4% in the most recent quarter. This built on a trend of strong gains in the preceding periods. Trailing twelve-month EPS growth stood at 54.6%, which greatly outpaced the company's past results. Revenue growth also picked up, reaching 22.1% in the latest quarter, a significant jump from 14.4% three quarters before.
After the initial pop the shares cooled down to $64.48, up 1.8% from previous close.
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What Is The Market Telling Us
TTM Technologies’s shares are extremely volatile and have had 30 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 6 days ago when the stock dropped 10% on the news that investors continued to question how much more the superstar stocks can add to their already spectacular gains.
The main story? Investors are cashing in on a good run and feeling a bit cautious. After a fantastic run, many of those high-flying AI and technology stocks saw investors take profits: selling shares to lock in their gains. This is often called a "market rotation." Money is moving out of the red-hot tech sector (which some worry has become too expensive) and into other parts of the market that investors may currently deem more stable or reasonably-priced. There's a secondary reason for the cautious mood: The long government shutdown came to an end. Though it's typically interpreted as good news, it also means a flood of delayed economic reports will be released. For weeks, investors were "flying blind" without key updates on the economy's health, like inflation data and the jobs report. In typical "sell the news" fashion, investors may also be taking profits and selling in anticipation that the new data would potentially give the Federal Reserve reasons to slow or even pause future rate cuts.
TTM Technologies is up 162% since the beginning of the year, and at $64.48 per share, it is trading close to its 52-week high of $70.50 from November 2025. Investors who bought $1,000 worth of TTM Technologies’s shares 5 years ago would now be looking at an investment worth $5,069.
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