What Happened?
Shares of PCB manufacturer TTM Technologies (NASDAQ: TTMI) fell 6.9% in the afternoon session as investors took profits following the AI-infrastructure rally and focused on the leverage associated with funding its $1.1 billion acquisition of Epiq Solutions, alongside a $500 million notes offering.
According to TipRanks, TTM agreed to buy Epiq Solutions for about $1.1 billion in cash and later completed a private offering of $500 million of 6.750% senior notes due 2034, with proceeds intended — together with $1.1 billion of incremental term loans — to help fund the acquisition and related needs. TipRanks reported that debt and valuation concerns overshadowed the AI narrative after the stock’s recent rally, prompting profit-taking.
Heavier leverage and higher interest costs can weigh on shares when investors worry the balance sheet is absorbing a large deal just as the multiple has already expanded.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy TTM Technologies? Access our full analysis report here, it’s free.
What Is The Market Telling Us
TTM Technologies’s shares are extremely volatile and have had 71 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 7 days ago when the stock gained 6% on the news that activist investor Third Point acquired a new stake in the company and Bank of America established a new position, according to TipRanks. The advance also coincided with a synchronized rally across the electronic component sector, where TTM Technologies outperformed peer companies such as Flex, Sanmina, and IPG Photonics. Separately, Needham analyst James Ricchiuti reiterated a Buy rating on TTM Technologies while lowering the firm’s price target on the stock to $175 from $220.
TTM Technologies is up 71% since the beginning of the year, but at $120.73 per share, it is still trading 45.5% below its 52-week high of $221.47 from June 2026. Investors who bought $1,000 worth of TTM Technologies’s shares 5 years ago would now be looking at an investment worth $9,433.
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