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TTM (TTMI) Soars 7.5%: Is Further Upside Left in the Stock?
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TTM Technologies (TTMI - Free Report) shares soared 7.5% in the last trading session to close at $35.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.7% gain over the past four weeks.
TTM Technologies is benefiting from strong demand in aerospace and defense, data center computing driven by generative AI, and networking markets coupled with a diversified manufacturing footprint.
This printed circuit board maker is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $667.99 million, up 10.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For TTM, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TTMI going forward to see if this recent jump can turn into more strength down the road.
TTM is part of the Zacks Electronics - Miscellaneous Components industry. TE Connectivity (TEL - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $166. TEL has returned 7.7% in the past month.
For TE Connectivity, the consensus EPS estimate for the upcoming report has changed -0.1% over the past month to $2.07. This represents a change of +8.4% from what the company reported a year ago. TE Connectivity currently has a Zacks Rank of #3 (Hold).
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TTM (TTMI) Soars 7.5%: Is Further Upside Left in the Stock?
TTM Technologies (TTMI - Free Report) shares soared 7.5% in the last trading session to close at $35.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.7% gain over the past four weeks.
TTM Technologies is benefiting from strong demand in aerospace and defense, data center computing driven by generative AI, and networking markets coupled with a diversified manufacturing footprint.
This printed circuit board maker is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $667.99 million, up 10.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For TTM, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TTMI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TTM is part of the Zacks Electronics - Miscellaneous Components industry. TE Connectivity (TEL - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $166. TEL has returned 7.7% in the past month.
For TE Connectivity, the consensus EPS estimate for the upcoming report has changed -0.1% over the past month to $2.07. This represents a change of +8.4% from what the company reported a year ago. TE Connectivity currently has a Zacks Rank of #3 (Hold).