Needham cuts target for TTM Technologies stock to USD 150

Published on 10/25/2026 at 14:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue reached USD 1.20 billion on October 22, 2026. For TTM Technologies stock, fourth-quarter guidance is USD 1.42 billion to USD 1.44 billion.

Growth and valuation

TTM Technologies agreed to acquire Ophir Optics for USD 650 million on October 19, 2026.
Third-quarter 2026 revenue reached USD 1.20 billion, up 60.0 percent year over year.
TTM Technologies had a market capitalization of USD 8.4 billion as of October 23, 2026.

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TTM Technologies stock faces a lower Needham target after the analyst firm cut its price objective from USD 175.00 to USD 150.00 on October 23, 2026. MarketBeat reported that Needham maintained a Buy rating despite the reduction.

Quarterly growth sets the backdrop

TTM Technologies reported third-quarter 2026 net sales of USD 1.20 billion on October 22, 2026, up 60.0 percent from USD 752.7 million in the third quarter of 2025. GAAP net income rose to USD 84.8 million from USD 53.1 million, while GAAP diluted earnings per share increased to USD 0.79 from USD 0.50. The figures come from TTM Technologies.

The company guided for fourth-quarter 2026 net sales of USD 1.42 billion to USD 1.44 billion and non-GAAP net income of USD 1.77 to USD 1.83 per diluted share. Data Center and Networking represented 41.0 percent of third-quarter sales, while the Aerospace and Defense backlog reached USD 2.0 billion.

Three dated moves shape the story

On October 19, 2026, TTM Technologies agreed to acquire Ophir Optics for USD 650 million in cash, with closing expected in the second quarter of 2027, according to TTM Technologies. On October 22, 2026, the company reported USD 1.20 billion in quarterly sales. On October 23, 2026, Needham cut its target to USD 150.00 from USD 175.00.

What do the targets mean for valuation?

The reductions contrast with TTM Technologies' operating momentum. Investing.com reported that Stifel lowered its target from USD 205.00 to USD 165.00 while keeping a Buy rating. The target cuts point to valuation and execution concerns even as TTM Technologies raised its full-year 2026 sales outlook to USD 4.47 billion to USD 4.49 billion.

Next transaction milestones

TTM Technologies expects its Merlin Circuit Technology and Merlin Flex transactions to close in the fourth quarter of 2026, while the Ophir transaction is expected to close in the second quarter of 2027. The acquisitions add timing and financing milestones to the company's growth plan.

Nasdaq context for investors

TTM Technologies was last at USD 80.11 on Nasdaq on October 23, 2026 at 4:00 p.m. ET. Its market capitalization was USD 8.4 billion on that date, and its 52-week range was USD 55.44 to USD 223.83. The company operates in technology hardware and equipment, producing printed circuit boards, radio-frequency components and related systems. The further course of trading is shown by the continuously updated real-time quote of TTM Technologies stock.