US Markets
Home›US Markets›Equities›TTM Technologies gains as AI demand drives record quar…
TTM Technologies gains as AI demand drives record quarterly sales
The company reported Q2 sales of $1.0 billion, up 37% year over year, and said its Data Center and Networking unit drove 40% of revenue and grew 91% in the quarter.
According to Yahoo Finance, growth investors Stephen Mandel’s Lone Pine Capital and Alex Sacerdote’s Whale Rock Capital increased disclosed stakes in TTM Technologies, an AI infrastructure supplier for printed circuit boards and RF components. Lone Pine disclosed a 2.74 million-share position worth about $512 million as of June 30, while Whale Rock increased its stake by about 20% to 4.23 million shares, worth roughly $791 million, at quarter end.
The report ties TTM’s stock to accelerating AI demand translating into revenue growth. On August 5, the company said second-quarter sales reached a record $1.0 billion, up 37% year over year, with Data Center and Networking generating 40% of revenue and growing 91%, supported by continued AI infrastructure demand.
Management also pointed to segment momentum, expecting Data Center and Networking to account for 49% of third-quarter sales and to more than double for full-year 2026. TTM posted a Q2 book-to-bill ratio of 1.49, indicating orders running ahead of shipments, and its stock closed August 21 at $110.54, down about 21% over five trading days and roughly half from its June peak.
The investor focus comes as the shares have retraced from earlier AI-driven expectations, with the stock trading around 23 times 2026 adjusted EPS consensus of $4.85, and about 16 times next year’s implied earnings on 2027 adjusted EPS consensus of roughly $6.89. The report notes a key risk would be any wider slowdown in AI infrastructure spending, given the segment’s growing weight in the business.