TTM shares rose nearly 7% on October 26, 2026, gaining $5.39 to close at $85.50. The rebound followed a 28% decline on October 22, the day the printed circuit board and radio-frequency components manufacturer released its third-quarter results and outlined financing plans for further acquisitions.

TTM shares recover part of the sharp decline

The Nasdaq-listed stock, which trades under the ticker TTMI, recovered only part of its October 22 loss. The October 26 figures reflect the closing price, rather than an intraday observation.

The volatility came against a backdrop of record quarterly sales and an expanding acquisition program. Those developments frame the trading, but the available evidence does not establish a specific catalyst for Monday’s rebound or isolate the contribution of financing concerns to the earlier decline.

Record results show profit and positive operating cash flow

TTM’s third-quarter 2026 results announcement covered the quarter ended September 28. The company reported record net sales of $1.2 billion, up 60% year over year, and GAAP net income of $84.8 million, or $0.79 per diluted share.

Operating cash flow was positive at $154.7 million. Adjusted EBITDA, a non-GAAP measure, reached a quarterly record of $242.3 million, representing 20.1% of sales. These figures show that the financing questions accompanied profitable operations, rather than a quarterly net loss.

Data Center and Networking accounted for 41% of quarterly sales, with TTM citing continued artificial-intelligence demand. Aerospace and Defense represented 34%.

Acquisition plans put leverage in focus

TTM announced plans on October 19 to acquire MKS’s Ophir Optics business for $650 million in cash. Funding is expected to combine cash on hand, future cash flow and borrowings under its existing revolving credit facility; the transaction remained proposed and was excluded from current guidance.

Chief Executive Edwin Roks said net leverage stood at 2.8 times pro-forma adjusted trailing-12-month EBITDA on September 30, following completion of the Epiq Solutions acquisition. He expected leverage to be within TTM’s target range of 1.5 to 2.0 times by the proposed Ophir transaction’s expected closing date. That is a management expectation, not an achieved reduction.

For the fourth quarter of 2026, TTM projected sales of $1.42 billion to $1.44 billion and non-GAAP diluted earnings of $1.77 to $1.83 per share. The outlook included completed STG and Epiq acquisitions and their associated financing costs, but excluded pending deals.

Next milestone

TTM expects its pending acquisitions of Merlin Circuit Technology, Merlin Flex and ILFA to close during the fourth quarter of 2026. Those transactions remain outside current guidance.

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