On May 27, TTM Technologies fell 7.22% in regular trading, trading at $186.33/share, with trading volume of approximately $151 million, giving back gains accumulated during the prior multi-day rally.
On the news front, the Electronic Manufacturing Services sector saw a broad-based pullback, with Celestica down 3.3%, Jabil Circuit down 3.03%, Fabrinet down 2.34%, Flex Ltd down 1.11%, and TE Connectivity down 0.77%, amplifying selling pressure on individual names. Meanwhile, SEC filings revealed that TTM Technologies has initiated procedures to secure a revolving credit facility of up to $1 billion maturing in 2031, and is repricing and expanding a $400 million term loan due May 2030, raising investor concerns over balance sheet leverage.
The stock had previously rallied sharply from around $178 on May 21 to above $200 on May 26, driven by record Q1 net sales growth of 30% year-over-year and Non-GAAP EPS up 50%. The concentrated profit-taking reflects natural reversion after an extended rebound from a prior 15%+ sector-wide drawdown.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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