US PCB Leader Sees Market Cap Surge to $1.6 Billion Amid Defense and AI Tailwinds

TTM Technologies, Inc. (NASDAQ: TTMI), a U.S. supplier of printed circuit boards and defense electronics, saw its shares surge more than 5% on the Nasdaq to close at $199.98, lifting its market capitalization to roughly $20.8 billion. In a single session, market cap rose by about $1.16 billion on trading volume exceeding 2.43 million shares.

In its first-quarter 2026 results announced April 29, the company reported revenue of $846 million and earnings per share of $0.75, topping analysts’ consensus of $0.66. With a defense order backlog of approximately $1.6 billion, TTM’s growth story has gained traction. Ahead of its Investor Day on May 27, 2026, at the New York Nasdaq, firms including Stifel have issued buy ratings and set target prices near $175, fueling expectations of further upside.

TTM Technologies is a leading U.S. PCB manufacturer, supplying high-layer-count printed circuit boards, RF and microwave modules, and mission systems for aerospace and defense, data centers and networking, automotive, medical, and industrial equipment markets. A substantial portion of its revenue derives from U.S. defense programs and investments in high-performance computing and AI infrastructure, making the company sensitive to U.S. government spending and the investment cycle for server and network equipment.