【US Stock Movement】TTM Technologies plummets on October 22: Acquisition financing pressure and rising debt

TTM Technologies October 22 Decline Analysis

Keywords: Merger and acquisition financing pressure, rising debt

On October 22, the company disclosed that as of the end of September, its long-term debt had increased to $1.46 billion and its short-term debt had risen to $184 million. On October 19, the company also agreed to acquire Ophir Optics for $650 million in cash, with funding intended to come from cash, future cash flow, and revolving credit loans, increasing financing pressure. Although third-quarter revenue and adjusted earnings per share exceeded expectations, the fourth-quarter guidance was roughly in line with expectations and failed to quell concerns about debt and funding for acquisitions.

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