TTM Technologies, Inc.(NASDAQ: TTMI) stock was initiated by analysts from SunTrust with a Buy rating. The stock rose over 7.5% in the last three months (As of December 14^th, 2017; Source: Google finance). Analysts from Suntrust, William Stein issued a price target of $20. The analysts believe that the firm’s acquisitions contributions made them the world’s third major manufacturer of printed circuit boards, forming a more stable business model. The analyst forecasts that the potential acquisitions would further boost sales growth and boost margins.

The group acquired Anaren for over $775 million in cash from affiliates of Veritas Capital. The group’s strength in the printed circuit board (“PCB”) manufacturing coupled with Anaren’s product portfolio of unique and proprietary radio frequency (“RF”) components and subsystems would enhance their ability for the Aerospace & Defense and Networking/Communication end markets.  This acquisition would place the group to leverage the rising spending towards advanced radar technology in the Aerospace & Defense market and 5G technology in the wireless infrastructure market. The acquisition would also offer new growth opportunity in the industrial, medical and automotive end markets. Anaren is a debt-free firm while the combined entity would generate a pro forma revenues of $2.8 billion and pro-forma adjusted EBITDA of $450 million in the twelve months ended September 30, 2017.

For the third Quarter of 2017, the group reported a Net sales of $666.8 million while the GAAP net income attributable to stockholders reached $21.5 million, or $0.19 per diluted share. The Non-GAAP net income attributable to stockholders reached $33.4 million, or $0.32 per diluted share while delivered an Adjusted EBITDA of $85.7 million. This is the fourth consecutive quarter of year on year organic growth with revenues and operating performance surpassing expectations. Moreover, this is the fastest growth in the third quarter which came from the computing, automotive and the aerospace and defense end markets.  For the fourth quarter of 2017, TTM expects the revenue to be in the range of $700 million to $750 million, while non-GAAP net income attributable to stockholders is forecasted be in the range of $0.49 to $0.55 per diluted share.