Company Overview - TTM Technologies is a leading global supplier of advanced printed circuit boards (PCBs) and RF components, focusing on high-complexity and mission-critical applications [6] - The company leverages scale, engineering expertise, and a diversified product mix to meet demanding customer requirements in technology-driven industries [6] - TTM Technologies serves various sectors, including aerospace and defense, data center computing, automotive, medical, industrial, and instrumentation [8] Financial Performance - As of February 12, 2026, TTM Technologies had a market capitalization of $9.56 billion and revenue of $2.91 billion for the trailing twelve months (TTM) [4] - The company reported a net income of $177.45 million for the TTM [4] - In the fourth quarter, net sales increased by 19% year-over-year to $774.3 million, with non-GAAP EPS reaching a record $0.70 [7] - Full-year 2025 revenue was $2.9 billion, up 19%, while non-GAAP net income rose to $259.0 million, or $2.46 per diluted share [9] Recent Developments - On February 13, 2026, Neo Ivy Capital Management disclosed a new position in TTM Technologies, acquiring 100,879 shares valued at approximately $6.96 million [2] - TTM Technologies shares were priced at $92.33, reflecting a significant increase of 259.82% over the prior year, outperforming the S&P 500 by 246.92 percentage points [7] - The company's adjusted EBITDA margin expanded to 16.3% [9] Market Position and Strategy - TTM Technologies offers a comprehensive portfolio that includes high-density interconnect PCBs, flexible and rigid-flex PCBs, IC substrates, and advanced ceramic RF components [8] - The company generates revenue primarily through the manufacture and sale of advanced PCB and RF products, as well as system integration and custom assembly solutions [8] - Data Center Computing and Networking revenue accounted for 36% of total sales, driven by demand for generative AI [9]

Core Insights - Think Investments LP has initiated a new position in TTM Technologies, acquiring 793,100 shares valued at approximately $45.7 million, indicating strong institutional demand in the semiconductor sector [1][2][3] Company Overview - TTM Technologies, Inc. is a global provider of advanced printed circuit boards (PCBs) and RF components, employing over 16,400 individuals and generating revenue primarily through the manufacture and sale of these products [4][5] - The company reported a total revenue of $2.8 billion and a net income of $131.9 million, with a market capitalization of $7.1 billion [4] Financial Performance - TTM Technologies experienced a 22% year-over-year revenue growth, reaching $752.7 million, with a non-GAAP EPS of $0.67, driven by strong performance in data-center computing and networking markets [8] - Cash flow from operations was robust, accounting for 18.8% of sales, indicating effective conversion of demand into free cash flow [8] Market Position and Strategy - The company serves a diversified customer base, with significant exposure to mission-critical applications in sectors such as aerospace and defense (45%) and data-center computing (23%), positioning it well for structural growth [6][9] - Think Investments' allocation of 6% of its reportable assets to TTM Technologies reflects a high-conviction bet on the company's potential within the semiconductor cycle, particularly in areas benefiting from accelerating electronics demand [7][9] Investment Implications - The recent surge in TTM Technologies' share price, which has increased by 182% over the past year, significantly outpacing the S&P 500's 13% gain, suggests strong market confidence in the company's growth trajectory [3][9] - The key considerations for long-term investors include TTM's ability to sustain growth in core markets and effectively ramp up capacity to meet increasing demand [10]