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SANTA ANA - TTM Technologies, Inc. (NASDAQ:TTMI), whose stock has surged over 113% in the past year and currently trades near its 52-week high of $45, has acquired a 750,000-square-foot manufacturing facility in Eau Claire, Wisconsin, and secured land rights for a future production site in Penang, Malaysia, the company announced Wednesday. According to InvestingPro data, TTM maintains a strong financial position with a current ratio of 2.07, indicating robust liquidity to support its expansion plans.
The Wisconsin facility, previously owned and operated by TDK for disk drive production, comes with existing infrastructure to support advanced technology printed circuit board (PCB) manufacturing. This acquisition will allow TTM to accelerate its timeline for bringing new U.S. domestic capacity online. With annual revenue of $2.52 billion and a market capitalization of $4.33 billion, TTM has demonstrated its capability to execute significant expansion initiatives. For deeper insights into TTM’s growth strategy and financial metrics, investors can access the comprehensive Pro Research Report available on InvestingPro.
"The Eau Claire facility represents a critical leap forward in TTM’s ability to support customers requiring high volume, advanced technology U.S. PCB manufacturing," said Tom Edman, President and CEO of TTM Technologies, in a press release statement.
The facility will enhance TTM’s capabilities to support high-volume production of advanced technology PCBs for key markets, particularly data center computing and networking for generative AI applications.
Wisconsin Economic Development Corporation Secretary and CEO Missy Hughes welcomed the expansion, noting that the facility is "ready-made for TTM to strengthen its domestic customer relationships and grow quickly to produce critical electronic components."
In Malaysia, TTM has acquired rights to ten acres in Penang for a future manufacturing site. This expansion aligns with customer interests in diversifying supply chains beyond China. The planned Penang facility will be located near TTM’s existing operations and is expected to serve similar commercial markets including data center computing, networking, medical, industrial, and instrumentation.
TTM does not expect these investments to significantly impact its financial results for 2025, according to the company’s statement.
TTM Technologies manufactures technology solutions including mission systems, radio frequency components, RF microwave/microelectronic assemblies, and printed circuit boards.
In other recent news, TTM Technologies announced a new share repurchase program, authorizing the buyback of up to $100 million of its common stock, effective immediately and extending through May 7, 2027. This move, highlighted by the company’s management, aims to enhance shareholder value by leveraging TTM’s strong cash flow and balance sheet. Additionally, several research firms have adjusted their price targets for TTM Technologies. Needham raised its price target to $43, citing favorable earnings reports and a strong outlook for the company’s defense business. Stifel increased its price target to $40, noting strength in the aerospace and defense segments and growth in the networking business. Truist Securities also raised its price target to $41, driven by growth prospects in AI technologies and production at the Penang site. These developments reflect a positive outlook from analysts, who maintain a Buy rating on the stock.
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