Recent Updates — TTMI

TTM Technologies completed its previously authorized 2025 share repurchase program, having repurchased approximately 1.16 million shares for an aggregate value of $100 million at an average price of $86.31 per share. The Board of Directors simultaneously approved a new $100 million share repurchase program valid through October 27, 2027. TTM Technologies is a global manufacturer of technology products including mission systems, RF components, and interconnect products.

TTM Technologies reported third-quarter net sales of $1.2 billion, a 60% increase year over year, and GAAP diluted earnings per share of $0.79. The company also announced plans to acquire the Ophir Optics business from MKS Inc. for $650 million in an all-cash transaction expected to close after regulatory approvals. Additionally, TTM provided fourth-quarter net sales guidance of $1.42 billion to $1.44 billion and initiated a preliminary 2027 full-year forecast of $6.5 billion to $6.75 billion in net sales. The company operates as a global manufacturer of technology products, including mission systems, radio frequency components, and printed circuit boards.

TTM Technologies has entered into a definitive agreement to purchase the Ophir Optics business from MKS Inc. for approximately $650 million in an all-cash transaction, subject to customary closing adjustments and regulatory approvals. The acquisition adds high-precision infrared thermal imaging and laser optics capabilities to TTM's portfolio, targeting defense, security, and industrial applications. The deal is expected to close in the second quarter of 2027 and is anticipated to be immediately accretive to adjusted EBITDA margin and non-GAAP diluted EPS. TTM plans to fund the transaction using cash on hand, future cash flows, and borrowings under its existing revolving credit facility. TTM Technologies operates as a global manufacturer of technology products, including mission systems, RF components, and advanced interconnects.

TTM Technologies announced a $400 million capital expenditure plan to expand manufacturing capacity at four facilities in China and one in Penang, Malaysia. This investment targets the production of advanced N+M asymmetrical interconnect technology products for artificial intelligence data centers, hyperscalers, and networking customers. The company is utilizing a brownfield expansion approach to rapidly scale PCB production capabilities rather than pursuing greenfield construction. This commitment is incremental to TTM's previously disclosed $1.2 billion investment plan covering the 2025-2029 period. Management cited ongoing discussions with long-standing partners indicating expected demand increases as a key driver for this strategic expansion.

TTM Technologies completed its acquisition of Epiq Solutions for approximately $1.1 billion in cash on September 30, 2026. The transaction was funded through a combination of proceeds from a previously issued offering of 6.750% senior notes due 2034 and new incremental debt facilities consisting of a $300 million Term A loan and an $800 million seven-year Term B loan, both secured by the company's assets. Epiq Solutions is a provider of AI-enabled software-defined radios and high-performance RF products for mission-critical signals intelligence and electronic warfare applications. This acquisition enhances TTM’s Aerospace & Defense portfolio through complementary open-architecture technologies and vertical integration capabilities across land, air, sea, and space domains. Financial contributions from Epiq are expected to be immediately accretive to adjusted EBITDA and non-GAAP diluted EPS by 2028. TTM Technologies is a global manufacturer of mission systems, RF components, microwave assemblies, and advanced interconnect products including PCBs.

TTM Technologies completed a private offering of $500 million in aggregate principal amount of its 6.750% senior notes due October 1, 2034. The notes were priced at par and bear interest payable semi-annually on April 1 and October 1, beginning April 1, 2027. Proceeds will fund the acquisition of EDS Intermediate Holding, LLC, alongside incremental term loans, while also allowing for repayment of borrowings related to the Swiss Technology Group AG acquisition. The indenture restricts dividends and includes a special mandatory redemption clause if the EDS acquisition does not close by November 15, 2026. TTM Technologies manufactures electronic communications and radar systems.