TTM Technologies Stock Surges 250% In a Year, and This Fund Is Betting Nearly $40 Million on More Growth

Park West Asset Management disclosed a new position in TTM Technologies (TTMI 1.07%) in a February 17, 2026, SEC filing, acquiring 543,167 shares during the fourth quarter.

What happened

According to a SEC filing dated February 17, 2026, Park West Asset Management initiated a new position in TTM Technologies, acquiring 543,167 shares. The quarter-end position was valued at $37.48 million.

What else to know

• Top holdings after the filing:
  • NASDAQ:GOOGL: $110.18 million (9.3% of AUM)
  • NASDAQ:Z: $70.61 million (5.9% of AUM)
  • NASDAQ:AMZN: $69.45 million (5.8% of AUM)
  • NASDAQ:FLEX: $59.33 million (5.0% of AUM)
  • NASDAQ:PRCH: $46.11 million (3.9% of AUM)
• As of February 17, 2026, shares of TTM Technologies were priced at $90.91, marking a one-year gain of 250% and vastly outperforming the S&P 500’s roughly 15% gain in the same period.

Company overview

Company snapshot

• TTM Technologies offers a broad portfolio of printed circuit boards (PCBs), RF components, high-density interconnects, flexible and rigid-flex PCBs, IC substrates, and advanced ceramic RF components.
• The firm generates revenue primarily through the manufacture and sale of PCB and RF components, as well as value-added services such as design, simulation, testing, and system integration.
• It serves original equipment manufacturers and electronic manufacturing services companies in sectors including aerospace and defense, data center computing, automotive, medical, industrial, and instrumentation.

TTM Technologies, Inc. is a leading global supplier of advanced printed circuit boards and RF components, with a significant presence in high-growth technology end-markets. The company leverages its scale, engineering expertise, and manufacturing capabilities to deliver complex, high-reliability products to a diverse customer base. Strategic focus on innovation and value-added services positions TTM Technologies to address evolving demands in electronics, particularly within mission-critical and high-performance applications.

What this transaction means for investors

Momentum alone does not justify a 250% one-year gain, but sustained demand might. TTM just delivered 19% fourth-quarter revenue growth to $774.3 million, with non-GAAP EPS of $0.70 and adjusted EBITDA margins expanding to 16.3%. Full-year sales, meanwhile, climbed to $2.9 billion, also up 19%, as generative AI demand boosted data center computing exposure and aerospace and defense remained durable.

That backdrop makes a new $37.5 million position more interesting because it doesn’t seem like this is simply a sleepy balance-sheet filler. The company posted a 1.35 book-to-bill ratio in the quarter and carries a $1.6 billion aerospace and defense backlog, giving some visibility into future revenue.

More broadly, Park West already owns large stakes in mega-cap tech like Alphabet and Amazon, so this adds a more specialized hardware name tied to AI infrastructure rather than consumer platforms. For long-term investors, the question is less about chasing a 250% run and more about whether AI-driven demand and defense exposure can sustain mid-teens growth into 2026. Guidance for 15% to 20% revenue growth suggests management, and perhaps Park West, thinks it can.