In the charming world of high finance, where everyone’s positions are as fragile as a soufflé, Think Investments has just waltzed into the spotlight-dropping a rather handsome $45.7 million on TTM Technologies (TTMI 0.32%) during the third act of the year. Imagine that, a sizable dance card extension at the market’s grand ball, all neatly filed with the SEC on a balmy November afternoon. One might say it’s a sign they’re serious-or simply bored enough to double down on a chip stock surging like a racing peer in Ascot.
What was the fuss about?
Well, darling, Think’s filing reveals they’ve acquired 793,100 shares as if collecting vintage cigarette cards-except these are worth more than a weekend in the Côte d’Azur. As they record, it’s merely normal trading-nothing as gauche as speculation-yet the sheer size hints at a quiet confidence in the company’s future, or perhaps a fondness for its recent performance. Being their twentieth reported position, it’s rather like adding a dashing new hat to an already impeccable wardrobe-subtle but significant.
What’s under the bed?
This new stake accounts for a tidy 6% of Think’s US equities-less a gamble and more a declaration of intent, really. The top holdings? Oh, just a smattering of billion-dollar giants-like Amazon, a sprightly $71.4 million in their cabinet, and a few others-meaning the fund is tactfully diversified, with a penchant for sectors that dazzle and endure. TTM’s market cap is now a stately $7.1 billion, with shares trading at a jaunty $68.29-up an astonishing 182% this past year. One might jest it’s the kind of move that makes the S&P look as dull as last winter’s tea service.
The company’s background-In a nutshell, or perhaps a parfait
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.8 billion |
| Net Income (TTM) | $131.9 million |
| Market Cap | $7.1 billion |
| Share Price (Wednesday close) | $68.29 |
TTM is a veritable global boutique-if, that is, by boutique you mean sprawling empire-dishing out advanced printed circuit boards and RF components with the finesse of a maître d’. Over 16,400 staff, and a portfolio that smacks of complexity-think high-grade PCBs, RF design, rapid prototyping, and enough engineering prowess to make Einstein look amateur. They service the movers and shakers of aerospace, defence, tech, automotive, and medicine-covering all bases like a well-packed charcuterie board. Noisy sectors, yes, but profitable-at least for those who know their way around a multilayer board or two.
So, what’s all the fuss about?
Ah, the foolish charm of the market-where growth stories are spun with a silken thread of optimism. TTM’s recent results are an elegant flourish: a 22% revenue bump to $752.7 million and a record-breaking quarterly EPS of $0.67 amidst a market that’s quite the fickle critic. Driven by the burgeoning data-center universe, AI, and ever-accelerating electronic demands, the company’s cash flow, at 18.8% of sales, is the sort of robust that causes jet engines to hum. It’s as if the company has been caught in a rocket booster, sinewy and sprightly, while others muddle through.
What does this mean for the connoisseur?
If history is any guide, TTM’s diversified end-market appeal-45% to aerospace and defense, 23% to data-center computing-shields it from the cyclical whips and slides of mere fads. Think Investments’ positioning signals a discerning eye turning increasingly toward the structural giants of technology-growth areas that are as inevitable as the tide. With such foresight, the question remains: can TTM sustain its upward ballet, morphing demand into free cash flow as steadily as a well-paced waltz? Or is this just a delightful masquerade?
The parlour room glossary, for the informed and the bored
TTM: The latest twelve months, glittering or otherwise.
13F reportable assets: Fancy word for the stocks that keep the SEC’s gossip column busy quarterly.
Assets under management (AUM): The weight of the portfolio’s handbag, in market value.
Position: How much of a stock you’re secretly or overtly winking at.
Stake: Your ownership in a company, measured in looks, shares, or charm.
Original equipment manufacturers (OEMs): The sort of artisans who make the bits that go into bigger, fancier things.
Printed circuit boards (PCBs): The backstage crew supporting the electronic dance-expensive, intricate, essential.
RF components: The wireless whisperers of contemporary tech-operating invisibly at radio frequencies.
High-density interconnect (HDI) PCBs: Think of these as the Bond Street of circuit boards-compact, sophisticated, with many secrets.
IC substrates: The foundational magic connecting semiconductors to their minuscule kingdoms.
System integration products: The pièce de résistance-a seamless symphony of hardware and software.
Quick-turn prototyping: The speed-dating of manufacturing-short, swift, and designed to impress.
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2025-11-27 22:13