TTM Technologies: A Blip on the Radar

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My Aunt Carol, bless her, thinks she has a knack for stocks. She once bought shares in a company that made self-folding laundry, which, as you can imagine, didn’t pan out. So, when she called, practically breathless, about some fund called Metavasi Capital scooping up shares of TTM Technologies, I braced myself. It’s always a story, and usually a cautionary one.

Apparently, Metavasi, a name that sounds suspiciously like a villain from a low-budget sci-fi film, dropped $11.8 million on 171,202 shares of TTM Technologies (TTMI +7.51%). $11.8 million. It’s a sum that feels both incredibly specific and utterly meaningless. Like knowing the exact number of paperclips in the supply closet. They’re now holding 4.81% of the fund’s $245.42 million in U.S. equities. Which means, if my calculations are correct (and they rarely are), that TTM Technologies is roughly equivalent to… well, a lot of paperclips.

Their top holdings, as of December 31st, 2025, read like a particularly dull shopping list: SPHR ($20.74 million), BLND ($19.41 million), APP ($18.82 million). It’s enough to make you yearn for a simple savings account. I looked them up, of course. SPHR seems to be involved in something vaguely pharmaceutical, BLND is…blindly optimistic, perhaps? And APP? An app for what? The sheer number of options is exhausting.

TTM Technologies, it turns out, manufactures printed circuit boards. PCBs. The things that make all our screens light up. And radio frequency components. Which sounds important, but mostly just makes me think of static. They’ve been doing well, apparently. Up 249.1% over the past year, beating the S&P 500 by a frankly ridiculous 231.79 percentage points. Which is impressive, I suppose, but also makes me deeply suspicious. Nothing goes up that much without a catch.

Here’s a handy table of vital statistics, as if numbers will somehow make this all make sense:

Metric Value
Price (as of market close 2/17/26) $90.91
Market Capitalization $9.62 billion
Revenue (TTM) $2.91 billion
Net Income (TTM) $177.45 million

They have over 16,000 employees, which is a lot of people building tiny little boards. They serve aerospace, defense, data centers, automotive, medical, industrial, and instrumentation. Basically, if it has a circuit, TTM Technologies probably had a hand in it. They describe themselves as a “leading global provider of advanced printed circuit boards.” Which is a very polite way of saying “we make the things that make everything else work.”

So, what does Metavasi Capital’s purchase mean for investors? Well, it means Metavasi Capital thinks TTM Technologies is a good bet. They’re bullish, apparently. And, because this is February 2026, and everything is about growth stocks, they’re hoping for a nice little return. They were right, for a time. The stock hit a 52-week high of $111 on Feb. 3. Sales were up 19% year-over-year, and net income jumped from $5.2 million to $50.7 million. Apparently, data centers are hungry for PCBs to power all that artificial intelligence. Which, frankly, is terrifying.

But here’s the thing. As of today, the price-to-earnings ratio is around 64. Sixty-four! That’s…optimistic. It means you’re paying a lot for a little. So, no, now is not the time to buy. Wait for it to drop. Wait for the inevitable correction. Because, in the world of stocks, as in life, what goes up must eventually come down. And I, for one, will be over here, carefully avoiding anything that promises exponential growth.

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2026-02-22 06:13