Key Points
Park West Asset Management added 543,167 shares in TTM Technologies during the fourth quarter.
The quarter-end position value increased by $37.48 million and marked a new stake for Park West.
The TTM Technologies position represents 3.1% of fund AUM, which places it outside the fund's top five holdings.
Park West Asset Management disclosed a new position in TTM Technologies(NASDAQ:TTMI) 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
| Metric | Value |
|---|---|
| Price (as of market close February 17, 2026) | $90.91 |
| Market Capitalization | $10 billion |
| Revenue (TTM) | $2.91 billion |
| Net Income (TTM) | $177.45 million |
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.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, and Zillow Group. The Motley Fool recommends Flex. The Motley Fool has a disclosure policy.
