TTM Technologies Burns Through $100 Million Buyback in Two Days, Authorizes Another

TTM Technologies used up its entire previous buyback authorization in just two trading days and then had its board approve a fresh $100 million program, according to an 8-K the printed circuit board and defense electronics maker filed Wednesday.

The Santa Ana, California, company said it completed the share repurchase program first announced on May 8, 2025. It bought back about 1.16 million shares with cash on hand, all on Oct. 26 and Oct. 27, 2026, at an average price of $86.31 a share including commissions, for a total of about $100 million.

A new authorization

Also on Oct. 27, the board authorized a new share repurchase program allowing TTM to buy back up to $100 million of its common stock from time to time through Oct. 27, 2027. The company said the timing, manner, price and amount of any purchases will be at its discretion.

The completed purchases were made in the open market under the safe harbor provisions of Rule 10b-18, according to the release.

Management's message

"Our repurchases under our 2025 Share Repurchase Program underscore our confidence in TTM's growth strategy, including the anticipated growth from the ramp in sales of the Company's N+M products," President and CEO Edwin Roks said.

Why it matters

The pace stands out. Rather than spreading purchases out over many months, as companies often do, TTM deployed the full $100 million in a concentrated burst across two days. Pairing that with an immediate replacement authorization signals management's view that the stock is an attractive use of cash.

TTM makes mission systems, radio frequency components and microwave assemblies for aerospace and defense customers, along with technologically advanced interconnect products, including printed circuit boards and substrates, according to the company.

Sources

1. TTM Technologies Form 8-K announcing completion of its 2025 repurchase program and a new $100 million authorization (Exhibit 99.1), filed Oct. 28, 2026 (accession 0001193125-26-434993)

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