TTM Technologies CEO Thomas T. Edman plans to retire; succession search underway to conclude by 2025.
Quiver AI Summary
TTM Technologies, Inc. announced that Thomas T. Edman, the President and CEO, will retire after the appointment of his successor, a search for whom has already begun and is expected to conclude by the end of 2025. Edman has been with TTM as a Director since 2004, and he has significantly led the company through a transformative period since becoming President in 2013 and CEO in 2014. Under his leadership, TTM advanced its manufacturing capabilities, particularly in the Aerospace and Defense sectors, and positioned itself as a leader in advanced electronics solutions. The company is experiencing strong growth and improved financial performance, and Edman will continue to support TTM as a Director after his retirement. A conference call will be held to discuss the second quarter earnings and the leadership transition.
Potential Positives
- TTM Technologies is executing a planned leadership transition, which indicates stability and foresight in their succession planning.
- Mr. Edman has led the company through a transformative period of strategic growth and operational excellence, enhancing its market position and capabilities.
- The company is experiencing record revenue growth and margins, indicating strong financial performance and operational success.
- TTM has broadened its focus on high-growth markets such as Aerospace, Defense, and Data Center Computing, positioning itself as a leader in advanced electronics solutions.
Potential Negatives
- Mr. Edman's upcoming retirement may lead to uncertainty in leadership and strategic direction, especially given his long tenure and pivotal role in the company's growth.
- The announcement of a CEO search could raise concerns among investors regarding the continuity of the company's successful strategies and operations.
- Potential risks related to the succession process could impact employee morale and stakeholder confidence during the transition period.
FAQ
What is the reason for Thomas T. Edman's retirement?
Thomas T. Edman plans to retire as President and CEO following the appointment of his successor, aligning with succession planning discussions.
When will TTM Technologies appoint a new CEO?
The search for Mr. Edman's successor is expected to conclude before the end of 2025.
How long has Thomas T. Edman been with TTM Technologies?
Mr. Edman has served as a Director since 2004, President since 2013, and CEO since 2014.
What markets has TTM Technologies focused on under Edman's leadership?
Under Edman's leadership, TTM has focused on Aerospace and Defense, Data Center Computing, and generative AI applications.
Where can I find information about the upcoming investor call?
Information about the investor call is available by registering through the conference call link provided in the press release.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TTMI Insider Trading Activity
$TTMI insiders have traded $TTMI stock on the open market 18 times in the past 6 months. Of those trades, 0 have been purchases and 18 have been sales.
Here’s a breakdown of recent trading of $TTMI stock by insiders over the last 6 months:
- PHILIP TITTERTON (EVP & COO) has made 0 purchases and 2 sales selling 48,278 shares for an estimated $1,488,263.
- DALE MARTIN KNECHT (SVP Information Technology) has made 0 purchases and 6 sales selling 33,446 shares for an estimated $1,110,518.
- DANIEL J WEBER (EVP, General Counsel) has made 0 purchases and 2 sales selling 35,170 shares for an estimated $990,313.
- DOUGLAS L SODER (EVP, President) has made 0 purchases and 2 sales selling 25,000 shares for an estimated $750,000.
- TOM CLAPPROOD (See remarks.) sold 10,000 shares for an estimated $294,987
- CATHERINE A GRIDLEY (EVP, A&D Sector President) has made 0 purchases and 2 sales selling 10,000 shares for an estimated $257,661.
- STEVEN SPOTO (See Remarks) sold 500 shares for an estimated $12,160
- ROBERT P. FARRELL (President C&C) sold 460 shares for an estimated $12,111
- TONY SANCHEZ (VP, Corporate Controller) sold 189 shares for an estimated $4,524
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TTMI Hedge Fund Activity
We have seen 130 institutional investors add shares of $TTMI stock to their portfolio, and 130 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- THRIVENT FINANCIAL FOR LUTHERANS removed 2,945,304 shares (-53.6%) from their portfolio in Q1 2025, for an estimated $60,408,185
- BANK OF AMERICA CORP /DE/ added 807,691 shares (+271.9%) to their portfolio in Q1 2025, for an estimated $16,565,742
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 769,273 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $15,777,789
- BLACKROCK, INC. removed 651,660 shares (-3.6%) from their portfolio in Q1 2025, for an estimated $13,365,546
- ALLIANCEBERNSTEIN L.P. removed 538,699 shares (-36.4%) from their portfolio in Q1 2025, for an estimated $11,048,716
- HOOD RIVER CAPITAL MANAGEMENT LLC added 498,116 shares (+81.0%) to their portfolio in Q1 2025, for an estimated $10,216,359
- AMERIPRISE FINANCIAL INC added 474,775 shares (+205.0%) to their portfolio in Q1 2025, for an estimated $9,737,635
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$TTMI Analyst Ratings
Wall Street analysts have issued reports on $TTMI in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- B. Riley Securities issued a "Buy" rating on 07/17/2025
- Needham issued a "Buy" rating on 06/20/2025
- Stifel issued a "Buy" rating on 06/16/2025
- Truist Securities issued a "Buy" rating on 06/09/2025
To track analyst ratings and price targets for $TTMI, check out Quiver Quantitative's $TTMI forecast page.
$TTMI Price Targets
Multiple analysts have issued price targets for $TTMI recently. We have seen 4 analysts offer price targets for $TTMI in the last 6 months, with a median target of $45.5.
Here are some recent targets:
- Mike Crawford from B. Riley Securities set a target price of $50.0 on 07/17/2025
- William Stein from Truist Securities set a target price of $48.0 on 07/07/2025
- James Ricchiuti from Needham set a target price of $43.0 on 06/20/2025
- Ruben Roy from Stifel set a target price of $40.0 on 06/16/2025
Full Release
SANTA ANA, Calif., July 30, 2025 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ: TTMI), a leading global manufacturer of technology solutions including mission systems, radio frequency (“RF”) components and RF microwave/microelectronic assemblies, quick-turn and technologically advanced printed circuit boards (“PCB”), today announced that Thomas T. Edman, the company’s President and Chief Executive Officer, intends to retire following the appointment of the company’s next President and CEO. The Board of Directors has begun a search for Mr. Edman’s successor, which is expected to conclude before the end of 2025. Mr. Edman will remain as the company’s President and CEO until a successor is named and will continue to serve as a Director of the company and a member of its Government Security Committee following the appointment of a new CEO. These decisions were made in line with the CEO’s succession planning discussions with the Board of Directors over the past few years.
Mr. Edman has served as a Director of the company since 2004, President since 2013, and CEO since 2014, leading TTM through a transformative period of strategic growth, operational excellence and significant financial improvement. Under his leadership, the company reshaped its global manufacturing footprint, significantly strengthened its capabilities for the Aerospace and Defense market, broadened its focus in the Data Center Computing and Networking end markets supporting generative AI, and enhanced its position as a trusted partner to leading technology and industrial companies worldwide.
“After over a decade of leading this incredible organization, I have decided the time is right to step aside,” said Mr. Edman. “It has been the honor of my career to work alongside the talented and dedicated employees of TTM Technologies. I am confident in the company’s future and its ability to continue driving innovation and operational excellence while delivering long-term value to all stakeholders.”
Mr. Edman’s tenure included several key milestones, including the successful integration of multiple acquisitions, divestitures, diversification of the company’s end markets, differentiation of the company’s products, and enhanced focus on high-growth markets such as Aerospace and Defense and Data Center Computing for generative AI applications. His efforts have positioned TTM as a global leader in advanced electronics solutions. To that end, TTM is currently having the strongest first half of any year in its history for revenue growth and margins combined with a solid balance sheet to support projected future growth.
“On behalf of the Board and the entire TTM family, I want to thank Tom for his visionary leadership and tireless commitment,” said Rex Geveden, Chairman of the Board. “Tom has guided the company through pivotal industry changes and leaves a legacy of strategic discipline and innovation that will continue to shape TTM for years to come.”
The company will hold a webcast and investor call on Wednesday, July 30 th at 4:30pm ET/1:30pm PT to discuss its second quarter earnings announcement and this leadership succession plan.
Access to the conference call is available by clicking on the registration link TTM Technologies, Inc. second quarter 2025 conference call . Registering participants will receive dial in information and a unique PIN to join the call. Participants can register at any time up to the start of the conference call. The conference call will also be simulcast on the company’s website, and can be accessed by clicking on the link TTM Technologies Inc. second quarter 2025 webcast . The webcast will remain accessible for one week following the live event.
About TTM
TTM Technologies, Inc. is a leading global manufacturer of technology solutions, including mission systems, RF components, RF microwave/microelectronic assemblies, and quick-turn and technologically advanced PCBs. TTM stands for time-to-market, representing how TTM's time-critical, one-stop design, engineering and manufacturing services enable customers to reduce the time required to develop new products and bring them to market. Additional information can be found at
www.ttm.com
.
Forward-Looking Statements
This release contains forward-looking statements that relate to future events or performance. TTM cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect TTM’s current expectations, and TTM does not undertake to update or revise these forward looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other TTM statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond TTM’s control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, general market and economic conditions, including interest rates, currency exchange rates and consumer spending, demand for TTM’s products, market pressures on prices of TTM’s products, warranty claims, changes in product mix, contemplated significant capital expenditures and related financing requirements, TTM’s dependence upon a small number of customers and other factors set forth in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of TTM’s public reports filed with the SEC.
Contact:
Sameer Desai,
Vice President, Corporate Development & Investor Relations
TTM Technologies, Inc.
[email protected]
714-327-3050
Winnie Ng
Vice President, Corporate Marketing
TTM Technologies, Inc.
+852 2660 4287 / +1 714 327 3000
[email protected]