TTM Technologies Unveils $100 Million Share Buyback Initiative
TTM Technologies Board Approves New Share Buyback Plan
TTM Technologies, Inc. (NASDAQ: TTMI) has made a significant announcement regarding its financial strategy. The company's Board of Directors has authorized a new share repurchase program, enabling the firm to buy back up to $100 million of its common stock. This strategic move is set to take place intermittently until May 7, 2027, following the expiration of the previous two-year repurchase plan on May 3, 2025.
Rationale Behind the Repurchase Program
Dan Boehle, the Executive Vice President and Chief Financial Officer of TTM Technologies, expressed confidence in this decision, emphasizing the company's robust cash flow and strong balance sheet position. He noted, “Given the company’s solid cash flow generation and strong balance sheet, we believe repurchasing shares is a prudent use of capital.” This statement underscores the dual strategy of using free cash flow not only for share repurchase but also for potential strategic acquisitions.
Implementation of the Share Repurchase
The execution of the share repurchase program will be carefully managed by TTM’s executive team. They will consider various elements, including available liquidity and broader market conditions, when determining the timing, manner, price, and amount of shares to repurchase. Transparency is crucial as the company may utilize multiple methods like open market purchases and Rule 10b5-1 plans, all while maintaining authority over the discretion of the execution, which may lead to suspension or discontinuation of repurchases.
The Importance of Shareholder Value
Enhancing shareholder value remains a core objective for TTM Technologies. The introduction of this share buyback initiative is a testament to the firm’s commitment to its investors amid fluctuating market dynamics. It’s a strategic approach to return unexplored value to shareholders while navigating potential growth avenues through acquisitions.
About TTM Technologies
TTM Technologies stands out as a leading global manufacturer of cutting-edge technology solutions. The company specializes in a variety of products, including mission systems and radio frequency components. TTM's focus on quick-turn and technologically advanced printed circuit boards (PCBs) allows their customers to reduce the time it takes to bring new products to market. Their innovative solutions are designed to meet the growing demands of the electronics sector.
Contact Information
For further inquiries or information regarding the share repurchase program, individuals can reach out to:
Sameer Desai,
Senior Director, Corporate Development & Investor Relations
sameer.desai@ttmtech.com
714-327-3050
Frequently Asked Questions
What is the value of the new share repurchase program?
The new program allows TTM Technologies to repurchase up to $100 million of its common stock.
Until when is the share repurchase program authorized?
The authorization for the share repurchase program is until May 7, 2027.
What factors will influence the share repurchase decisions?
Management will consider liquidity, cash flows, and market conditions when making repurchase decisions.
How does the share repurchase program affect shareholders?
The program is designed to enhance shareholder value by returning capital to investors.
Where can I learn more about TTM Technologies?
Additonal information about TTM Technologies can be found on their official website.
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