Printed circuit board maker TTM Technologies is on the move, literally.
The company says discussions are underway to expand in Europe, along with further growth in China and the U.S., while closer to home, a headquarters move from Santa Ana to Irvine is probably in the cards.
“We are becoming a real global company,” says CEO Edwin Roks, who succeeded the now-retired Thomas Edman in September, who had led the company since 2014.
The rapid growth has been attracting plenty of investor attention. Shares in fast-growing TTM closed at $97.08 on April 1—more than quadruple a year earlier.
At press time, TTM’s market cap of $10 billion makes it one of Orange County’s most valuable public tech firms, ahead of semiconductor company Skyworks Solutions but behind defense tech firm Karman Holdings.
TTM joined the S&P MidCap 400 in January, moving up from the small-cap group.
1.3K Customers, Businesses Growing
The company which moved its headquarters to Santa Ana soon after its founding in 1998 has grown from approximately $50 million in revenues per year to $2.9 billion in 2025.
TTM serves about 1,300 customers in sectors including aerospace, defense, medical and industrial, as well as data centers, networking and automotive.
“All of these businesses, including automotive, are growing,” Roks told the Business Journal on March 24.
The printed circuit boards—used to hold powerful semiconductors in place in nearly all electronic products today—are far more complex than their name indicates.
Some of them can have up to 80 layers and are becoming increasingly sophisticated, with capabilities ranging from modules and subsystems to full-fledged systems. They are ideal for the booming AI infrastructure sector.
The company has also branched out into several other high-tech areas, including radar.
Roks is providing guidance between 15% and 20% growth over the coming three years, as the company builds out production capacity in the U.S., China and Malaysia.
He said the 2025 business was roughly 50-50 between commercial and aerospace and defense, with TTM products integrated into munitions and missiles among other products.
Roks said a move to Irvine is “likely” within the next few months.
The company had about 18,200 employees worldwide as of Dec. 29.
No. 5 Fastest-Growing in OC
TTM ranks No. 5 on the Business Journal’s list of fastest-growing publicly traded companies, in the large firm category.
The company’s fourth-quarter revenue climbed 19% to $774.3 million, while non-GAAP net income jumped 46% to a quarterly record high of $74.8 million.
“We expect to double earnings over two years,” Roks says.
Last year, the adjusted profit was $2.46 a share.
“That will be around $5 in two years from now,” according to Roks.
Meanwhile, further growth is in sharp focus.
Roks said TTM is now putting a lot of capital investments in China and the U.S., including a plant in Wisconsin.
He adds that “soon we will have Europe” with several countries under consideration.
“We have to be the technology leader,” says Roks. “We prioritize innovation.”
Analysts have been generally positive about the company.
William Stein, managing director at Truist Securities in New York, said “the little engine that could chugs along and delivers another beat & raise,” in a note to clients in early February, shortly after fourth-quarter results were released.
Stein raised the TTM price target by $2 to $115 per share at that time.
Google, Hyperscaler Business
Eric Bleeker, writing on investor website 24/7 Wall Street, said TTM could be a “massive winner” from Alphabet’s (Google’s) plans for up to $185 billion in capital expenditures this year.
When asked about the report, Roks replied: “That could be a possibility.”
While he said he could not confirm that possibility, he added:
“We are very holistic. We are not depending on one of these hyperscalers. We basically work with all of them.”
TTM Tech Moving HQ
TTM Technologies will be moving its corporate headquarters from Santa Ana, and Irvine may well be the site of the new offices.
“It will likely be Irvine,” CEO Edwin Roks told the Business Journal on March 24.
He said he expects the move to take place “over the coming months.”
“We are very committed to Orange County,” Roks said. “We have a small management team, and we can make decisions very, very, very fast.”
He said the building housing TTM’s current headquarters is scheduled to be torn down, forcing a move. The current offices measure 14,000 square feet, according to regulatory filings.
“Some of our defense customers by the way are also in Orange County, so that makes it even easier,” he added.
He did not name a possible address in Irvine, and a search for the proper site was still under way as of April 1.
Roks said production will remain at its current Santa Ana facility, measuring 18,000 square feet.
