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James Ricchiuti from Needham reiterated a Buy rating on TTM Technologies with a $56.00 price target due to the leadership transition, specifically the appointment of Edwin Roks as President and CEO. Ricchiuti sees Roks' experience in commercial and aerospace/defense sectors, as well as his strategic vision, as a positive move to drive the company forward and enhance operational efficiency.

TTM Technologies, Inc. (TTMI) has appointed Edwin Roks as its new President and Chief Executive Officer, effective September 2, 2025. Roks succeeds Thomas Edman, who will become an advisor to the Chairman to assist with the CEO transition until the start of next year. Edman will continue to serve on the board and the Government Security Committee beyond that date.

Edman had been the CEO of TTM Technologies since 2014 and the President since 2013. He was responsible for the company's diversified end markets and manufacturing footprint, which helped minimize tariff impacts and support top-line growth. Edman's retirement announcement was made during the company's second quarter earnings call, which saw revenue, non-GAAP profit, and adjusted EBITDA surpass Wall Street expectations [2].

Edwin Roks brings extensive experience in the aerospace and defense, and industrial electronics industries. He most recently served as CEO of Teledyne Technologies Inc. until April 2025. Prior to that, he held various executive positions at Teledyne, including Executive Vice President and President of Teledyne Digital Imaging, President of Teledyne DALSA Inc., and Vice President and Chief Technology Officer of Teledyne Technologies. Roks joined Teledyne with the acquisition of DALSA Inc. in 2011 [4].

Analysts have reacted positively to the appointment. James Ricchiuti from Needham reiterated a Buy rating on TTM Technologies with a $56.00 price target. Ricchiuti sees Roks' experience in the commercial and aerospace/defense sectors, as well as his strategic vision, as a positive move to drive the company forward and enhance operational efficiency [1].

Roks will receive an annual base salary of $1 million and an annual bonus with a target of 125% of his salary. He will also join the board of directors as a Class II director, effective September 2, 2025 [1].

The appointment of Roks comes at a time when TTM Technologies is expanding its operations, with plans to acquire a facility in Wisconsin and land in Penang. The company has also launched the MSK5065RH - a compact, radiation-hardened switching regulator for high-reliability applications [3].

The upcoming quarters will be crucial for TTM Technologies, with analysts watching for evidence of customer commitments that trigger investment in new U.S. production capacity, progress toward breakeven and yield improvements at the Penang facility, and further growth in aerospace and defense program backlogs [2].

References:

[1] https://www.marketwatch.com/story/ttm-technologies-names-edwin-roks-president-ceo-ccaeed8e
[2] https://finance.yahoo.com/news/5-revealing-analyst-questions-ttm-034255007.html
[3] https://www.marketscreener.com/news/ttm-technologies-names-edwin-roks-ceo-ce7c51d9db8df026
[4] https://www.nasdaq.com/articles/ttm-technologies-appoints-edwin-roks-president-and-ceo