Billionaire Activist Dan Loeb Made a Bet on This AI Supplier — Here's What Sets It Apart From the Crowd
Billionaire activist investor Dan Loeb ‘s Third Point LLC opened a new $94.4 million stake in California-based manufacturer of critical electronic components TTM Technologies Inc. (NASDAQ: TTMI ) in the second quarter. A Bet Beyond the Chipmakers TTM does not design chips. It manufactures printed circuit boards, radio frequency components and mission systems. These are the physical components that connect and house semiconductors inside data centers, aerospace systems and defense electronics. According to Third Point’s 13F filing, a quarterly report of its investment holdings that must be submitted to the Securities and Exchange Commission within 45 days of the end of each quarter, the firm bought 505,000 shares of TTM during the second quarter ending June 30. The stake adds a new name to a broader pattern in Third Point’s portfolio. The fund has also built a four-stock basket this year in bitcoin miners repurposing their data centers for AI computing, including Hut 8 Corp. (NASDAQ: HUT ), Riot Platforms Inc. (NASDAQ: RIOT ) and Core Scientific Inc. (NASDAQ: CORZ ). TTM gives the portfolio exposure to another part of the AI infrastructure supply chain, through printed circuit board
4 million stake in California-based manufacturer of critical electronic components TTM Technologies Inc. (NASDAQ: TTMI ) in the second quarter. A Bet Beyond the Chipmakers TTM does not design chips. It manufactures printed circuit boards, radio frequency components and mission systems.
These are the physical components that connect and house semiconductors inside data centers, aerospace systems and defense electronics. According to Third Point’s 13F filing, a quarterly report of its investment holdings that must be submitted to the Securities and Exchange Commission within 45 days of the end of each quarter, the firm bought 505,000 shares of TTM during the second quarter ending June 30. The stake adds a new name to a broader pattern in Third Point’s portfolio. The fund has also built a four-stock basket this year in bitcoin miners repurposing their data centers for AI computing, including Hut 8 Corp.
(NASDAQ: HUT ), Riot Platforms Inc. (NASDAQ: RIOT ) and Core Scientific Inc. (NASDAQ: CORZ ). TTM gives the portfolio exposure to another part of the AI infrastructure supply chain, through printed circuit boards, RF components and other electronics manufacturing.
Read Also: Billionaire Activist Investor Dan Loeb’s Anti-Buffett Trade — Third Point Buys This Stock as Berkshire Hathaway Slashes Its Major Stake Record Revenue, AI-Driven Growth Third Point’s timing lines up with a breakout quarter. TTM posted second-quarter results that beat analyst expectations. 05%. 4% year-over-year.
61%. The increase was driven in part by strong demand in TTM’s Data Center and Networking end market, which accounted for 40% of second-quarter sales and grew 91% year over year as customers continued building AI data centers. The increase was driven primarily by continued strong demand in its data center and networking end market, fueled by AI data-center buildouts. 8 million a year earlier.
00. The company’s order book also shows that demand remains strong. 49 for the quarter. 7 billion.
12. 42% over the past six months. 70% over the past month. 68%, according to Pro data.
28, Edge Stock Rankings show that TTM Technologies stock is experiencing long-term upward movement, along with medium- and short-term consolidation. See More: Top Value Stocks Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. Photo courtesy: Shutterstock