SCHEDULE 13G/A: BlackRock Amends TTM Technologies Stake, Discloses 15.2% Beneficial Ownership
Beneficial Ownership Report (Schedule 13G Amendment)
BlackRock, Inc. has filed an amendment to its Schedule 13G, revealing a 15.2% beneficial ownership stake in TTM Technologies Inc. as of March 31, 2025.
Summary
- BlackRock, Inc. has filed Amendment No. 12 to its Schedule 13G regarding its beneficial ownership in TTM Technologies Inc.
- As of March 31, 2025, BlackRock, Inc. beneficially owns an aggregate of 15,413,648 shares of TTM Technologies Inc. Common Stock.
- This aggregate amount represents 15.2% of the class of securities.
- BlackRock holds sole voting power over 15,211,351 shares and sole dispositive power over 15,413,648 shares.
- No shared voting or dispositive power is reported.
- The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
- iShares Core S&P Small-Cap ETF, a BlackRock entity, is noted to have an interest of more than five percent of the total outstanding common stock.
- BlackRock Fund Advisors, another BlackRock entity, is also identified as beneficially owning 5% or greater of the outstanding shares.
Sentiment
Score: 5
Explanation: The document is a factual report of beneficial ownership and does not contain information that would inherently convey positive or negative sentiment regarding the issuer's performance or outlook. It is a routine regulatory disclosure.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
NA
Management Comments
- "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."
Industry Context
This Schedule 13G filing indicates a significant passive investment by BlackRock, one of the world's largest asset managers, in TTM Technologies Inc. Such filings are standard disclosures for institutional investors holding more than 5% of a company's outstanding shares, signaling a substantial, non-controlling stake. This type of filing is common for large index funds or passively managed portfolios.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact (BlackRock, Inc.) | NA (previous Power of Attorney revoked) | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | New Power of Attorney issued, revoking a prior one dated April 30, 2023, to authorize specific individuals to execute SEC filings on behalf of BlackRock, Inc. and its subsidiaries/affiliates. This change pertains to BlackRock's internal governance for filing purposes, not TTM Technologies Inc.'s management. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Internal Authorization Policy | BlackRock, Inc. updated its Power of Attorney, effective January 21, 2025, designating a new set of individuals as attorneys-in-fact for executing various ownership and control-person reporting requirements with regulatory authorities. This revokes a previous Power of Attorney from April 30, 2023. | 2025-01-21 | This change streamlines BlackRock's internal process for regulatory filings, ensuring authorized personnel can act on its behalf. It does not directly impact the corporate governance of TTM Technologies Inc. |
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional holding by BlackRock may be viewed positively by some investors as a vote of confidence, while others may note the potential for large block trades if BlackRock were to significantly alter its position.
- Investment Professionals: Provides transparency into the ownership structure of TTM Technologies Inc., aiding in market analysis and understanding institutional investor sentiment.
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Date of the previously revoked Power of Attorney. |
| 2025-01-21 | Date of the new Power of Attorney executed by BlackRock, Inc. |
| 2025-03-31 | Date of event which requires the filing of this statement (beneficial ownership snapshot date). |
| 2025-04-28 | Date the Schedule 13G Amendment No. 12 was signed by BlackRock, Inc. |
Keywords
BlackRock, TTM Technologies, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Investment Management, Passive Investment
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