Nomura Small Cap Value Fund on TTM Technologies Inc.
Thesis
TTM Technologies manufactures advanced printed circuit boards and radio-frequency components and assemblies. The company reported record quarterly revenue and profits, supported by strong demand from aerospace and defense and data center computing customers. The fund trimmed the position to maintain its portfolio weight rather than because of a change in the thesis. It retained the shares because it continues to view the company's prospects positively.
“it remains in the portfolio as we believe the company’s prospects remain positive.”