Seeking Alpha
Editor's notes: Transitory elements have weighed heavy on short-term financials as well as on investors' perceptions. As this transition period ends, TTMI's recent capital investments will reward shareholders markedly.

The recent slide in TTM Technologies (TTMI) the last two months is overdone and presents investors with a much more favorable risk/reward opportunity. Historically, the manufacturer of printed circuit boards was primarily for the defense and aerospace industry but has since expanded into much higher growth industries. However, it is now trading at ridiculous valuation levels given the exposure to those industries and has a significant catalyst coming within the next year. The stock has received zero love over the last year with investors and analysts alike thinking defense spending is going to zero and the aerospace industry is going belly-up while company-specific issues have aided the decline.

After missing estimates in two straight quarters and guidance coming...

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