Ichor (NASDAQ:ICHR) Trading Up 7.4% – Here’s Why

Ichor Holdings, Ltd. (NASDAQ:ICHR) was up 7.4% during mid-day trading on Monday . The stock traded as high as $35.19 and last traded at $35.17. Approximately 100,995 shares were traded during trading, a decline of 66% from the average daily volume of 299,787 shares. The stock had previously closed at $32.76.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ICHR shares. DA Davidson assumed coverage on shares of Ichor in a research report on Thursday, September 26th. They set a “buy” rating and a $50.00 price target on the stock. B. Riley reissued a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Ichor in a research report on Tuesday, November 5th. StockNews.com raised shares of Ichor from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Needham & Company LLC dropped their price objective on shares of Ichor from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Oppenheimer assumed coverage on shares of Ichor in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.57.

Ichor Price Performance

The company has a quick ratio of 1.69, a current ratio of 3.64 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $30.17 and its 200 day moving average is $33.01. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -37.82 and a beta of 1.91.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $211.14 million for the quarter, compared to the consensus estimate of $203.24 million. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. On average, equities research analysts anticipate that Ichor Holdings, Ltd. will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ichor

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Ichor by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock valued at $109,743,000 after purchasing an additional 176,970 shares during the last quarter. Millennium Management LLC bought a new position in Ichor in the 2nd quarter valued at approximately $6,382,000. Hood River Capital Management LLC lifted its stake in Ichor by 15.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company’s stock valued at $42,722,000 after purchasing an additional 150,933 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Ichor by 322.6% in the 2nd quarter. Renaissance Technologies LLC now owns 164,400 shares of the technology company’s stock valued at $6,338,000 after purchasing an additional 125,500 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Ichor by 20.8% in the 3rd quarter. Royce & Associates LP now owns 718,967 shares of the technology company’s stock valued at $22,870,000 after purchasing an additional 123,585 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

Ichor Company Profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in the United States and internationally. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices.