$157.01 Million in Sales Expected for Ichor Holdings, Ltd. (ICHR) This Quarter
Analysts predict that Ichor Holdings, Ltd. (NASDAQ:ICHR) will report sales of $157.01 million for the current quarter, according to Zacks. Two analysts have made estimates for Ichor Holdings’ earnings, with the highest sales estimate coming in at $157.02 million and the lowest estimate coming in at $157.00 million. The company is scheduled to issue its next earnings report on Thursday, August 10th.
On average, analysts expect that Ichor Holdings will report full year sales of $157.01 million for the current fiscal year, with estimates ranging from $580.55 million to $589.00 million. For the next financial year, analysts anticipate that the company will post sales of $652.54 million per share. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Ichor Holdings.
Ichor Holdings (NASDAQ:ICHR) last released its quarterly earnings data on Thursday, May 11th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $148.70 million for the quarter, compared to the consensus estimate of $148.69 million. The firm’s revenue for the quarter was up 102.9% on a year-over-year basis.
A number of brokerages have recently issued reports on ICHR. Cowen and Company boosted their target price on shares of Ichor Holdings from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, May 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a $24.00 price objective (up previously from $20.00) on shares of Ichor Holdings in a research report on Saturday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective (up previously from $21.00) on shares of Ichor Holdings in a research report on Monday, May 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $23.00 price objective on shares of Ichor Holdings in a research report on Friday, April 28th. Finally, Zacks Investment Research cut shares of Ichor Holdings from a “strong-buy” rating to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.83.
In other news, insider Maurice Eugene Carson sold 66,775 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $18.53, for a total value of $1,237,340.75. Following the completion of the transaction, the insider now owns 79,409 shares of the company’s stock, valued at $1,471,448.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dipanjan Deb sold 5,678,782 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $18.53, for a total value of $105,227,830.46. The disclosure for this sale can be found here. Insiders sold 5,924,861 shares of company stock valued at $110,174,566 in the last ninety days.
A number of hedge funds have recently added to or reduced their stakes in the stock. Putnam Investments LLC purchased a new stake in Ichor Holdings during the fourth quarter worth $4,058,000. Empyrean Capital Partners LP purchased a new stake in Ichor Holdings during the fourth quarter worth $3,540,000. Neuberger Berman Group LLC increased its stake in Ichor Holdings by 67.2% in the first quarter. Neuberger Berman Group LLC now owns 768,484 shares of the technology company’s stock worth $15,239,000 after buying an additional 308,937 shares in the last quarter. Spark Investment Management LLC increased its stake in Ichor Holdings by 982.6% in the first quarter. Spark Investment Management LLC now owns 192,700 shares of the technology company’s stock worth $3,821,000 after buying an additional 174,900 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Ichor Holdings during the first quarter worth $2,275,000. 87.16% of the stock is owned by institutional investors and hedge funds.
Ichor Holdings (NASDAQ ICHR) opened at 20.24 on Friday. The company has a market capitalization of $502.07 million and a P/E ratio of 14.99. The stock’s 50 day moving average is $22.90 and its 200-day moving average is $18.18. Ichor Holdings has a 12-month low of $9.81 and a 12-month high of $29.73.
About Ichor Holdings
Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices.
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