Cowen and Company Reiterates Outperform Rating for Ichor Holdings, Ltd. (ICHR)
Ichor Holdings, Ltd. (NASDAQ:ICHR)‘s stock had its “outperform” rating restated by equities researchers at Cowen and Company in a report issued on Friday. They presently have a $40.00 price target on the technology company’s stock, up from their previous price target of $38.00. Cowen and Company’s price target indicates a potential upside of 42.96% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on ICHR. Stifel Nicolaus raised their price objective on Ichor Holdings from $26.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $27.00 price objective (up from $26.00) on shares of Ichor Holdings in a report on Wednesday, August 9th. Zacks Investment Research raised Ichor Holdings from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a report on Friday, August 11th. Deutsche Bank AG reissued a “buy” rating and set a $26.00 price objective (up from $24.00) on shares of Ichor Holdings in a report on Wednesday, August 9th. Finally, Needham & Company LLC reissued a “positive” rating and set a $30.00 price objective (up from $25.00) on shares of Ichor Holdings in a report on Monday, July 31st. Six analysts have rated the stock with a buy rating, Ichor Holdings currently has a consensus rating of “Buy” and an average target price of $35.17.
Ichor Holdings (NASDAQ:ICHR) opened at $27.98 on Friday. The firm has a market capitalization of $748.96 and a PE ratio of 13.56. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22. Ichor Holdings has a 1-year low of $9.76 and a 1-year high of $35.51.
Ichor Holdings (NASDAQ:ICHR) last announced its quarterly earnings data on Thursday, November 9th. The technology company reported $0.62 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.62. The company had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $165.16 million. Ichor Holdings had a return on equity of 34.76% and a net margin of 7.43%. Ichor Holdings’s quarterly revenue was up 55.6% on a year-over-year basis. research analysts anticipate that Ichor Holdings will post 2.4 earnings per share for the current year.
In related news, CEO Thomas M. Rohrs sold 130,767 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $19.57, for a total transaction of $2,559,110.19. Following the transaction, the chief executive officer now directly owns 125,558 shares in the company, valued at approximately $2,457,170.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Maurice Eugene Carson sold 17,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $29.37, for a total value of $508,101.00. Following the transaction, the chief financial officer now owns 52,922 shares in the company, valued at $1,554,319.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,059,687 shares of company stock worth $20,436,566. 5.80% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Ichor Holdings during the 3rd quarter worth approximately $107,000. C M Bidwell & Associates Ltd. bought a new position in Ichor Holdings during the 2nd quarter worth approximately $162,000. The Manufacturers Life Insurance Company bought a new position in Ichor Holdings during the 2nd quarter worth approximately $180,000. Royal Bank of Canada grew its position in Ichor Holdings by 38.2% during the 2nd quarter. Royal Bank of Canada now owns 9,400 shares of the technology company’s stock worth $189,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Hancock Holding Co. grew its position in Ichor Holdings by 1.2% during the 2nd quarter. Hancock Holding Co. now owns 10,326 shares of the technology company’s stock worth $208,000 after acquiring an additional 126 shares during the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.
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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