Ichor (NASDAQ:ICHR) Shares Gap Down on Analyst Downgrade

Ichor Holdings, Ltd. (NASDAQ:ICHR) shares gapped down before the market opened on Wednesday after Craig Hallum lowered their price target on the stock from $55.00 to $50.00. The stock had previously closed at $38.96, but opened at $36.34. Craig Hallum currently has a buy rating on the stock. Ichor shares last traded at $35.33, with a volume of 88,787 shares traded.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Ichor from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. B. Riley upgraded shares of Ichor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $48.00 in a report on Friday, April 19th. TD Cowen raised their target price on shares of Ichor from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $42.00 target price on shares of Ichor in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.60.

Insider Transactions at Ichor

In other Ichor news, Director Thomas M. Rohrs sold 50,000 shares of Ichor stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $45.37, for a total value of $2,268,500.00. Following the completion of the sale, the director now owns 43,764 shares in the company, valued at approximately $1,985,572.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ichor news, insider Christopher Smith sold 23,433 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $45.08, for a total value of $1,056,359.64. Following the transaction, the insider now directly owns 70,329 shares of the company’s stock, valued at approximately $3,170,431.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas M. Rohrs sold 50,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $45.37, for a total value of $2,268,500.00. Following the sale, the director now owns 43,764 shares of the company’s stock, valued at $1,985,572.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,659 shares of company stock valued at $3,652,848. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in shares of Ichor by 207.2% in the 3rd quarter. Signaturefd LLC now owns 1,109 shares of the technology company’s stock valued at $34,000 after purchasing an additional 748 shares in the last quarter. CWM LLC boosted its holdings in shares of Ichor by 87.1% during the 4th quarter. CWM LLC now owns 1,100 shares of the technology company’s stock valued at $37,000 after acquiring an additional 512 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Ichor during the 4th quarter worth $41,000. PNC Financial Services Group Inc. boosted its stake in shares of Ichor by 39.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the technology company’s stock valued at $102,000 after purchasing an additional 854 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Ichor during the third quarter worth about $143,000. Institutional investors own 94.81% of the company’s stock.

Ichor Price Performance

The company has a 50 day moving average price of $39.10 and a 200-day moving average price of $34.60. The company has a quick ratio of 1.57, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -24.48 and a beta of 1.98.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13). Ichor had a negative return on equity of 0.88% and a negative net margin of 5.30%. The business had revenue of $203.48 million for the quarter, compared to analyst estimates of $197.50 million. As a group, equities research analysts predict that Ichor Holdings, Ltd. will post 0.23 EPS for the current fiscal year.

About Ichor

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.