Ichor Holdings, Ltd. (NASDAQ:ICHR) Sees Significant Decline in Short Interest

Ichor Holdings, Ltd. (NASDAQ:ICHR) saw a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 2,261,421 shares, a drop of 18.5% from the January 29th total of 2,775,915 shares. Based on an average daily trading volume, of 1,636,265 shares, the short-interest ratio is currently 1.4 days. Currently, 6.7% of the shares of the company are short sold. Currently, 6.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,636,265 shares, the short-interest ratio is currently 1.4 days.

Ichor Stock Down 2.4%

Shares of ICHR stock traded down $1.12 during trading hours on Thursday, hitting $45.54. 114,902 shares of the company’s stock traded hands, compared to its average volume of 1,127,133. The company has a quick ratio of 1.38, a current ratio of 3.16 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $33.97 and its two-hundred day simple moving average is $23.63. Ichor has a 12-month low of $13.12 and a 12-month high of $55.33. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -29.56 and a beta of 1.76.

Analyst Upgrades and Downgrades

ICHR has been the topic of a number of analyst reports. DA Davidson increased their price target on Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Stifel Nicolaus set a $30.00 target price on Ichor in a report on Tuesday, February 10th. Oppenheimer boosted their price target on Ichor from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ichor in a research note on Monday, December 29th. Finally, Zacks Research upgraded Ichor from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $39.57.

Insider Activity at Ichor

In other Ichor news, COO Bruce Ragsdale sold 21,276 shares of Ichor stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $49.66, for a total transaction of $1,056,566.16. Following the completion of the transaction, the chief operating officer directly owned 97,661 shares of the company’s stock, valued at $4,849,845.26. The trade was a 17.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Greg Swyt sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $51.20, for a total transaction of $153,600.00. Following the sale, the chief financial officer owned 78,679 shares of the company’s stock, valued at approximately $4,028,364.80. This represents a 3.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 120,259 shares of company stock worth $5,689,250 in the last three months. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ichor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its position in Ichor by 141.2% in the fourth quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company’s stock worth $55,730,000 after buying an additional 1,770,425 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Ichor by 497.2% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,698,239 shares of the technology company’s stock valued at $29,753,000 after acquiring an additional 1,413,870 shares during the period. Millennium Management LLC increased its holdings in Ichor by 1,710.7% in the 3rd quarter. Millennium Management LLC now owns 855,011 shares of the technology company’s stock worth $14,980,000 after acquiring an additional 807,792 shares in the last quarter. Royce & Associates LP increased its holdings in Ichor by 48.5% in the 4th quarter. Royce & Associates LP now owns 1,449,082 shares of the technology company’s stock worth $26,707,000 after acquiring an additional 473,440 shares in the last quarter. Finally, J. Goldman & Co LP bought a new stake in Ichor during the 4th quarter worth approximately $6,663,000. Hedge funds and other institutional investors own 94.81% of the company’s stock.

About Ichor

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.