Ichor (NASDAQ:ICHR) Trading Down 8.2% – Should You Sell?

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) were down 8.2% during mid-day trading on Thursday . The stock traded as low as $42.04 and last traded at $41.1680. Approximately 103,119 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,084,120 shares. The stock had previously closed at $44.83.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ICHR. DA Davidson increased their target price on Ichor from $30.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. B. Riley Financial raised Ichor from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 10th. Craig Hallum reiterated a “buy” rating and set a $36.00 price target on shares of Ichor in a research report on Wednesday, January 14th. Stifel Nicolaus set a $30.00 price objective on Ichor in a research note on Tuesday, February 10th. Finally, TD Cowen restated a “buy” rating on shares of Ichor in a report on Tuesday, February 10th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.57.

Ichor Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 3.16 and a quick ratio of 1.38. The stock has a 50 day simple moving average of $36.37 and a two-hundred day simple moving average of $24.51. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -27.77 and a beta of 1.76.

Insiders Place Their Bets

In other news, Director Marc Haugen sold 19,875 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $49.71, for a total transaction of $987,986.25. Following the completion of the sale, the director owned 26,085 shares in the company, valued at $1,296,685.35. This trade represents a 43.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorge Titinger sold 1,200 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $50.11, for a total value of $60,132.00. Following the sale, the director directly owned 13,969 shares of the company’s stock, valued at approximately $699,986.59. This trade represents a 7.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 120,259 shares of company stock worth $5,689,250. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Ichor by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 3,333,902 shares of the technology company’s stock valued at $61,444,000 after buying an additional 148,993 shares in the last quarter. Invesco Ltd. boosted its holdings in Ichor by 141.2% during the 4th quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company’s stock valued at $55,730,000 after acquiring an additional 1,770,425 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Ichor by 15.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,957,656 shares of the technology company’s stock valued at $36,080,000 after acquiring an additional 259,417 shares in the last quarter. Royce & Associates LP grew its position in Ichor by 48.5% in the 4th quarter. Royce & Associates LP now owns 1,449,082 shares of the technology company’s stock valued at $26,707,000 after acquiring an additional 473,440 shares in the last quarter. Finally, State Street Corp increased its stake in Ichor by 0.9% during the fourth quarter. State Street Corp now owns 1,285,419 shares of the technology company’s stock worth $23,690,000 after purchasing an additional 11,645 shares during the period. 94.81% of the stock is currently owned by institutional investors and hedge funds.

Ichor Company Profile

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.