Ichor (NASDAQ:ICHR) Shares Down 5.6% – Here’s Why

Ichor Holdings, Ltd. (NASDAQ:ICHR)’s share price was down 5.6% during mid-day trading on Thursday . The company traded as low as $47.16 and last traded at $48.29. Approximately 100,444 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,019,359 shares. The stock had previously closed at $51.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Ichor from a “strong sell” rating to a “hold” rating in a research report on Sunday, February 15th. Craig Hallum restated a “buy” rating and issued a $36.00 target price on shares of Ichor in a research note on Wednesday, January 14th. DA Davidson upped 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 upgraded Ichor from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 10th. Finally, Oppenheimer raised 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. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ichor has an average rating of “Moderate Buy” and a consensus target price of $43.14.

Ichor Price Performance

The business has a 50-day simple moving average of $41.13 and a two-hundred day simple moving average of $26.60. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -29.68 and a beta of 1.76. The company has a quick ratio of 1.38, a current ratio of 3.16 and a debt-to-equity ratio of 0.18.

Insider Activity at Ichor

In related news, Director Thomas M. Rohrs sold 53,908 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $45.48, for a total transaction of $2,451,735.84. Following the completion of the sale, the director directly owned 53,024 shares of the company’s stock, valued at $2,411,531.52. This represents a 50.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc Haugen sold 19,875 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $49.71, for a total transaction of $987,986.25. Following the sale, the director owned 26,085 shares of the company’s stock, valued at $1,296,685.35. The trade was a 43.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 120,259 shares of company stock worth $5,689,250. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Ichor

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Linden Thomas Advisory Services LLC lifted its holdings in Ichor by 0.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 50,702 shares of the technology company’s stock worth $934,000 after purchasing an additional 398 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Ichor by 64.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,500 shares of the technology company’s stock valued at $28,000 after purchasing an additional 590 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ichor by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 12,447 shares of the technology company’s stock valued at $244,000 after purchasing an additional 666 shares during the period. AQR Capital Management LLC lifted its stake in shares of Ichor by 0.6% in the fourth quarter. AQR Capital Management LLC now owns 134,194 shares of the technology company’s stock worth $2,473,000 after buying an additional 817 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ichor by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,645 shares of the technology company’s stock worth $444,000 after buying an additional 865 shares during the last quarter. Institutional investors and hedge funds 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.