Needham & Company LLC Cuts Ichor (NASDAQ:ICHR) Price Target to $40.00

Ichor (NASDAQ:ICHR) had its price objective cut by Needham & Company LLC from $44.00 to $40.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research firms also recently issued reports on ICHR. TD Cowen cut their price objective on shares of Ichor from $48.00 to $35.00 and set a buy rating on the stock in a report on Wednesday. StockNews.com lowered shares of Ichor from a hold rating to a sell rating in a research note on Tuesday. B. Riley upgraded shares of Ichor from a neutral rating to a buy rating and lifted their price objective for the stock from $40.00 to $48.00 in a research note on Friday, April 19th. Stifel Nicolaus upped their target price on Ichor from $40.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Finally, Craig Hallum dropped their price target on Ichor from $55.00 to $50.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ichor has an average rating of Moderate Buy and a consensus price target of $43.60.

Ichor Trading Down 1.2 %

ICHR traded down $0.36 during trading hours on Wednesday, reaching $28.90. 388,644 shares of the company’s stock traded hands, compared to its average volume of 321,290. The company has a quick ratio of 1.78, a current ratio of 4.16 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $36.56 and a 200 day moving average price of $38.42. Ichor has a 52-week low of $22.26 and a 52-week high of $46.43. The firm has a market capitalization of $967.43 million, a PE ratio of -16.33 and a beta of 1.94.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). The business had revenue of $201.38 million during the quarter, compared to the consensus estimate of $200.00 million. Ichor had a negative return on equity of 2.93% and a negative net margin of 6.61%. As a group, sell-side analysts predict that Ichor will post -0.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jeff Andreson sold 21,400 shares of Ichor stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $38.74, for a total transaction of $829,036.00. Following the completion of the transaction, the chief executive officer now directly owns 282,141 shares in the company, valued at $10,930,142.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Trading of Ichor

Several institutional investors have recently bought and sold shares of ICHR. Texas Permanent School Fund Corp grew its stake in Ichor by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 25,761 shares of the technology company’s stock valued at $995,000 after acquiring an additional 381 shares during the period. CWM LLC lifted its holdings in Ichor by 87.1% during the fourth quarter. CWM LLC now owns 1,100 shares of the technology company’s stock valued at $37,000 after purchasing an additional 512 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Ichor by 39.0% in 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 during the period. Linden Thomas Advisory Services LLC raised its position in shares of Ichor by 10.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 10,839 shares of the technology company’s stock worth $418,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ichor by 8.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,117 shares of the technology company’s stock valued at $441,000 after acquiring an additional 1,023 shares during the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

Ichor Company Profile

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.