Ichor (NASDAQ:ICHR) Sees Strong Trading Volume – Here’s What Happened

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) saw strong trading volume on Friday . 104,082 shares were traded during mid-day trading, a decline of 4% from the previous session’s volume of 108,345 shares.The stock last traded at $32.20 and had previously closed at $32.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of Ichor in a research report on Thursday, September 26th. They set a “buy” rating and a $50.00 price objective on the stock. B. Riley reiterated a “buy” rating and issued a $38.00 price target (up previously from $36.00) on shares of Ichor in a research note on Tuesday, November 5th. Oppenheimer initiated coverage on Ichor in a research report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 price objective for the company. Finally, TD Cowen boosted their target price on Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.57.

Ichor Price Performance

The stock’s 50-day simple moving average is $31.65 and its two-hundred day simple moving average is $32.10. The firm has a market cap of $1.10 billion, a P/E ratio of -34.99 and a beta of 1.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.64 and a quick ratio of 1.69.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. The company had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. During the same period in the prior year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts forecast that Ichor Holdings, Ltd. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ichor

Several hedge funds have recently bought and sold shares of the business. State Street Corp increased its holdings in Ichor by 1.8% during the 3rd quarter. State Street Corp now owns 1,232,532 shares of the technology company’s stock worth $39,207,000 after purchasing an additional 21,804 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of Ichor by 15.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company’s stock valued at $42,722,000 after buying an additional 150,933 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ichor by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 795,794 shares of the technology company’s stock worth $25,319,000 after acquiring an additional 27,540 shares in the last quarter. Royce & Associates LP boosted its stake in Ichor by 20.8% in the third quarter. Royce & Associates LP now owns 718,967 shares of the technology company’s stock valued at $22,870,000 after acquiring an additional 123,585 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in Ichor by 4.5% in the third quarter. Westfield Capital Management Co. LP now owns 580,818 shares of the technology company’s stock worth $18,476,000 after purchasing an additional 24,889 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.

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.