Magnetar Financial LLC Makes New Investment in Ichor Holdings, Ltd. (NASDAQ:ICHR)

Magnetar Financial LLC acquired a new position in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,585 shares of the technology company’s stock, valued at approximately $502,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICHR. Raymond James Financial Inc. acquired a new position in Ichor during the fourth quarter worth $8,489,000. JPMorgan Chase & Co. boosted its stake in Ichor by 157.9% during the third quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock worth $10,823,000 after buying an additional 208,328 shares during the last quarter. Royce & Associates LP boosted its stake in Ichor by 20.2% during the fourth quarter. Royce & Associates LP now owns 864,245 shares of the technology company’s stock worth $27,846,000 after buying an additional 145,278 shares during the last quarter. Meros Investment Management LP raised its position in Ichor by 85.4% in the third quarter. Meros Investment Management LP now owns 197,119 shares of the technology company’s stock valued at $6,270,000 after purchasing an additional 90,791 shares during the period. Finally, Hodges Capital Management Inc. raised its position in Ichor by 52.0% in the fourth quarter. Hodges Capital Management Inc. now owns 217,125 shares of the technology company’s stock valued at $6,996,000 after purchasing an additional 74,255 shares during the period. Institutional investors and hedge funds own 94.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ICHR. TD Cowen reduced their target price on Ichor from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. StockNews.com downgraded Ichor from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Ichor in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.29.

Ichor Price Performance

Shares of NASDAQ ICHR opened at $26.61 on Friday. The stock’s 50-day moving average is $29.67 and its two-hundred day moving average is $30.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 1.49. Ichor Holdings, Ltd. has a 1-year low of $24.61 and a 1-year high of $42.70. The company has a market cap of $904.82 million, a price-to-earnings ratio of -40.94 and a beta of 1.91.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Ichor had a negative return on equity of 1.38% and a negative net margin of 2.45%. Analysts forecast that Ichor Holdings, Ltd. will post 1.01 EPS for the current fiscal year.

Insider Transactions at Ichor

In other news, Director Jorge Titinger sold 3,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.04, for a total transaction of $96,120.00. Following the completion of the transaction, the director now directly owns 9,832 shares of the company’s stock, valued at approximately $315,017.28. This represents a 23.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.20% 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.