Ichor (NASDAQ:ICHR) Shares Down 3.1% – What’s Next?

Ichor Holdings, Ltd. (NASDAQ:ICHR) fell 3.1% during mid-day trading on Thursday . The stock traded as low as $30.01 and last traded at $30.25. 25,202 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 298,706 shares. The stock had previously closed at $31.23.

Analysts Set New Price Targets

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

Ichor Price Performance

The business has a 50 day simple moving average of $31.01 and a two-hundred day simple moving average of $32.49. The firm has a market capitalization of $1.01 billion, a P/E ratio of -32.04 and a beta of 1.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 3.64.

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 the consensus estimate 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 analysts’ expectations of $203.24 million. During the same period in the prior year, the business earned ($0.09) earnings per share. Ichor’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts expect that Ichor Holdings, Ltd. will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Ichor by 1.8% during the third 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 last quarter. Hood River Capital Management LLC lifted its position in 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 worth $42,722,000 after buying an additional 150,933 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ichor by 3.6% in the third quarter. Geode Capital Management LLC now owns 795,794 shares of the technology company’s stock worth $25,319,000 after buying an additional 27,540 shares in the last quarter. Royce & Associates LP grew its position in Ichor by 20.8% during 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 during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Ichor by 4.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 580,818 shares of the technology company’s stock worth $18,476,000 after acquiring an additional 24,889 shares during the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

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.