Ichor (NASDAQ:ICHR) Trading Up 5.3% – Here’s Why

Ichor Holdings, Ltd. (NASDAQ:ICHR) rose 5.3% on Wednesday . The stock traded as high as $33.43 and last traded at $33.42. Approximately 70,077 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 297,619 shares. The stock had previously closed at $31.73.

Analyst Upgrades and Downgrades

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

Ichor Stock Up 1.2 %

The business has a 50 day moving average price of $30.95 and a 200 day moving average price of $32.57. The company has a quick ratio of 1.69, a current ratio of 3.64 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.08 billion, a PE ratio of -34.52 and a beta of 1.93.

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

Hedge Funds Weigh In On Ichor

Several institutional investors and hedge funds have recently modified their holdings of ICHR. Quarry LP grew its holdings in Ichor by 99.5% in the second quarter. Quarry LP now owns 868 shares of the technology company’s stock valued at $33,000 after purchasing an additional 433 shares during the period. GAMMA Investing LLC grew its stake in Ichor by 136.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock valued at $34,000 after acquiring an additional 625 shares during the period. Signaturefd LLC increased its holdings in Ichor by 214.6% in the 3rd quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock worth $40,000 after acquiring an additional 854 shares in the last quarter. CWM LLC grew its position in shares of Ichor by 50.5% in the second quarter. CWM LLC now owns 1,540 shares of the technology company’s stock valued at $59,000 after purchasing an additional 517 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ichor by 28.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,068 shares in the last quarter. Hedge funds and other 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.