Ichor (NASDAQ:ICHR) Shares Gap Down Following Analyst Downgrade

Ichor Holdings, Ltd. (NASDAQ:ICHR)’s share price gapped down prior to trading on Wednesday after Craig Hallum lowered their price target on the stock from $55.00 to $50.00. The stock had previously closed at $38.96, but opened at $36.34. Craig Hallum currently has a buy rating on the stock. Ichor shares last traded at $35.33, with a volume of 88,787 shares.

Several other analysts have also recently issued reports on the company. TD Cowen increased their target price on Ichor from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. B. Riley upgraded shares of Ichor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $48.00 in a research report on Friday, April 19th. Needham & Company LLC reissued a “hold” rating and issued a $42.00 target price on shares of Ichor in a report on Wednesday. Finally, Stifel Nicolaus raised their target price on shares of Ichor from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.60.

Insider Buying and Selling

In other Ichor news, insider Christopher Smith sold 23,433 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $45.08, for a total transaction of $1,056,359.64. Following the completion of the transaction, the insider now owns 70,329 shares in the company, valued at $3,170,431.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Philip Ryan Sr. Barros sold 7,226 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $45.39, for a total transaction of $327,988.14. Following the transaction, the chief technology officer now owns 50,490 shares of the company’s stock, valued at approximately $2,291,741.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Smith sold 23,433 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $45.08, for a total value of $1,056,359.64. Following the completion of the sale, the insider now owns 70,329 shares of the company’s stock, valued at $3,170,431.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,659 shares of company stock worth $3,652,848. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brandywine Global Investment Management LLC boosted its stake in shares of Ichor by 24.4% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 319,662 shares of the technology company’s stock worth $9,897,000 after purchasing an additional 62,609 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Ichor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 361,530 shares of the technology company’s stock worth $11,193,000 after buying an additional 16,426 shares during the period. Vanguard Group Inc. lifted its stake in shares of Ichor by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,623,548 shares of the technology company’s stock worth $81,225,000 after acquiring an additional 22,880 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in Ichor by 4.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 465,829 shares of the technology company’s stock valued at $14,422,000 after acquiring an additional 19,354 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in Ichor by 27.0% in the 4th quarter. Pinnacle Associates Ltd. now owns 498,955 shares of the technology company’s stock valued at $16,780,000 after acquiring an additional 105,934 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.

Ichor Stock Performance

The firm has a market cap of $1.25 billion, a PE ratio of -25.84 and a beta of 1.98. The business has a 50 day simple moving average of $38.91 and a two-hundred day simple moving average of $34.64. The company has a quick ratio of 1.57, a current ratio of 4.06 and a debt-to-equity ratio of 0.43.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13). Ichor had a negative return on equity of 0.88% and a negative net margin of 5.30%. The company had revenue of $203.48 million during the quarter, compared to the consensus estimate of $197.50 million. As a group, equities research analysts forecast that Ichor Holdings, Ltd. will post 0.23 earnings per share for the current fiscal year.

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.