Ichor Holdings Ltd (ICHR) Expected to Post Quarterly Sales of $144.99 Million

Equities research analysts expect Ichor Holdings Ltd (NASDAQ:ICHR) to report $144.99 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ichor’s earnings, with the highest sales estimate coming in at $145.17 million and the lowest estimate coming in at $144.80 million. Ichor reported sales of $182.94 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 20.7%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 6th.

On average, analysts expect that Ichor will report full year sales of $827.19 million for the current year, with estimates ranging from $827.00 million to $827.38 million. For the next year, analysts forecast that the firm will report sales of $781.68 million, with estimates ranging from $743.00 million to $822.05 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ichor.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Ichor had a return on equity of 35.38% and a net margin of 7.95%. The company had revenue of $175.20 million during the quarter, compared to analysts’ expectations of $179.84 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis.

Several equities research analysts recently commented on the company. Cowen cut their target price on Ichor from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 7th. Royal Bank of Canada lowered Ichor from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $28.00 to $20.00 in a research report on Wednesday, November 7th. BidaskClub upgraded Ichor from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Zacks Investment Research lowered Ichor from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Finally, Stifel Nicolaus set a $41.00 price target on Ichor and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $32.00.

In other Ichor news, CFO Jeff Andreson purchased 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was bought at an average cost of $15.90 per share, with a total value of $103,350.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marc Haugen purchased 5,975 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were acquired at an average cost of $16.68 per share, with a total value of $99,663.00. The disclosure for this purchase can be found here. Corporate insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ICHR. BlackRock Inc. increased its position in shares of Ichor by 121.1% during the third quarter. BlackRock Inc. now owns 3,545,139 shares of the technology company’s stock valued at $72,393,000 after acquiring an additional 1,941,439 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ichor by 103.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,158,654 shares of the technology company’s stock valued at $24,587,000 after acquiring an additional 587,943 shares during the last quarter. FMR LLC purchased a new stake in shares of Ichor during the third quarter valued at approximately $11,580,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Ichor during the third quarter valued at approximately $9,969,000. Finally, Vanguard Group Inc. increased its position in shares of Ichor by 33.5% during the third quarter. Vanguard Group Inc. now owns 1,552,282 shares of the technology company’s stock valued at $31,698,000 after acquiring an additional 389,343 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Shares of Ichor stock opened at $18.20 on Monday. Ichor has a one year low of $15.10 and a one year high of $34.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 2.36. The stock has a market cap of $415.92 million, a P/E ratio of 7.55 and a beta of 3.80.

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, the United Kingdom, Singapore, Malaysia, and South Korea. It primarily offers gas and chemical delivery subsystems that are used in the manufacturing of semiconductor devices.

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