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

Ichor Holdings, Ltd. (NASDAQ:ICHR) 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.

A number of other research analysts also recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating and set a $42.00 target price on shares of Ichor in a research report on Wednesday. B. Riley raised Ichor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $40.00 to $48.00 in a research report on Friday, April 19th. Stifel Nicolaus increased their price target on Ichor from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, TD Cowen boosted their price objective on Ichor from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in shares of Ichor by 207.2% in the 3rd quarter. Signaturefd LLC now owns 1,109 shares of the technology company’s stock valued at $34,000 after acquiring an additional 748 shares during the last quarter. CWM LLC lifted its position in Ichor by 87.1% in the fourth quarter. CWM LLC now owns 1,100 shares of the technology company’s stock valued at $37,000 after purchasing an additional 512 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Ichor during the fourth quarter valued at approximately $41,000. PNC Financial Services Group Inc. increased its stake in shares of Ichor by 39.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the technology company’s stock worth $102,000 after buying an additional 854 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Ichor during the 3rd quarter valued at $143,000. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Ichor Stock Down 2.8 %

The firm has a market cap of $1.25 billion, a PE ratio of -25.75 and a beta of 1.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.57 and a current ratio of 4.06. The company’s 50-day simple moving average is $39.00 and its two-hundred day simple moving average is $34.62.

Ichor (NASDAQ:ICHR) last posted its earnings results on Tuesday, February 6th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.13). The business had revenue of $203.48 million during the quarter, compared to the consensus estimate of $197.50 million. Ichor had a negative return on equity of 0.88% and a negative net margin of 5.30%. On average, analysts predict 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.