Ichor (NASDAQ:ICHR) Issues Q2 Earnings Guidance

Ichor (NASDAQ:ICHRGet Rating) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.68-$0.94 for the period, compared to the consensus EPS estimate of $1.03. The company issued revenue guidance of $290-$330 million, compared to the consensus revenue estimate of $324.64 million.Ichor also updated its Q2 2022 guidance to $0.68-$0.94 EPS.

ICHR opened at $29.16 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $834.68 million, a P/E ratio of 11.90 and a beta of 2.10. Ichor has a 52 week low of $27.75 and a 52 week high of $58.75. The business’s fifty day simple moving average is $32.40 and its 200 day simple moving average is $39.70.

Ichor (NASDAQ:ICHRGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The technology company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.20). The company had revenue of $293.15 million for the quarter, compared to analyst estimates of $300.08 million. Ichor had a net margin of 6.46% and a return on equity of 19.12%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. As a group, equities analysts expect that Ichor will post 3.87 EPS for the current fiscal year.

A number of analysts recently commented on ICHR shares. B. Riley decreased their price objective on Ichor from $56.00 to $42.00 and set a buy rating on the stock in a research note on Monday, April 18th. Zacks Investment Research raised Ichor from a hold rating to a buy rating and set a $33.00 price target on the stock in a research note on Tuesday, April 12th. Finally, StockNews.com began coverage on Ichor in a research note on Thursday, March 31st. They issued a hold rating on the stock.

In other news, Director Iain Mackenzie sold 2,500 shares of Ichor stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new position in shares of Ichor in the 2nd quarter valued at about $313,000. LPL Financial LLC purchased a new stake in shares of Ichor during the 4th quarter valued at about $325,000. Stifel Financial Corp raised its holdings in shares of Ichor by 90.6% during the 4th quarter. Stifel Financial Corp now owns 16,419 shares of the technology company’s stock valued at $756,000 after buying an additional 7,803 shares during the period. Royal Bank of Canada raised its holdings in shares of Ichor by 86.0% during the 3rd quarter. Royal Bank of Canada now owns 21,616 shares of the technology company’s stock valued at $888,000 after buying an additional 9,997 shares during the period. Finally, Credit Suisse AG raised its holdings in shares of Ichor by 61.9% during the 4th quarter. Credit Suisse AG now owns 36,428 shares of the technology company’s stock valued at $1,676,000 after buying an additional 13,929 shares during the period. 86.95% of the stock is currently owned by institutional investors and hedge funds.

About Ichor (Get Rating)

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices. The company's gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes comprising chemical-mechanical planarization, electroplating, and cleaning.

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