Ichor (NASDAQ:ICHR) Shares Gap Down Following 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 traded.

ICHR has been the topic of a number of other reports. Needham & Company LLC reissued a “hold” rating and set a $42.00 price target on shares of Ichor in a report on Wednesday. B. Riley raised shares of Ichor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $48.00 in a research note on Friday, April 19th. Stifel Nicolaus raised their price objective 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. Finally, TD Cowen upped their target price on Ichor from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ichor currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.60.

Insider Transactions at Ichor

In other news, Director Thomas M. Rohrs sold 50,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $45.37, for a total transaction of $2,268,500.00. Following the transaction, the director now owns 43,764 shares in the company, valued at approximately $1,985,572.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ichor news, Director Thomas M. Rohrs sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $45.37, for a total transaction of $2,268,500.00. Following the completion of the sale, the director now owns 43,764 shares of the company’s stock, valued at $1,985,572.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Smith sold 23,433 shares of the business’s 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 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. Insiders sold 80,659 shares of company stock valued at $3,652,848 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

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

Ichor Stock Performance

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 firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -25.75 and a beta of 1.98. The firm’s 50-day moving average price is $39.00 and its two-hundred day moving average price is $34.62.

Ichor (NASDAQ:ICHR) last issued its earnings results on Tuesday, February 6th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.13). The firm had revenue of $203.48 million during the quarter, compared to analyst estimates of $197.50 million. Ichor had a negative net margin of 5.30% and a negative return on equity of 0.88%. Sell-side analysts predict that Ichor Holdings, Ltd. will post 0.23 earnings per share for the current 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.