Ichor (NASDAQ:ICHR) Shares Gap Up on Strong Earnings

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $27.14, but opened at $31.50. Ichor shares last traded at $30.86, with a volume of 106,046 shares trading hands.

The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Ichor had a negative return on equity of 2.56% and a negative net margin of 4.53%. The firm had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year.

Analysts Set New Price Targets

Several research firms have weighed in on ICHR. DA Davidson began coverage on shares of Ichor in a report on Thursday, September 26th. They issued a “buy” rating and a $50.00 price target on the stock. TD Cowen lifted their price target on Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com upgraded Ichor from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Oppenheimer started coverage on Ichor in a research report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 price objective on the stock. Finally, B. Riley reissued a “buy” rating and set a $38.00 target price (up previously from $36.00) on shares of Ichor in a report on Tuesday. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.57.

Institutional Trading of Ichor

A number of institutional investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp lifted its position in Ichor by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 25,761 shares of the technology company’s stock worth $995,000 after purchasing an additional 381 shares during the period. Quarry LP raised its position in shares of Ichor by 99.5% in the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock valued at $33,000 after buying an additional 433 shares in the last quarter. CWM LLC lifted its holdings in shares of Ichor by 50.5% during the 2nd quarter. CWM LLC now owns 1,540 shares of the technology company’s stock worth $59,000 after acquiring an additional 517 shares during the period. Amalgamated Bank boosted its position in shares of Ichor by 6.1% during the 2nd quarter. Amalgamated Bank now owns 10,025 shares of the technology company’s stock worth $386,000 after acquiring an additional 577 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Ichor by 136.2% in the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock valued at $34,000 after acquiring an additional 625 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors.

Ichor Trading Up 16.1 %

The firm’s 50-day simple moving average is $28.90 and its 200 day simple moving average is $33.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.27 and a quick ratio of 1.91. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -33.87 and a beta of 1.91.

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.