Ichor (NASDAQ:ICHR) Shares Gap Up After Analyst Upgrade

Ichor Holdings, Ltd. (NASDAQ:ICHR) gapped up before the market opened on Tuesday after Stifel Nicolaus upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $42.59, but opened at $45.15. Stifel Nicolaus now has a $55.00 price target on the stock, up from their previous price target of $30.00. Ichor shares last traded at $48.9850, with a volume of 333,441 shares trading hands.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Ichor from a “strong sell” rating to a “hold” rating in a research report on Sunday, February 15th. Oppenheimer raised their target price on shares of Ichor from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ichor in a report on Monday, December 29th. Needham & Company LLC boosted their price target on Ichor from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, TD Cowen restated a “buy” rating on shares of Ichor in a research note on Tuesday, February 10th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

Insider Activity at Ichor

In other Ichor news, CEO Philip Ryan Sr. Barros sold 21,000 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $46.63, for a total value of $979,230.00. Following the transaction, the chief executive officer owned 153,936 shares of the company’s stock, valued at $7,178,035.68. This represents a 12.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas M. Rohrs sold 53,908 shares of Ichor stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $45.48, for a total value of $2,451,735.84. Following the sale, the director owned 53,024 shares of the company’s stock, valued at approximately $2,411,531.52. This trade represents a 50.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 120,259 shares of company stock worth $5,689,250 over the last quarter. 1.90% of the stock is owned by insiders.

Institutional Trading of Ichor

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Ichor by 27.7% in the first quarter. Royal Bank of Canada now owns 9,891 shares of the technology company’s stock worth $224,000 after purchasing an additional 2,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ichor by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,645 shares of the technology company’s stock valued at $444,000 after purchasing an additional 865 shares in the last quarter. Jane Street Group LLC raised its position in Ichor by 286.0% during the 1st quarter. Jane Street Group LLC now owns 53,277 shares of the technology company’s stock valued at $1,205,000 after purchasing an additional 39,476 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Ichor by 6.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,442 shares of the technology company’s stock worth $401,000 after buying an additional 1,305 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Ichor by 143.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 515,638 shares of the technology company’s stock worth $10,127,000 after buying an additional 304,228 shares in the last quarter. Institutional investors own 94.81% of the company’s stock.

Ichor Stock Performance

The stock has a market cap of $1.65 billion, a PE ratio of -30.92 and a beta of 1.76. The company has a quick ratio of 1.38, a current ratio of 3.16 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $38.18 and a 200 day moving average price of $25.29.

About Ichor

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.