Ichor (NASDAQ:ICHR) Shares Gap Down – Here’s Why

Ichor Holdings, Ltd. (NASDAQ:ICHR) gapped down before the market opened on Thursday . The stock had previously closed at $47.81, but opened at $44.46. Ichor shares last traded at $47.1950, with a volume of 33,972 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ICHR. Wall Street Zen upgraded Ichor from a “strong sell” rating to a “hold” rating in a report on Sunday, February 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Ichor in a report on Friday, March 27th. TD Cowen reiterated a “buy” rating on shares of Ichor in a research report on Tuesday, February 10th. Stifel Nicolaus raised shares of Ichor from a “hold” rating to a “buy” rating and increased their target price for the stock from $30.00 to $55.00 in a research note on Tuesday, March 17th. Finally, Zacks Research upgraded shares of Ichor from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.14.

Ichor Stock Performance

The company’s fifty day moving average price is $43.26 and its 200 day moving average price is $27.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.16 and a quick ratio of 1.38. The company has a market cap of $1.67 billion, a PE ratio of -31.25 and a beta of 1.67.

Insider Buying and Selling at Ichor

In other Ichor news, Director Thomas M. Rohrs sold 53,908 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $45.48, for a total transaction of $2,451,735.84. Following the completion of the transaction, the director owned 53,024 shares in the company, valued at $2,411,531.52. The trade was a 50.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Philip Ryan Sr. Barros sold 21,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 153,936 shares in the company, valued at approximately $7,178,035.68. The trade was a 12.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 120,259 shares of company stock valued at $5,689,250. 1.90% of the stock is owned by company insiders.

Institutional Trading of Ichor

Several institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. grew its holdings in shares of Ichor by 141.2% in the fourth quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company’s stock worth $55,730,000 after purchasing an additional 1,770,425 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Ichor by 497.2% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,698,239 shares of the technology company’s stock valued at $29,753,000 after buying an additional 1,413,870 shares in the last quarter. Millennium Management LLC lifted its holdings in Ichor by 1,710.7% during the 3rd quarter. Millennium Management LLC now owns 855,011 shares of the technology company’s stock valued at $14,980,000 after buying an additional 807,792 shares in the last quarter. Royce & Associates LP boosted its position in Ichor by 48.5% in the 4th quarter. Royce & Associates LP now owns 1,449,082 shares of the technology company’s stock valued at $26,707,000 after buying an additional 473,440 shares during the period. Finally, J. Goldman & Co LP purchased a new stake in Ichor in the 4th quarter valued at about $6,663,000. 94.81% of the stock is currently owned by institutional investors.

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.