Ichor Holdings, Ltd. (ICHR) Earns Positive Rating from Needham & Company LLC

Ichor Holdings, Ltd. (NASDAQ:ICHR)‘s stock had its “positive” rating reissued by equities researchers at Needham & Company LLC in a report issued on Monday, July 31st, The Fly reports. They presently have a $30.00 price target on the technology company’s stock, up from their prior price target of $25.00. Needham & Company LLC’s price objective suggests a potential upside of 47.35% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Cowen and Company set a $25.00 price objective on shares of Ichor Holdings and gave the stock a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Ichor Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $22.00 price objective (up from $19.00) on shares of Ichor Holdings in a research report on Sunday, April 2nd. Stifel Nicolaus raised their target price on shares of Ichor Holdings from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $24.00 price target (up from $20.00) on shares of Ichor Holdings in a research note on Saturday, April 29th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $27.17.

Shares of Ichor Holdings (ICHR) opened at 20.36 on Monday. The firm has a market capitalization of $505.05 million and a price-to-earnings ratio of 10.96. Ichor Holdings has a 12-month low of $9.76 and a 12-month high of $29.73. The firm has a 50-day moving average of $20.87 and a 200 day moving average of $20.09.

Ichor Holdings (NASDAQ:ICHR) last posted its earnings results on Thursday, August 10th. The technology company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $159.70 million for the quarter, compared to analysts’ expectations of $159.36 million. The business’s revenue for the quarter was up 67.4% compared to the same quarter last year. On average, equities research analysts expect that Ichor Holdings will post $2.41 earnings per share for the current year.

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In other Ichor Holdings news, insider Philip Ryan Sr. Barros sold 35,650 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $25.84, for a total value of $921,196.00. Following the completion of the transaction, the insider now owns 32,090 shares of the company’s stock, valued at approximately $829,205.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dipanjan Deb sold 5,423,692 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $18.50, for a total value of $100,338,302.00. The disclosure for this sale can be found here. In the last three months, insiders sold 5,693,447 shares of company stock valued at $105,936,058. 5.80% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of ICHR. C M Bidwell & Associates Ltd. acquired a new position in shares of Ichor Holdings during the second quarter worth $162,000. The Manufacturers Life Insurance Company acquired a new stake in Ichor Holdings during the second quarter valued at approximately $180,000. Royal Bank of Canada raised its stake in Ichor Holdings by 38.2% in the second quarter. Royal Bank of Canada now owns 9,400 shares of the technology company’s stock valued at $189,000 after buying an additional 2,600 shares during the last quarter. Hancock Holding Co. acquired a new stake in Ichor Holdings during the first quarter valued at approximately $202,000. Finally, BT Investment Management Ltd acquired a new stake in Ichor Holdings during the second quarter valued at approximately $223,000. 68.53% of the stock is owned by institutional investors and hedge funds.

About Ichor Holdings

Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices.

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