Ichor (ICHR) Shares Down 12.7%

Ichor Holdings Ltd (NASDAQ:ICHR) shares dropped 12.7% on Thursday . The company traded as low as $26.03 and last traded at $23.02. Approximately 2,189,812 shares traded hands during trading, an increase of 51% from the average daily volume of 1,450,851 shares. The stock had previously closed at $26.37.

ICHR has been the subject of a number of research analyst reports. Zacks Investment Research lowered Ichor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Needham & Company LLC raised their price objective on Ichor from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Cowen raised their price objective on Ichor from $27.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Royal Bank of Canada restated a “buy” rating and set a $37.00 price objective on shares of Ichor in a research report on Friday, October 20th. Finally, Deutsche Bank raised their price objective on Ichor to $38.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.33.

The stock has a market cap of $583.43 and a PE ratio of 5.27. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.34.

Ichor (NASDAQ:ICHR) last released its quarterly earnings results on Thursday, November 9th. The technology company reported $0.62 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. The company had revenue of $164.50 million during the quarter, compared to analyst estimates of $165.16 million. Ichor had a return on equity of 32.99% and a net margin of 7.43%. The company’s quarterly revenue was up 55.6% on a year-over-year basis. equities analysts predict that Ichor Holdings Ltd will post 2.44 earnings per share for the current year.

In related news, Director Iain Mackenzie sold 4,690 shares of Ichor stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $26.10, for a total value of $122,409.00. Following the completion of the transaction, the director now owns 4,690 shares in the company, valued at $122,409. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Philip Ryan Sr. Barros sold 35,650 shares of Ichor stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $26.37, for a total value of $940,090.50. Following the completion of the transaction, the insider now owns 32,090 shares of the company’s stock, valued at approximately $846,213.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,694 shares of company stock valued at $5,350,099. 5.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC lifted its stake in Ichor by 8.7% in the second quarter. Cubist Systematic Strategies LLC now owns 15,350 shares of the technology company’s stock worth $309,000 after purchasing an additional 1,231 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Ichor by 3.4% in the fourth quarter. Victory Capital Management Inc. now owns 59,938 shares of the technology company’s stock worth $1,475,000 after purchasing an additional 1,983 shares during the last quarter. Cadence Capital Management LLC lifted its stake in Ichor by 5.1% in the third quarter. Cadence Capital Management LLC now owns 52,489 shares of the technology company’s stock worth $1,407,000 after purchasing an additional 2,539 shares during the last quarter. Royal Bank of Canada lifted its stake in Ichor by 38.2% in the second quarter. Royal Bank of Canada now owns 9,400 shares of the technology company’s stock worth $189,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Ichor by 22.6% in the third quarter. Rhumbline Advisers now owns 14,502 shares of the technology company’s stock worth $389,000 after purchasing an additional 2,675 shares during the last quarter. 76.28% of the stock is owned by institutional investors and hedge funds.

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Ichor Company Profile

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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