Ichor (ICHR) Downgraded by Zacks Investment Research

Ichor (NASDAQ:ICHR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. Ichor Holdings, Ltd. is based in Fremont, United States. “

A number of other equities research analysts have also weighed in on the stock. BidaskClub upgraded shares of Ichor from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. ValuEngine lowered shares of Ichor from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Needham & Company LLC boosted their target price on shares of Ichor to $27.00 and gave the company a “buy” rating in a research note on Thursday, February 7th. DA Davidson started coverage on shares of Ichor in a research note on Thursday, March 7th. They set a “buy” rating and a $30.00 target price for the company. Finally, Northland Securities lowered shares of Ichor from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $22.00 to $25.00 in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $28.00.

ICHR stock opened at $22.56 on Tuesday. The company has a market capitalization of $504.89 million, a P/E ratio of 8.09 and a beta of 2.84. The company has a current ratio of 2.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.98. Ichor has a 12-month low of $14.23 and a 12-month high of $27.32.

Ichor (NASDAQ:ICHR) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.06). The company had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $135.39 million. Ichor had a net margin of 6.07% and a return on equity of 22.62%. Ichor’s quarterly revenue was down 46.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, analysts forecast that Ichor will post 1.11 EPS for the current year.

In other news, COO Kevin M. Canty sold 1,750 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $21.89, for a total value of $38,307.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. New York State Teachers Retirement System increased its stake in shares of Ichor by 4.6% in the 1st quarter. New York State Teachers Retirement System now owns 12,424 shares of the technology company’s stock worth $281,000 after purchasing an additional 541 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ichor by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 127,714 shares of the technology company’s stock worth $2,884,000 after purchasing an additional 690 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Ichor by 7.8% in the 1st quarter. Victory Capital Management Inc. now owns 9,629 shares of the technology company’s stock worth $217,000 after purchasing an additional 695 shares in the last quarter. Sapphire Star Partners LP increased its stake in shares of Ichor by 2.8% in the 4th quarter. Sapphire Star Partners LP now owns 25,916 shares of the technology company’s stock worth $422,000 after purchasing an additional 718 shares in the last quarter. Finally, Globeflex Capital L P increased its stake in shares of Ichor by 2.3% in the 1st quarter. Globeflex Capital L P now owns 57,863 shares of the technology company’s stock worth $1,307,000 after purchasing an additional 1,307 shares in the last quarter. Hedge funds and other institutional investors own 97.87% of the company’s stock.

About Ichor

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment. It primarily offers gas and chemical delivery subsystems that are used in the manufacturing of semiconductor devices. The company's gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes comprising electroplating and cleaning.

Featured Article: Trading Options- What is a Strangle?

Get a free copy of the Zacks research report on Ichor (ICHR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ichor (NASDAQ:ICHR)

Receive News & Ratings for Ichor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ichor and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit