Ichor (ICHR) Releases Q4 Earnings Guidance

Ichor (NASDAQ:ICHR) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.32-0.40 for the period, compared to the Thomson Reuters consensus estimate of $0.68. The company issued revenue guidance of $140-150 million, compared to the consensus revenue estimate of $198.30 million.Ichor also updated its FY 2018 guidance to $0.32-0.40 EPS.

Several research firms recently commented on ICHR. ValuEngine lowered shares of Ichor from a hold rating to a sell rating in a research note on Wednesday, September 12th. BidaskClub lowered shares of Ichor from a sell rating to a strong sell rating in a research note on Wednesday, September 26th. Cowen reduced their price objective on shares of Ichor from $32.00 to $28.00 and set an outperform rating for the company in a research note on Wednesday. Stifel Nicolaus set a $41.00 price objective on shares of Ichor and gave the stock a buy rating in a research note on Tuesday, October 23rd. Finally, Royal Bank of Canada lowered shares of Ichor from an outperform rating to a sector perform rating and reduced their price objective for the stock from $28.00 to $20.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $32.00.

Ichor stock traded up $0.66 during mid-day trading on Thursday, reaching $16.69. 49,010 shares of the company traded hands, compared to its average volume of 635,536. The company has a current ratio of 2.10, a quick ratio of 1.00 and a debt-to-equity ratio of 0.73. Ichor has a fifty-two week low of $15.21 and a fifty-two week high of $34.78. The firm has a market capitalization of $469.64 million, a price-to-earnings ratio of 6.91 and a beta of 3.82.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Ichor had a net margin of 7.95% and a return on equity of 35.06%. The business had revenue of $175.20 million for the quarter, compared to analyst estimates of $179.84 million. During the same quarter in the prior year, the business posted $0.62 EPS. Ichor’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Ichor will post 2.99 EPS for the current fiscal year.

In related news, CFO Jeff Andreson purchased 5,200 shares of the business’s stock in a transaction on Monday, August 27th. The shares were acquired at an average price of $24.22 per share, for a total transaction of $125,944.00. Following the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $242,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

A hedge fund recently raised its stake in Ichor stock. Bank of New York Mellon Corp grew its holdings in Ichor Holdings Ltd (NASDAQ:ICHR) by 15.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,388 shares of the technology company’s stock after acquiring an additional 12,175 shares during the period. Bank of New York Mellon Corp owned about 0.37% of Ichor worth $1,918,000 at the end of the most recent quarter. 84.96% of the stock is currently owned by hedge funds and other institutional investors.

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About Ichor

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in the United States, the United Kingdom, Singapore, Malaysia, and South Korea. It primarily offers gas and chemical delivery subsystems that are used in the manufacturing of semiconductor devices.

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