Ichor (NASDAQ:ICHR) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Ichor (NASDAQ:ICHR) from a strong sell rating to a hold rating in a research note released on Wednesday morning, 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. “

Several other equities research analysts have also recently issued reports on the stock. Northland Securities set a $13.00 price objective on shares of Nabriva Therapeutics and gave the company a buy rating in a research report on Wednesday, May 8th. Cowen reiterated a buy rating and set a $149.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. DA Davidson cut shares of Advanced Energy Industries from a buy rating to a neutral rating and reduced their price objective for the company from $60.00 to $55.00 in a research report on Monday. B. Riley set a $7.00 price objective on shares of Unique Fabricating and gave the company a buy rating in a research report on Thursday, May 16th. Finally, ValuEngine cut shares of Zions Bancorporation NA from a hold rating to a sell rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $27.38.

Shares of Ichor stock traded down $0.33 on Wednesday, hitting $23.50. 230,100 shares of the company traded hands, compared to its average volume of 324,445. The firm has a market cap of $522.33 million, a PE ratio of 8.42 and a beta of 2.70. The company has a quick ratio of 1.01, a current ratio of 2.27 and a debt-to-equity ratio of 0.98. Ichor has a 52 week low of $14.23 and a 52 week high of $26.25. The company’s 50-day moving average price is $22.55.

Ichor (NASDAQ:ICHR) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.06). The company had revenue of $137.80 million for the quarter, compared to the consensus estimate of $135.39 million. Ichor had a net margin of 6.07% and a return on equity of 22.62%. The company’s quarterly revenue was down 46.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. As a group, research analysts anticipate that Ichor will post 1.12 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates increased its position in Ichor by 30.8% in the fourth quarter. Raymond James & Associates now owns 14,514 shares of the technology company’s stock worth $237,000 after purchasing an additional 3,416 shares during the last quarter. Whittier Trust Co. increased its position in Ichor by 4.7% in the first quarter. Whittier Trust Co. now owns 29,803 shares of the technology company’s stock worth $673,000 after purchasing an additional 1,343 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Ichor by 75,966.7% in the first quarter. BNP Paribas Arbitrage SA now owns 4,564 shares of the technology company’s stock worth $103,000 after purchasing an additional 4,558 shares during the last quarter. Epoch Investment Partners Inc. increased its position in Ichor by 3.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 281,911 shares of the technology company’s stock worth $4,595,000 after purchasing an additional 10,419 shares during the last quarter. Finally, Premier Asset Management LLC bought a new stake in Ichor in the fourth quarter worth $226,000. Institutional investors own 94.27% 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.

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