$184.50 Million in Sales Expected for Ichor Holdings Ltd (NASDAQ:ICHR) This Quarter

Equities research analysts predict that Ichor Holdings Ltd (NASDAQ:ICHR) will post sales of $184.50 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ichor’s earnings. The lowest sales estimate is $183.50 million and the highest is $185.00 million. Ichor posted sales of $141.40 million during the same quarter last year, which would indicate a positive year over year growth rate of 30.5%. The firm is expected to report its next quarterly earnings report on Wednesday, February 5th.

On average, analysts expect that Ichor will report full year sales of $610.00 million for the current fiscal year, with estimates ranging from $592.09 million to $616.50 million. For the next year, analysts forecast that the business will report sales of $753.35 million, with estimates ranging from $735.00 million to $800.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Ichor.

Ichor (NASDAQ:ICHR) last released its earnings results on Tuesday, November 5th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. The company had revenue of $154.46 million for the quarter, compared to the consensus estimate of $149.96 million. Ichor had a net margin of 1.09% and a return on equity of 9.41%. Ichor’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS.

A number of research firms have weighed in on ICHR. Needham & Company LLC raised their price objective on shares of Ichor to $36.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Cowen raised their price target on shares of Ichor from $26.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. ValuEngine downgraded Ichor from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. DA Davidson raised Ichor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $34.00 in a research note on Thursday, October 24th. Finally, Deutsche Bank set a $32.00 target price on Ichor and gave the company a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $33.13.

Several institutional investors have recently made changes to their positions in the company. Man Group plc purchased a new stake in Ichor in the 3rd quarter worth approximately $202,000. Point72 Asset Management L.P. boosted its holdings in shares of Ichor by 24.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 548,100 shares of the technology company’s stock worth $13,253,000 after purchasing an additional 108,670 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Ichor by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 34,295 shares of the technology company’s stock valued at $829,000 after buying an additional 410 shares in the last quarter. State Street Corp lifted its position in Ichor by 0.6% in the 3rd quarter. State Street Corp now owns 655,066 shares of the technology company’s stock worth $15,839,000 after buying an additional 3,727 shares during the last quarter. Finally, Monarch Partners Asset Management LLC lifted its stake in Ichor by 5.4% in the third quarter. Monarch Partners Asset Management LLC now owns 19,670 shares of the technology company’s stock worth $476,000 after purchasing an additional 1,000 shares during the last quarter. 85.69% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ ICHR traded up $0.50 during mid-day trading on Wednesday, hitting $31.45. The company’s stock had a trading volume of 160,721 shares, compared to its average volume of 304,921. The firm has a market capitalization of $707.47 million, a price-to-earnings ratio of 11.27 and a beta of 2.81. The company’s 50 day simple moving average is $30.11 and its 200 day simple moving average is $24.97. The company has a current ratio of 1.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.87. Ichor has a twelve month low of $14.23 and a twelve month high of $32.80.

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: Penny Stocks, Risk and Reward Factors

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

Earnings History and Estimates 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.