Ichor (NASDAQ:ICHR) Shares Gap Down Following Analyst Downgrade

Ichor Holdings, Ltd. (NASDAQ:ICHR) gapped down before the market opened on Wednesday after Craig Hallum lowered their price target on the stock from $55.00 to $50.00. The stock had previously closed at $38.96, but opened at $36.34. Craig Hallum currently has a buy rating on the stock. Ichor shares last traded at $35.33, with a volume of 88,787 shares.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus lifted their price objective on Ichor from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. B. Riley raised Ichor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $48.00 in a research note on Friday, April 19th. Needham & Company LLC reissued a “hold” rating and issued a $42.00 price objective on shares of Ichor in a research note on Wednesday. Finally, TD Cowen upped their price target on shares of Ichor from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

Insider Buying and Selling

In other Ichor news, Director Thomas M. Rohrs sold 50,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $45.37, for a total value of $2,268,500.00. Following the transaction, the director now directly owns 43,764 shares in the company, valued at approximately $1,985,572.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CTO Philip Ryan Sr. Barros sold 7,226 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $45.39, for a total transaction of $327,988.14. Following the sale, the chief technology officer now owns 50,490 shares in the company, valued at $2,291,741.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas M. Rohrs sold 50,000 shares of Ichor stock in a transaction on Friday, February 16th. The shares were sold at an average price of $45.37, for a total value of $2,268,500.00. Following the completion of the sale, the director now directly owns 43,764 shares of the company’s stock, valued at approximately $1,985,572.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,659 shares of company stock worth $3,652,848. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Ichor

Hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp increased its stake in shares of Ichor by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 25,761 shares of the technology company’s stock valued at $995,000 after acquiring an additional 381 shares during the last quarter. CWM LLC increased its position in Ichor by 87.1% during the fourth quarter. CWM LLC now owns 1,100 shares of the technology company’s stock worth $37,000 after purchasing an additional 512 shares during the last quarter. Swiss National Bank increased its position in Ichor by 1.1% during the third quarter. Swiss National Bank now owns 63,900 shares of the technology company’s stock worth $1,978,000 after purchasing an additional 700 shares during the last quarter. Signaturefd LLC raised its stake in Ichor by 207.2% during the third quarter. Signaturefd LLC now owns 1,109 shares of the technology company’s stock worth $34,000 after purchasing an additional 748 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Ichor by 39.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the technology company’s stock valued at $102,000 after purchasing an additional 854 shares during the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

Ichor Price Performance

The company has a market capitalization of $1.26 billion, a PE ratio of -24.48 and a beta of 1.98. The company has a current ratio of 4.06, a quick ratio of 1.57 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average price is $39.10 and its 200-day moving average price is $34.60.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13). The firm had revenue of $203.48 million for the quarter, compared to analysts’ expectations of $197.50 million. Ichor had a negative net margin of 5.30% and a negative return on equity of 0.88%. On average, sell-side analysts forecast that Ichor Holdings, Ltd. will post 0.23 earnings per share for the current fiscal year.

Ichor Company Profile

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